European Shares Drift Lower As Investors Assess Earnings

(RTTNews) - European stocks traded lower on Thursday as the situation on U.S. tariffs on China remained unclear and earnings proved to be a mixed bag.

The pan European STOXX 600 was down 0.6 percent at 513.50 after climbing 1.8 percent on Wednesday to hit a three-week high.

The German DAX fell 0.9 percent despite the latest survey results showing an unexpected improvement in German business morale in April. France's CAC 40 shed 0.8 percent and the U.K.'s FTSE 100 dipped 0.3 percent.

French automaker Renault rose nearly 3 percent after reaffirming its FY25 outlook.

Lender BNP Paribas tumbled 4.2 percent after reporting mixed quarterly results.

Italian energy group Eni added 1.5 percent as it reported a smaller than expected 11 percent drop in Q1 net profit.

Delivery Hero SE plunged nearly 7 percent. The German food ordering and delivery firm confirmed its 2025 guidance after reporting a gross merchandise value in line with market expectations for the first quarter.

Sportwear and apparel maker Adidas jumped 2.5 percent after delivering better-than-expected sales and profit for the first quarter.

Consumer goods giant Unilever gained nearly 1 percent after beating first-quarter underlying sales growth estimates.

Finnish telecom Nokia plummeted 8.2 percent as it reported first-quarter profit well below market expectation and flagged a short-term disruption from U.S. tariffs.

Food and beverage giant Nestle dropped more than 1 percent after it warned of heightened consumer uncertainty.

Chipmaker STMicroelectronics rallied 2 percent as it reported first-quarter earnings in line with expectations.