European shares struggle as trade concerns weigh

  • Reuters
  • Stock Market News
European shares struggle as trade concerns weigh
Credit: © Reuters.

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May 7 (Reuters) - European shares were little changed early on Tuesday with London markets leading losses as investors returned from a long weekend to digest a slew of earnings and watch for developments around U.S.-China trade talks.

The pan-European STOXX 600 index .STOXX flitted between gains and losses and was last up 0.1 percent by 0735 GMT.

UniCredit CRDI.MI helped lift the Milan index .FTMIB after Italy's biggest bank said it was considering a sale of its FinecoBank FBK.MI unit and had adopted measures to ensure the online broker could operate outside the group. the region, banks .SX7P fell 0.7 percent, the biggest sectoral decline.

Mobile phone group Cellnex CLNX.MC gave a major boost to the IBEX 35 index .IBEX on news that it had the go-ahead to buy Iliad's ILD.PA mobile tower assets in France and Italy for 2 billion euros ($2.24 billion. biggest residential property company Vonovia VNAn.DE boosted the real estate sector .SX86P after it raised its full-year profit guidance. ESLX.PA shares edged higher as the eyewear maker kept its full-year outlook unchanged after posting upbeat first-quarter sales. Air NWC.OL climbed 8 percent after the carrier reported that its aircraft filled up at a faster pace and income per passenger for April improved despite the grounding of its Boeing (NYSE: BA ) BA.N 737 MAX jets. decliners, Henkel HNKG_p.DE slid more than 3 percent after the German consumer goods company reported a disappointing quarter of earnings as its adhesives business was hit by falling industrial production and its beauty unit underperformed in western Europe and China. GFS.L shares landed at the bottom of STOXX 600 after Garda World Security Corp dropped interest in its cash solutions business. BMWG.DE dropped after reporting a 78 percent fall in quarterly operating profit, as it took a hit from higher investment spending and a legal provision. markets around the world were hit on Monday after U.S. President Donald Trump threatened to hike tariffs on Chinese goods by Friday, raising prospects of an escalation in trade tensions between the world's largest economies. China's commerce ministry said on Tuesday Vice Premier Liu He will visit the United States on May 9 and May 10 for bilateral trade talks at the invitation of senior U.S. officials.

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