European stocks ease from record high ahead of earnings season

The pan-European STOXX 600 index slipped 0.1 per cent by 0711 GMT, following Asian markets into the red as investors waited to see if U.S. earnings can justify sky-high valuations.

By Reuters | Updated: Apr 12, 2021, 01.51 PM IST

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

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 per cent 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.

UK's domestically focussed FTSE mid 250 index inched 0.2 per cent 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 per cent after HSBC downgraded their stocks to "hold" from "buy".

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

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