European stocks slightly lower as investors react to economic data

European stocks traded slightly lower Thursday afternoon as investors reacted to news of a potentially effective coronavirus treatment while monitoring corporate earnings and economic data.

The pan-European Stoxx 600 quickly gave up early gains to slide 0.3 percent noon. Banks fell 2.1percent to lead losses while tech stocks climbed 0.7 percent.

Despite the slight fall Thursday, the European benchmark is still on course to close out its best month since July 2009, rebounding from March’s historic sell-off as the coronavirus pandemic began to spread throughout the world