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April 15 (Reuters) - European shares headed lower on
Wednesday after a five-day rally, with investors turning to the
first-quarter earnings season to gauge the extent of the
business damage from the coronavirus pandemic.
The pan-European STOXX 600 index .STOXX was down 0.2% at
0713 GMT, after surging almost 8% since April 6 on early signs
the health crisis was ebbing and on hopes that sweeping lockdown
measures would soon be lifted.
The benchmark index has recovered about 24% since hitting an
eight-year low in March, but is still down about 22% from its
record high and analysts warn an uptick in coronavirus cases
could spark another sell-off.
French shares .FCHI fell 0.3% as France became the fourth
country to report more than 15,000 deaths due to the coronavirus
after Italy, Spain and the United States. Dutch navigation and digital mapping company TomTom
TOM2.AS shed 2.7% after saying it expected negative free cash
flow this year and lower revenue from its automotive and
consumer businesses due to the pandemic.
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European shares dip as focus turns to corporate earnings
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