Europe close: Stocks slump amid deluge of company news, U.S. inflation data

(Sharecast News) - European shares fell amid a deluge of earnings, trading updates, and disappointing results from US tech giant Meta.

Further dragging on investor sentiment was a stronger-than-expected reading for U.S. inflation during the first quarter, even as they waited on the release of another important inflation report due out the next day.

The benchmark Stoxx 600 index was down 0.64% at 502.38 with most major European bourses lower. London's FTSE 100 was the exception.

Germany's Dax meanwhile was off by 0.95% to 17,917.28, while the FTSE Mib gave back 0.97% to 33,939.75.

Euro/dollar, yields on longer-term German Bunds and Brent crude oil futures were all higher.

Anglo American shares surged 16% after it confirmed it had received an unsolicited non-binding and highly conditional all-share takeover proposal from Australia's BHP Group.

In economic news, there were further signs that the German economy - Europe's biggest - may be heading towards recover with the Gfk consumer climate indicator rising to a two-year high of -24.2 for May.

The data comes after a better-than-expected composite PMI survey and Ifo business climate survey.

In an absolute torrent of quarterly results, Sanofi shares jumped 5% after the French drugmaker posted upbeat numbers. Germany online takeaway food company Delivery Hero surged 13% after lifting its annual revenue outlook.

Shares of Adyen slumped 18% to the bottom of the Stoxx after the Dutch digital payment company missed expectations on first-quarter sales.

Elsewhere, shares in UK bank Barclays gained despite a 12% fall in first-quarter profits. Consumer goods conglomerate Unilever was up after a positive trading update.

Banco Sabadell surged 9% after posting a 50% rise in first-quarter net profit.