European car stocks rally set to baulk at resistance

Newswire

* Carmakers up 22.4 pct in January * Sector index now at 318, major resistance at 322 By Joanne Frearson LONDON, Jan 31 (Reuters) - European auto stocks look likely to baulk at a major technical resistance level after returning a staggering 22.4 percent in January, as a raft of economic data shows growth and spending are slowing. The STOXX Europe 600 Automobiles & Parts index has outpaced all other sectors on the STOXX Europe 600 this year, with exporters like BMW and Daimler buoyed by ...

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