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Weak earnings drag European stocks lower ahead of ECB meeting

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European shares eased from one-month highs on Thursday as a batch of weak earnings and mixed economic data from China dented sentiment, while investors waited to hear from the European Central Bank.

Dutch beer maker Heineken NV slid 2.6% as its first-half net revenue fell 16.4% due to coronavirus-related lockdowns.

“The data that came out from China was not terrible by any means, but if you look at consumers, it was not as strong as what investors may have hoped,” Rabobank strategist Bas van Geffen said.

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European stocks head for lower open, shrugging off Chinese growth data that beat expectationsEuropean stocks are expected to open in negative territory on Thursday, failing to get a boost from Chinese growth data showing a rebound in the economy.
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