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Europe: Stock markets hit by carmakers at open

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Eurozone stock markets steadied at the start of trading Thursday, struggling to drive higher as share prices of carmakers slumped on the collapse of Fiat Chrysler's proposed merger with Renault.

[LONDON] Eurozone stock markets steadied at the start of trading Thursday, struggling to drive higher as share prices of carmakers slumped on the collapse of Fiat Chrysler's proposed merger with Renault.

Frankfurt's DAX 30 index edged up 0.1 per cent to 11,987.92 points and the Paris CAC 40 was fractionally higher at 5,293.72.

Outside the eurozone, London's benchmark FTSE 100 index climbed 0.3 per cent to 7,238.80 points compared with Wednesday's close.

French carmaker Renault's share price slumped 7.1 per cent to 52.21 euros in Paris and Italian-American peer Fiat shed 3.2 per cent to 11.3 euros on the Milan stock market at the open, before recovering slightly in early trading.

AFP

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