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London - A slide in commodity producers and disappointing earnings results weighed on European equities.
Lloyds Banking fell 3.3% as Britain’s largest mortgage lender posted a slide in profit after taking a charge to compensate customers who were wrongly sold loan insurance.
Vinci dropped 2.8%, dragging construction companies lower, as its revenue fell. Energy producers slipped with oil, while miners declined after reaching their highest prices since August of last year.
The Stoxx Europe 600 Index lost 0.4% at 09:21. After posting its best weekly rally in a month, the gauge has failed to maintain gains and ended lower in the past two days.
The measure is still below its pre-Brexit level and is heading for its first annual decline since the height of the sovereign-debt crisis in 2011.
Among other stocks moving on earnings, Novozymes sank 11% after its sales and profit missed projections, and Capgemini lost 5.4% after reporting a drop in revenue.
Kering was among the biggest gainers in the Stoxx 600. It rallied 8% after posting its fastest sales growth since 2012. Logitech International jumped 10% as it beat earnings and revenue projections. Banco Santander rose 1.2% and Nordea Bank added 1.7% as their profits topped estimates.
Ericsson rose 3.2% after appointing Borje Ekholm as President and CEO.
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