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Europe: Shares dip, banks and Boeing suppliers in focus

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[BENGALURU] Most European stocks slid on Monday amid losses across most sectors, with German bank and real estate shares drawing investor attention as did European suppliers of US planemaker Boeing following a production cut announced late on Friday. Read more at The Business Times.

France's Safran SA slid 2 per cent as Boeing Co revealed a plan to cut 737 aircraft production by nearly a fifth.Melrose Industries, another supplier to Boeing, slid 2 per cent, while Meggitt recouped early losses to end 0.2 per cent higher.Real estate stocks fell 1.3 per cent with Deutsche Wohnen dropping 3.1 per cent following protests over the weekend demanding expropriation of apartments in Berlin that have been sold off to big private landlords.

Software firm SAP dropped as much as 2.2 per cent after it said the head of its cloud business group had quit, but regained some ground to close 0.6 per cent lower. Daimler ended little changed. The German auto giant had been weighed down by the prospect of potentially hefty fines after EU antitrust regulators charged the firm along with Volkswagen and BMW with colluding to block the rollout of clean emissions technology.

 

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