BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks gave up early gains to drift lower on Thursday as mixed PMI data overshadowed investor optimism over progress in talks between the U.S. and China.
A Reuters report said the two sides had started to outline commitments on the stickiest issues in their trade dispute to end a seven-month trade war.
On the data front, the Eurozone manufacturing PMI dropped further to 49.2 in February while services PMI hit a three-month high of 52.3, survey from IHS/Markit Research showed.
A reading on French business activity topped forecasts, sending Euro zone government yields higher across the board.
The benchmark CAC 40 was down 6 points or 0.11 percent at 5,189 in opening deals after closing 0.7 percent higher on Wednesday.
Hotel giant Accor tumbled 3 percent as it reported 2018 EBITDA in line with group's guidance.
Insurance firm Axa advanced 1.8 percent. The company expects higher earnings this year after fiscal 2018 net income fell 66 percent as a result of charges related to its U.S. unit's IPO and a spate of natural disasters.
Industrial group Bouygues rallied 3.3 percent after reporting higher 2018 net profit while telecoms operator Orange dropped 1.7 percent after warning of lower EBITDA growth in 2019.
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