LONDON - European shares dipped on Monday
with the autos sector hitting its lowest level this year after
anti-trust regulators opened an investigation into regional
carmakers while worries on escalating price wars hurt airlines.
The pan-European STOXX 600 fell 0.2 percent as
gains in the heavyweight financials sector helped offset losses
elsewhere. Euro zone bluechips also fell 0.2
percent.
Gemalto plummeted as much as 17 percent, the worst
performer on the day, after the digital security company warned
on profits for the fourth time since October on Friday after
trading, citing continued weakness in its SIM-card and U.S.
payments operations.
Budget airline Ryanair fell 4.7 percent, a top
European loser, after it warned summer fares would face sharp
cuts, though it reported profit soared 55 percent in its first
quarter.
Shares in carmakers across Europe fell after European Union
antitrust regulators said they were investigating allegations of
a cartel amongst them.
Volkswagen, Peugeot, Daimler
, Renault and BMW all fell 1.2 to
2.5 percent, sending the autos index down 1.6 percent,
the worst-performing sector.
Among leading gainers was B&M European Value Retail
, up 4.1 percent after a report that Asda, the British
supermarket arm of U.S. retail giant Wal-Mart, was
considering a 4.4 billion pound takeover bid.
Switzerland's third largest private bank Julius Baer
jumped 6.5 percent after reporting its biggest inflows
since the financial crisis for its first half, helped by a push
to recruit more private bankers.