European stocks closed sharply lower on Thursday after a brief uptick the previous day as investors weighed a fresh round of mixed corporate earnings and signs of higher unemployment in the US. The STOXX 50 fell 1% to 5,613 and the STOXX 600 fell 0.7% to 567.
Commerzbank shares slipped 2% after the lender reported a surprise 7.9% year-on-year drop in net profit. Also, Diageo fell 6.5% following a downgrade to its full-year outlook, while Maersk lost 5.1% despite posting upbeat results and Rheinmetall fell 0.5% despite posting a 20% increase in sales.
On the upside, DHL jumped 5.4% to rank among the top performers after achieving earnings growth despite ongoing trade tensions. Also, AstraZeneca added 2.9% after posting record quarterly revenue and reaffirming its full-year guidance. Sainsbury's gained 1.4% after raising its outlook.
Source: Trading Economi
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