European equities face faltering start to 2018 as miners and car makers weigh

European equities face faltering start to 2018 as miners and car makers weigh

On Tuesday, European equities faltered at the start of 2018 because autos shares dived and an impressive run-up in metals as well as mining stocks reversed. Meanwhile, strength in crude companies and financial institutions was not enough to tame the slide.

The STOXX 600 lost 0.3%, while euro zone stocks STOXXE edged down 0.4%.

Autos stocks SXAP descended 2%, set for their biggest daily dive since July 2017, suppressed by weaker car registrations data.

In France, in December, new car sales dived 0.51% and the share of new diesel vehicles sank below 50% for the first time since 2000.

Traders also hinted at a report in Britain's Daily Telegraph citing estimates that British car registrations data, due out on Friday, would demonstrate a 5% dip in new car sales.

BMW, Fiat Chrysler, Renault, Peugeot and Volkswagen all appeared to be among top losers, sliding 2.4%-2.8%.

As for basic resources stocks, they fell back too, with the sector index sliding 0.8%.

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