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London - European stocks incurred losses on Friday as some of the region's largest companies reported first-quarter earnings that disappointed investors
The pan-European Euro Stoxx 50 fell 0.77% to 2,683.48 at the closing bell on Friday. Stoxx Europe 600, the continent's broader average, fell 0.33% to 295.89, with all its sectors ending lower for the session.
Germany's DAX slipped 0.23% to 7,814.76. The French CAC 40 slid 0.79% to 3,810.05. Britain's FTSE 100 ceased trading 0.25% lower to 6,426.42 at the week's end.
European shares were dragged lower on downbeat earnings data from companies such as Total, Alcatel Lucent and BBVA all reporting worse than expected that and taking more than 1% loss for the day.
Germany's chemicals giant BASF was the top gainer with shares increasing 3.1% after if confirmed its outlook for rising revenues and earnings for this year.
Cable operator Ziggo plunged 6.7% and was the biggest loser after its owners Warburg Pincus and Cinven said they are selling as much as €952.3 million of shares in a bid to exit the company that went public last year.
BASF rose the most, while reinsurer Munchener Ruck dragged the index down with its shares slumping 5.6%.
Luxury goods company PPR reported disappointing sales for the first quarter that failed to meet analysts' estimates, with shares diving 6.72%.
Miners posted the biggest losses on Friday as most metal prices declined. Copper miner Kazakhmys fell 4.68% and Eurasian Natural Resources declined 6.82%, while steel and mining company EVRAZ lost 16.47%,
US economy growth misses estimates
On the fundamental front, data from US gave no support to equities in Europe with US economy first quarter expansion falling short of analyst estimates.
US economy grew 2.5% during first quarter this year, missing forecasts for 3.0%.
Economic news
In Europe, Germany's import prices dropped 0.1% in March on a monthly basis, compared with the rise of 0.3% recorded in February, the Federal Statistical Office reported on Friday.
Consumer confidence in France remained unchanged in April when compared with March, standing at 84 points, the country's National Institute for Statistics and Economic Studies said.
Private loans in the euro zone dropped 0.8% in March on an annual basis after the decline of 0.9% recorded in February, while M3 money supply data rose 2.6% on an yearly basis after February's 3.1% growth, the European Central Bank said in a report.
Italy auctioned Treasury bills maturing in 6 months with lower average yields when compared with the last similar auction conducted on March 26. The government raised the targeted €8 billion.
London - European stocks incurred losses on Friday as some of the region's largest companies reported first-quarter earnings that disappointed investors
The pan-European Euro Stoxx 50 fell 0.77% to 2,683.48 at the closing bell on Friday. Stoxx Europe 600, the continent's broader average, fell 0.33% to 295.89, with all its sectors ending lower for the session.
Germany's DAX slipped 0.23% to 7,814.76. The French CAC 40 slid 0.79% to 3,810.05. Britain's FTSE 100 ceased trading 0.25% lower to 6,426.42 at the week's end.
European shares were dragged lower on downbeat earnings data from companies such as Total, Alcatel Lucent and BBVA all reporting worse than expected that and taking more than 1% loss for the day.
Germany's chemicals giant BASF was the top gainer with shares increasing 3.1% after if confirmed its outlook for rising revenues and earnings for this year.
Cable operator Ziggo plunged 6.7% and was the biggest loser after its owners Warburg Pincus and Cinven said they are selling as much as €952.3 million of shares in a bid to exit the company that went public last year.
BASF rose the most, while reinsurer Munchener Ruck dragged the index down with its shares slumping 5.6%.
Luxury goods company PPR reported disappointing sales for the first quarter that failed to meet analysts' estimates, with shares diving 6.72%.
Miners posted the biggest losses on Friday as most metal prices declined. Copper miner Kazakhmys fell 4.68% and Eurasian Natural Resources declined 6.82%, while steel and mining company EVRAZ lost 16.47%,
US economy growth misses estimates
On the fundamental front, data from US gave no support to equities in Europe with US economy first quarter expansion falling short of analyst estimates.
US economy grew 2.5% during first quarter this year, missing forecasts for 3.0%.
Economic news
In Europe, Germany's import prices dropped 0.1% in March on a monthly basis, compared with the rise of 0.3% recorded in February, the Federal Statistical Office reported on Friday.
Consumer confidence in France remained unchanged in April when compared with March, standing at 84 points, the country's National Institute for Statistics and Economic Studies said.
Private loans in the euro zone dropped 0.8% in March on an annual basis after the decline of 0.9% recorded in February, while M3 money supply data rose 2.6% on an yearly basis after February's 3.1% growth, the European Central Bank said in a report.
Italy auctioned Treasury bills maturing in 6 months with lower average yields when compared with the last similar auction conducted on March 26. The government raised the targeted €8 billion.
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