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Feb 13, 2018 02:19 PM IST | Source: CNBC

Europe markets mixed amid earnings; Randstad shares up 2.5%

Auto stocks were among the top losers in early trade, down by 0.2 percent, weighed on by tiremaker Michelin. Shares of the company dropped more than 1 percent after reporting its latest results and adding that its profits are likely to be hurt by currency moves.

CNBC

The pan-European Stoxx 600 was 0.07 percent lower in early deals with sectors and major bourses moving in different directions.

Auto stocks were among the top losers in early trade, down by 0.2 percent, weighed on by tiremaker Michelin. Shares of the company dropped more than 1 percent after reporting its latest results and adding that its profits are likely to be hurt by currency moves.

Travel and leisure stocks were the top performers, up by 0.4 percent. In particular, shares of Tui Group were up by 2.5 percent after narrowing its net loss in its first quarter and confirming its full-year guidance.

Overall, stocks held on to the rebound seen earlier this week as investors regained some confidence after last week's steep losses. Looking across the European benchmark, most market moves were driven by earnings. Ubisoft led the gains, up by 5.3 percent, after reporting higher revenues for its third quarter.

Randstad rose above 2.5 percent after beating analysts expectations with a core profit up by 15 percent in its fourth quarter.

Elsewhere, UK inflation data for January is expected to be published at around 9:30 a.m. London time.

In commodity markets, oil prices were up on Tuesday morning, supported by the global market rebound and a fall in the US dollar. Brent was up by 0.4 percent, trading at USD 62.84, and WTI rose 0.3 percent, being sold at USD 59.47 at about 8.20 a.m. London time.
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