By Carla Mozee, MarketWatch
LONDON (MarketWatch) -- European stocks swung lower Friday,
pulling back from a seven-year high, but stayed on course to log a
monthly advance.
The Stoxx Europe 600 fell 0.1% to 390.37 as technology,
chemicals and biotech shares waded in the red.
The benchmark on Thursday climbed 1% to mark its best finish
since June 2007, according to FactSet data. For February, the
pan-European index is poised to rise 6.3%, which would follow a
7.2% jump in January.
The February rise has been aided by strength in German equities,
with the DAX 30 marking its 18th record closing high of 2015 during
the month. As well, the U.K.'s FTSE 100 earlier this week logged
its best closing level since December 1999.
Barclays on Thursday noted that nearly 70% of companies on the
Stoxx 600 have reported financial results for the fourth quarter.
"Reported earnings have been largely in-line with expectations,
with both the number of beats and misses running at the lowest
level for more than four years," wrote analyst Alex Stewart. He
added that consensus-earnings revisions for 2015 are still on a
downward trajectory.
On Friday, the DAX 30 was off 0.1% at 11,317.10. Investors will
watch for the first reading of German inflation data for February,
due at 1:00 p.m. London time, or 8 a.m. Eastern Time. Analysts
polled expect consumer prices in Europe's largest economy to be
0.5% lower than a year ago.
France's CAC 40 was off 0.1% at 4905.24, and the FTSE 100 was
down 0.1% at 6,945.34.
(http://www.marketwatch.com/story/iag-climbs-in-london-ftse-100-heads-toward-monthly-gain-2015-02-27)
Greece's Athex Composite fell 3.4% to 873.52 just ahead of news
that lawmakers in Germany have voted to approve a four-month
extension of Greece's bailout. The Athens benchmark is on track for
a February gain of 21%, which would be its biggest monthly gain
since April 2009, when it rose 21.9%.
Among Stoxx 600 movers, International Consolidated Airlines
Group SA rose 3.5%. The British Airways operator on Friday
increased its 2015 operating profit target by 22%
(http://www.marketwatch.com/story/iag-climbs-in-london-ftse-100-heads-toward-monthly-gain-2015-02-27),
as lower fuel costs helped the carrier post a jump in net
profit.
Airbus Group NV shares popped up 6.3% after the plane maker said
it would pay a record dividend of 1.20 euros a share, and said
profit last year rose 59%
(http://www.marketwatch.com/story/airbus-pays-record-dividend-as-profit-jumps-2015-02-27-14853655).
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