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Your European Stocks Just Had A Bad Day

Well, European equities closed the week on a decidedly sour note, as Friday saw tobacco shares plunge and Stoxx 600 automakers decline sharply, with the latter posting their largest back-to-back weekly decline in 15 months.

Weighing on sentiment Friday was Renault, which fell hard on 1H results that Morgan Stanley called “disappointing.” Renault’s auto margins were “slightly up on last year but still a little bit below some of the benchmarks”, SocGen said.

You’re reminded that this...