European stocks down amid concerns renewal about banking ‎sector

European stocks fell today, Thursday, despite the issuance of positive results from a group of companies, as the turmoil related to the First Republic Bank continues to raise investor concerns about the global banking sector.

According to “Reuters”, the European Stoxx 600 index fell 0.1 percent by 0720 GMT, after media stocks fell 1.6 percent. Shares in Universal Music Group fell 4 percent after its core profit fell in the first quarter.

Healthcare stocks were the best performer on the index, up 0.9 percent

Concerns about the banking sector unnerved investors after First Republic Bank shares plunged nearly 30 percent on Wednesday, hitting a record low for the second day in a row.

Despite this, banking stocks rose 0.4 percent, led by Barclays, whose share jumped 2.4 percent, following quarterly profits that exceeded estimates, after the strong performance of individual services relieved some of the pressure on other major activities.

Unilever shares rose 1.5 percent, supported by better-than-expected quarterly core sales, after Dove soap maker raised prices again to cover higher commodity and supply chain costs.

AstraZeneca shares rose 1.7 percent after profits and revenues exceeded expectations in the first quarter

Investors are awaiting consumer sentiment data in the single European currency area (the euro) for April, which is scheduled to be released at 0900 GMT.