European shares slip as investors eye more corporate earnings

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April 20 (Reuters) – European shares edged lower on Thursday following a mixed bag of earnings on Wall Street, while investors awaited more economic data from the euro zone and corporate results to assess the strength of the region.

The pan-European STOXX 600 index .STOXX was down 0.2%, with utilities .SXPP and automobile shares .SXAP dragging the index, falling 1.2% and 2.1%, respectively.

However, bank shares .SX7P rose 1.0%, limiting losses.

Investors will keep a close eye on consumer confidence data, due at 1400 GMT, which is expected to show a slight improvement in consumers’ expectations of the economic conditions in the region in April compared to a month ago.

On earnings front, Sartorius AG SATG.DE dropped 11.0% after the Franco-German lab equipment maker reported a decline in Q1 2023 sales revenue and earnings.

Sweden’s AB Volvo VOLVb.ST rose 1% as the truck maker lifted its outlook for key heavy-duty truck markets in Europe and North America this year on Thursday.

German producer prices rose less than expected in March. Producer prices of industrial products were up 7.5% year-on-year, compared to a Reuters poll that had indicated a rise of 9.8%.

(Reporting by Shubham Batra in Bengaluru; Editing by Varun H K)

((Shubham.Batra@thomsonreuters.com;))