European stocks slip at open; Mercedes down 3.2% after earnings plummet

NatWest’s shares jumped to a 9-year high after reporting increased profits and raising its full-year outlook. The bank’s third-quarter profit was higher than expected, leading to a rise in its stock price. NatWest also saw growth in net loans, particularly in commercial and institutional customers. On the other hand, Mercedes shares fell 3.2% after reporting a sharp profit decline in its core cars division due to increased competition in China. In European markets, stocks opened slightly lower, with Germany’s DAX and France’s CAC 40 down. China’s central bank kept the interest rate on medium-term loans unchanged at 2% to maintain liquidity in the banking system. Morgan Stanley predicts a transformation in the power sector, naming global stocks with potential for a 40% rise.