European shares' momentum wanes as investors weigh earnings, geopolitics

European shares deepened their pullback on Thursday as investors recalibrated bets following a strong start to the year, ⁠with geopolitical risks and major earnings updates in focus. The STOXX 600 index fell 0.2% to 604.09 by 0813 GMT, poised for its second consecutive day in the ​red if current levels hold.

European shares deepened their pullback on Thursday as investors recalibrated bets following a strong start to the year, ⁠with geopolitical risks and major earnings updates in focus.

The STOXX 600 index fell 0.2% to 604.09 by 0813 GMT, poised for its second consecutive day in the ​red if current levels hold. The index had breached the 600-point mark for ‍the first time earlier this week. While market moves this week have suggested that investors are not overly concerned with the Venezuela fallout, a steady flow of headlines has added some unease, leaving ⁠traders split between ‌buying and reducing ⁠risk.

On Wednesday, top U.S. officials said the country needs to control Venezuela's oil sales and revenue ‍indefinitely to stabilize its economy, rebuild its oil sector and ensure it acts in America's ​interests. Additionally, the U.S. seized two Venezuela-linked oil tankers in the Atlantic Ocean.

Amid the ⁠rise in geopolitical tensions, the STOXX aerospace and defense index rose for the fifth straight session to ⁠scale an all-time peak. It was last up 1.8%. Meanwhile, shares of AB Foods fell 10.4%, hitting their lowest since April last year, after it warned ⁠of lower annual profit due to weak demand at its Primark chain in Europe and ⁠subdued U.S. sales ‌at its food business.

Britain's competition regulator will also fast-track its probe of the company's deal to buy bread brand ⁠Hovis, it said on Thursday.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)