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European Shares Slip on Auto, Energy Drag; Siemens Drops on Bleak Earnings
European Shares Slip on Auto, Energy Drag; Siemens Drops on Bleak Earnings

European Shares Slip on Auto, Energy Drag; Siemens Drops on Bleak Earnings

Brussels,16 May (ONA) --- European shares saw a slight dip today, with Siemens leading losses after a second-quarter industrial profit miss. Automobile and energy sectors were also affected by several major players trading ex-dividend.

The pan-European STOXX 600 slipped 0.1%, following a record high on Wednesday. Anticipation for a September rate cut by the Federal Reserve was fueled by lower-than-expected U.S. consumer price increases in April, boosting global sentiment.

Despite record-breaking runs last month, European shares showed resilience with nine consecutive days of gains, fueled by robust corporate earnings.

However, sectors like automobiles and energy experienced declines.

---Ends/Thuraiya/KH

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