The pan-European Stoxx 600 slipped fractionally below the flatline in early trade, with banks adding 0.9% while travel and leisure stocks dropped 0.7%. Sharp declines for Danish and Swedish markets weakened the continental picture.
European investors are digesting a slew of earnings reports from Deutsche Bank, Sanofi, Dassault Systemes, Banco Santander, Spotify, French Connection, GlaxoSmithKline and Lloyds Banking Group, among others.
Deutsche Bank reported a 908 million euro ($1.1 billion) profit for the first quarter, its strongest quarterly profit for seven years, buoyed by continued strong performance in its investment banking division.
The German lender’s shares surged 6.4% to lead the Stoxx 600 in early trade, while Lloyds added 4% after also beating earnings expectations.
News Source: cnbc