European stocks opened lower in early trading on Thursday as a relief rally stalls.

The pan-European Stoxx 600 index was down by 0.5% at 8:30 am London time. Meanwhile, Germany's DAX and France's CAC 40 were also lower by 0.7%. The U.K.'s FTSE 100 is trading flat.

Investors are digesting earnings releases from Unilever, Banco Sabadell, Sanofi, Eni, BNP Paribasand Dassault Systemes

Regional markets had followed their global counterparts higher on Wednesday as concerns about a trade war between the U.S. and China receded.

U.S. stocks also surged on Wednesday after President Donald Trump said he didn't plan to remove Federal Reserve Chairman Jerome Powell from his post as central bank leader. Market sentiment had dipped in recent days amid concerns that the central bank's independence could have been compromised.

S&P 500 futures rose on Wednesday night after the major U.S. averages posted a second straight winning day, while Asia-Pacific markets traded mixed overnight as a possible thaw in U.S.-China trade war fueled investor optimism.
London-listed Anglo American
, one of the world's largest diamond miners, has lowered the production of rough diamonds by 11% to 6.1 million carats in the first quarter, the company said in a trading update.

Anglo said the production decline comes in response to a fall in prices for diamond jewelry in light of tepid demand.

"Consumer demand for diamond jewellery in the United States over the year-end holiday season was in line with expectations, however, rough diamond demand in the first quarter remained subdued as the midstream continued its cautious approach to restocking due to excess loose polished diamond inventory," the company said in a statement to investors.

"While there were signs of loose polished diamond prices stabilising towards the end of the quarter, lifting industry confidence, ongoing macroeconomic uncertainty, in particular the impact of US tariffs, will likely result in continued cautious Sightholder purchases in the near term. We continue to manage the business to preserve cash while maintaining underlying value."

The company added that it is still "committed" to a sale of its diamond subsidiary DeBeers, "completing at the right time and when market conditions allow."

Shares have declined by more than 11% in 2025.

Source: CNBC