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Bloomberg
European equities retreated at the open as Fiat dropped on the news of a change in chief executive and as investors considered President Donald Trump’s new tariff threats.
The Stoxx Europe 600 Index declined 0.3 percent, with the automakers and travel sectors pacing the retreat.
Fiat Chrysler Automobiles NV fell 4 percent after Mike Manley was named CEO to replace Sergio Marchionne.
Investors are preparing for a busy week of corporate earnings, with Ryanair Holdings Plc posting a 20 percent drop in first-quarter profit and Royal Philips NV reporting a 9.8 percent rise in second-quarter profit.
“Despite Friday’s selloff, markets in Europe are still well above their lowest levels this year, which means that investors still don’t appear too concerned for now,†said Michael Hewson, chief market analyst at CMC Markets UK.