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European shares flat as weakness in autos negate mining gains

Published 04/26/2021, 03:20 PM
Updated 04/26/2021, 03:30 PM
© Reuters.
AAPL
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VOWG_p
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STOXX
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AMS
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SXPP
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
April 26 (Reuters) - European stocks were largely flat on
Monday as losses in automakers countered gains in miners, while
investors braced for a busy week of corporate earnings and
economic data.
The pan-European STOXX 600 index .STOXX inched up 0.02% in
early trading after it recorded its first weekly loss in eight
on Friday.
A 10-year high for Shanghai copper prices and a surge in
other metals boosted shares of European miners, with the basic
resources index .SXPP climbing 0.5% to lead sectoral gains.
MET/L
Auto stocks took a hit, with Volkswagen AG VOWG_p.DE
slipping 1.1% after the Financial Times reported the company had
warned managers to prepare for a bigger production hit in the
second quarter due to a global chip shortage. Austrian sensor maker AMS AMS.S fell 4.3% after Credit
Suisse double downgraded its stock to "underperform", citing
concerns around the company potentially losing product supply
deals at Apple AAPL.O .

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