Autos lead losses in Europe after Tesla cuts prices
** Shares in European carmakers slip on Monday, with traders linking the move to Tesla TSLA.O cutting prices in a number of its major markets, including China and Germany
** The STOXX 600 autos index .SXAP is down around 1% to five-week lows, leading losses among sectoral indexes on the wider STOXX 600 .STOXX
** Citi analysts say the index might have peaked in April with rising geopolitical fears, fewer rate cuts expected from Fed and a potential ECB rate cut soon
** "With a 30% higher DAX, and 35% higher SXAP, we would suggest some caution in chasing this rally now, and we would agree if investors wanted to reduce some beta exposures at this stage," they say in a note
** Volvo Car VOLCARb.ST, down around 3%, is top loser on the index; Volkswagen VOWG_p.DE and Mercedes-Benz MBGn.DE are down around 0.7%-0.8%
Reporting by Danilo Masoni, Anna Pruchnicka
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