BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks drifted lower on Thursday as weak earnings updates and mixed PMI data offset investor optimism over progress in talks between the U.S. and China.
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 pan European Stoxx 600 was down 0.1 percent at 371.03 in opening deals after rising 0.7 percent in the previous session.
The German DAX was moving up 0.2 percent, paring early gains. France's CAC 40 index was marginally lower and the U.K.'s FTSE 100 was declining 0.7 percent.
French hotel giant Accor tumbled 3.4 percent as it reported 2018 EBITDA in line with group's guidance.
Banking giant Deutsche Bank dropped 1 percent in Frankfurt on a Wall Street Journal report that it has lost $1.6 billion over nearly a decade on a complex municipal-bond investment that it bought before the 2008 financial crisis.
Danish shipping group Moeller-Maersk slumped 10 percent on concerns over its outlook for 2019.
TechnipFMC lost 8 percent after the oil services firm took charges relating to its subsea business, restructuring costs and historical investigations into the company.
Swiss banking giant UBS dropped 1.6 percent after it has been fined €3.7bn (£3.2bn; $4.2bn) in a French tax fraud case.
Centrica slumped as much as 10 percent in London after a warning that the U.K. government's cap on energy prices would hit its financial performance in 2019.
Likewise, defense giant BAE Systems slumped 6.4 percent. The company said a German ban on Saudi arms sales could hurt its financial performance.
Glencore dropped 1.7 percent and BHP fell 1.3 percent as London copper prices eased from seven-month high amid dollar strength.
Lender Barclays rallied 3.2 percent as it swung back to profit in 2018.
Public services provider Serco jumped 5.7 percent as it hiked sales guidance for 2019.
Reinsurer Swiss Re rose 1.2 percent after announcing a new share buyback.
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