Key Points: European stocks opened lower on Friday as traders looked ahead to fresh economic data and digested a report that raised doubts over a possible coronavirus treatment.Risk sentiment took a hit late on Thursday after a report in the Financial Times, citing documents accidentally published by the WHO, said that drug remdesivir from Gilead had failed to improve patients' conditions.
European stocks were lower on Friday as traders monitored fresh economic data and digested a report that raised doubts over a possible coronavirus treatment.
The pan-European Stoxx 600 pared earlier losses but was still down 0.4% by mid-afternoon. The travel and leisure sector fell 2.7% to lead losses while food and beverages bucked the downward trend to climb 0.7%.
Risk sentiment took a hit late on Thursday after a report in the Financial Times, citing documents accidentally published by the WHO, said that drug remdesivir from Gilead had failed to improve patients' conditions.
Gilead noted that study was "terminated early due to low enrollment," leaving it "underpowered to enable statistically meaningful conclusions. As such, the study results are inconclusive."
Elsewhere, sentiment was also dampened by a report from the U.K.'s Office for National Statistics (ONS), which revealed on Friday that British retail sales had fallen at the fastest rate on record in March.
Earnings in focus
Investors were also digesting a slew of earnings from European companies on Friday.
Nestle posted better-than-expected results for the first quarter, reporting a 4.3% rise in organic sales as consumers stockpiled food amid coronavirus lockdowns. Shares were up 1.5% on Friday afternoon.
French drugmaker Sanofi's stock was also lifted, with shares edging into positive territory after the company confirmed its 2020 outlook.
Meanwhile, lighting manufacturer Signify surged to the top of the European benchmark, despite the firm reporting a 39% year-on-year decline in net profit. Shares were more than 14% higher.
At the other end of the Stoxx 600, Lufthansa and Tui both fell by more than 7%.
British cinema chain Cineworld's shares shed 6.1%, continuing the company's losses from previous sessions.
原文地址：https://www.cnbc.com/2020/04/24/europe-markets-traders-cautious-on-coronavirus-treatment-earnings.html