European shares slip, Daimler drags on Germany

  • Reuters
  • Stock Market News
European shares slip, Daimler drags on Germany
Credit: © Reuters.

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

Nov 14 (Reuters) - European shares dipped lower in early trade on Thursday, as a drop in Daimler shares and lackluster economic data from Asia as well as Europe, checked any gains from a handful of positive corporate updates.

By 0819 GMT, the pan-European STOXX 600 index .STOXX fell 0.2%, with German shares .GDAXI dropping 0.4%.

Daimler DAIGn.DE slumped more than 3% after the German carmaker said tougher emissions rules will hit earnings in 2020 and 2021, forcing it to seek more than 1 billion euros in personnel cuts at Mercedes-Benz Cars by end of 2022. data showed Germany's output grew 0.1% in the third quarter compared with the previous three months, defying investors expectation that Europe's economic powerhouse will slide into a recession. the numbers were not strong enough to dispel growth fears as China's factory output growth slowed significantly more than expected in October and Japan's economy ground to a near standstill. in genetic testing company Qiagen QIA.DE shot to the top of the STOXX 600, jumping 12.4% after Bloomberg reported scientific instruments maker Thermo Fisher Scientific (NYSE: TMO ) TMO.N had approached company about a potential deal. luxury brand Burberry's shares BRBY.L rose 8.7% after it said the popularity of collections by designer Riccardo Tisci boosted sales in its second quarter.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or