Sunday 25 September 2016

European shares edge lower

Published 15/04/2016 | 08:37

Traders work at their desks in front of the German share price index, DAX board, at the stock exchange in Frankfurt
Traders work at their desks in front of the German share price index, DAX board, at the stock exchange in Frankfurt

European shares edged lower in early trading on Friday, with automakers leading the market down after French car parts maker Faurecia fell sharply after an update.

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The STOXX Europe 600 Automobiles and Parts index fell 1.1 percent, the top sectoral decliner, as Faurecia shares fell 4.5 percent after the company said that its quarterly sales in China were down 2 percent.

The pan-European FTSEurofirst 300 index fell 0.1 percent, but was still up 3.8 percent so far this week and stayed on track for its best week since mid-February.

However, Carrefour rose 3.8 percent after saying that sales rose in its key European markets of Spain and Italy and in Brazil in the first quarter, offsetting a lacklustre performance in France.

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