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STOCKS NEWS EUROPE-BMW down after weak auto division results

Reuters - UK Focus

Shares in BMW (Xetra: 519000 - news) fall 4.1 percent in early trade, making the the worst performers on Germany's blue-chip DAX index, after the luxury carmaker reports a bigger-than-expected decline in third-quarter operating profit at its key automotive division.

"The autos business isn't really going entirely well," one trader says.

Others point to profit-taking. "With BMW, the circle (of car companies reporting) is now complete, so maybe some people are cashing in," MM Warburg analyst Marc-Rene Tonn says.

BMW shares, which are at their lowest level in almost a month, have gained 15 percent so far this year. That is less than a 19 percent gain by the DAX.

Reuters messaging rm://daniela.pegna.thomsonreuters.com@reuters.net

rm://andreas.cremer.thomsonreuters.com@reuters.net