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Autos Pressure European Stocks |
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1:02 PM EDT September 18 2006 |
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European markets made a mixed performance at close as higher oil prices contributed to gains by commodities stocks but also pressured the automotive sector. BP added 1.1% amid reports that the company is set to launch a root-and-branch review of its global operations in response to last year''s Texas City refinery blast. Among auto stocks, German truck maker Man lost 5.3%, while Swedish counterpart Scania rose 5.9% after Scania rejected a $12.2 billion offer from Man. DaimlerChrysler dipped 0.8%, extending recent losses. U.S. stocks were steady Monday as investors were looking ahead to Wednesday’s FOMC meeting. London FTSE 100 advanced 0.2%, the French CAC 40 erased earlier losses to close flat at 5,146, while the German DAX 30 fell 0.2%.
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