European markets mixed amid US-China trade talks; Continental tanks 10%

The pan-European Stoxx 0 was flat during mid-morning deals, with sectors in addition to also major bourses pointing in opposite directions.

Europe’s autos stocks were the worst performers Wednesday morning, down more than 2.4 percent after the White House announced that will the plans to impose tariffs on autos imports would certainly be pushed back. In a Wall Street Journal interview published Tuesday, Commerce Secretary Wilbur Ross said that will a decision regarding autos charges would certainly be delayed because of ongoing negotiations with Mexico, Canada in addition to also the European Commission. He declined to set a completely new timeline.

Shares of Schaeffler, Michelin in addition to also Faurecia were all trading lower Wednesday morning, after Germany’s Continental issued a profit warning in addition to also dragged some other auto supplier stocks into negative territory. Continental was trading more than 10 percent lower at around 10:35 a.m. London time.

Looking at individual stocks, biotechnology group Argenx soared to the top of the index during mid-morning deals, following news drug giant Abbvie had decided to exercise its exclusive option to license ARGX-115 — a novel immuno-oncology antibody. Shares of the Brussels-listed stock climbed almost 6 percent.

Elsewhere, Norway’s Marine Harvest was trading lower Wednesday, after the company — one of the planet’s largest salmon producers — cut its 2018 output forecast. Shares of the firm were down around 2 percent.

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