European shares are down because of the automotive sector

(Reuters) - European stocks fell on Friday amid falling Daimler shares after the publication of weak quarterly results, as well as due to the planned investigation into the automaker understating emissions data.

By 10:47 GMT the pan-European FTSEurofirst 300 index fell 0.4 percent to 1.371,76 points, the British FTSE 100 - by 0.7 percent to 6.336,84 points, the DAX German - by 0.4 percent to 10.398,70 points, France's CAC 40 - by 0.3 percent to 4.567,73 points.

The European car sector index fell 2.2 percent amid falling Daimler shares.

Operating profit of the German automotive group fell by 9 percent in the first quarter. The company also announced that it would hold an internal investigation of the certification process related to harmful emissions in the United States.

rival paper - PSA Peugeot Citroen - fell 2.8 percent after raids on Thursday in the investigation of cases of harmful emissions in the automotive sector.

Shares of the French holding company Kering (PA: PRTP), who owns a significant number of brands of premium slowed 4.1 percent after its flagship brand Gucci has reported an increase in sales did not meet expectations, against the backdrop of a difficult situation in the sector of luxury goods. Kering overall sales in the first quarter also fell short of forecasts.

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