UK Markets News

European stocks ended lower on Thursday, as earnings worries ran high after poor results from software firm SAP sank technology shares, although hopes of looser monetary policy from the European Central Bank helped indexes bounce off early lows.

European stock markets lost ground on Wednesday after three straight days of gains, with Swedish share prices hit by a slew of poor quarterly results and oil majors across the region reeling from this week's slide in oil prices.

British fashion brand Burberry's shares jumped on Tuesday, lifting other luxury goods makers, while upbeat earnings from big Wall Street banks spurred gains for the region's lenders, driving major European markets to their highest closing levels in a week.

Companies listed on the pan-European STOXX 600 index are expected to report earnings growth of 0.2% in the second quarter, one of the the weakest in years and down from 0.8% estimated a week ago, according to data from I/B/E/S Refinitiv on Tuesday.

European stocks ended higher on Monday as trade-sensitive German equities took heart from surprisingly strong Chinese data after worries about domestic growth led to a shaky start.

European shares were little changed on Friday as drugmakers came under pressure on worries the U.S. government may intervene over high drug prices, while Federal Reserve chairman Jerome Powell's dovish comments helped limit losses.

(Refiles this July 11 story to remove superfluous word in first paragraph.)

European shares were set to snap four days of losses on Thursday, after U.S. Federal Reserve Chair Jerome Powell's dovish comments cemented hopes of an interest rate cut this month, even as trade frictions between France and the United States rose.

European shares closed lower for a fourth straight session on Wednesday as concerns about trade tensions and a weak global economy highlighted by Fed chair Jerome Powell overshadowed short-lived optimism of an interest rate cut later in the month.