European stocks ex-London drop amid poor corporate news

The European stocks set-off the week on a mixed note, as dust settled over the US jobs report aftermath. The sentiment soured soon amid a slew of negative corporate news and resurfacing Hard-Brexit worries, which sent most major indices in the red zone.

The FTSE 100 index hit a fresh record-high near 7240 levels, mainly driven by heavy selling seen in the GBP, in response to UK PM Theresa May’s comments, which signaled a Hard-Brexit. Exports-oriented and resources stocks benefited from GBP softness and kept the index underpinned.

While markets ignored upbeat Eurozone Sentix Investors’ Confidence data, as focus remained on corporate earnings news. Lufthansa’s stock slumped over -5% after the German airliner predicted that the fuel costs will rise this year and failed to provide earnings forecast for 2017. Further, Fresenius Medical Care AG & Co. KGaA dropped 7% after the company warned that its US business could be hurt by planned regulation changes. 

Meanwhile Germany's DAX 30 index trades -0.36% lower at 11,556 levels, while the UK’s FTSE 100 index advances +0.20% to trade around 7,225. Among other indices, the French CAC 40 index drops -0.59% to 4,880. The pan-European Euro Stoxx 50 index declines -0.43% to just ahead of 3,300 mark.