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Automotive stocks were under pressure on yesterday. The Italian-American automaker FiatChrysler issued a profit warning and as a result, BMW, Daimler, Volkswagen, the automotive supplier Continental and the semiconductor specialist (for the car industry) Infineon, fell by as much as 3.5 percent. Even the largest US automaker GM lowered its full-year forecast due to higher raw material costs by tariffs on steel and aluminum. This is having an impact on the markets.
On the corporate side, the focus was on Deutsche Bank and its fund subsidiary DWS. The asset manager again suffered cash outflows in the second quarter.
Major news today! ECB rate decision and press conference.
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