- A profit warning from Mercedes-Benz maker Daimler dampened European stock markets early on Monday, as investors looked for direction to a G20 summit this week that brings U.S. and Chinese leaders together after a long lull in talks.
That, allied to data showing German business morale fell in June, sent peers Volkswagen AG Bayerische Motoren Werke AG and Porsche Automobil Holding down about 1%. “For the time being traders are looking forward to the G20 summit ... By and large what we’ve heard in the last two or three weeks from the U.S.-China trade situation, it seems to have been positive.”
The benchmark index has gained 4.3% this month, recouping almost all of its losses from a sharp sell-off in May, as the Federal Reserve and European Central Bank signaled that they were ready to act to counter the impact of trade tensions on a slowing global economy.
Source: News Formal (newsformal.com)
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