European stocks ease from record high ahead of earnings season

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 1, 2021. REUTERS/Staff

(Reuters) – European stocks eased from all-time highs on Monday as investors held off from making big bets ahead of the earnings season, while British retailers were set to reopen as the economy emerges from a strict winter lockdown.

The pan-European STOXX 600 index slipped 0.1% by 0711 GMT, following Asian markets into the red as investors waited to see if U.S. earnings can justify sky-high valuations. There were some concerns as COVID-19 cases continued to surge globally. [MKTS/GLOB]

UK’s domestically focussed FTSE mid 250 index inched 0.2% lower, but hovered below a record high as shops, pubs, gyms and hairdressers reopened after three months of lockdown.

Airlines EasyJet and Ryanair fell close to 3% after HSBC downgraded their stocks to “hold” from “buy”.

Italian diagnostics group DiaSorin SpA jumped 7.5% after it said it will acquire U.S. based Luminex Corp for $1.8 billion in an all-cash deal.

Source: Read Full Article