European stocks dipped on Thursday as investors digested mixed corporate results, while the mood remained wary amid a changing US tone around the trade war with China in recent days.
The pan-European STOXX 600 index was down 0.3% as of 0714 GMT.
Global markets were shocked by US President Donald Trump’s attacks on Federal Reserve Chair Jerome Powell last week, although he retracted calls for his resignation just days later.
The situation on tariffs on China remained unclear, though the White House showing willingness to de-escalate the trade war helped European stocks and Wall Street recover on Wednesday.
The European benchmark index slumped nearly 18% from record highs earlier this month after the world’s top two economies slapped eye-watering tariffs on each other, triggered fears of a global recession.
In busy day of corporate results, Adidas shares rose 1.9% after the German sportswear and apparel maker reported first-quarter sales and profit above expectations.
European shares at near three-week highs as US-China trade tiff appears to ease
On the other side, France’s BNP Paribas fell 2.3% after the euro zone’s biggest bank by assets reported first-quarter earnings in line with expectations. Kering fell 4% after the luxury group reported a bigger-than-expected decline in first-quarter revenue.
Attention will be on the German Ifo index data later in the day, which is forecast to show a decline in business morale in Europe’s biggest economy for April, a day after dour PMI readings for the euro zone and Britain.
