European stocks fell amid a deluge of earnings, trading updates and disappointing results from the US tech giant. Meta.
A higher-than-expected first-quarter U.S. inflation reading further weighed on investor confidence, even as they awaited the release of another major inflation report, due the following day.
The benchmark Stoxx 600 index was down 0.64% at 502.38, with most major European exchanges lower. London’s FTSE 100 index was the exception.
The German Dax for its part lost 0.95% to 17,917.28, while the FTSE Mib lost 0.97% to 33,939.75.
Euro/dollar, yields on long-term German bonds and Brent crude oil futures were all higher.
Anglo-American shares jumped 16% after confirming it had received an unsolicited, non-binding and highly conditional share buyback proposal from Australia. BHP Group.
In economic news, new signs indicate that the German economy – Europe’s largest – could be heading towards a recovery with the Gfk The consumer sentiment indicator reached a two-year high at -24.2 for the month of May.
The data follows a better-than-expected composite PMI survey and Ifo business climate survey.
In an absolute torrent of quarterly results, Sanofi shares jumped 5% after the French pharmaceutical maker released upbeat numbers. German online takeaway business Delivery Hero jumped 13% after raising its annual revenue outlook.
Actions of Adyen fell 18% to the bottom of the Stoxx after the Dutch digital payments company failed to meet expectations for first-quarter sales.
Elsewhere, the shares of a British bank Barclays grew despite a 12% drop in profits in the first quarter. Consumer goods conglomerate Unilever was higher after a positive trading update.
Bank Sabadell jumped 9% after reporting a 50% rise in net profit in the first quarter.
