Europe close: Stocks mixed, Dax notches up all-time high

“Worries about a stagnation in Germany took some of the shine off European markets, but with the Dax having clocked up a new intraday high yesterday it looks like indices this side of the Atlantic have bestirred themselves again," said IG chief market analyst Chris Beauchamp.

"After a busy week markets might be hoping for a breathing space, but they will be disappointed – more central banks, plus US job numbers and another wave of earnings will mean that any further gains in stocks are likely to come with a hefty dose of volatility too."

The pan-European Stoxx 600 index was down 0.2%at 470.78 with the main regional indices slightly mixed alongside.

Spain’s Ibex 35 drifted lower by 0.1% to 9,685.10, while the German Dax put on 0.39% to 16,469.75 - for a fresh all-time high in the case of the latter.

The European Commission's economic sentiment index for the euro area slipped from a reading of 95.3 for June to 94.5 in July (consensus: 95.0).

Commenting on the survey, Claus Vistesen at Pantheon Macroeconomics noted the continued falls in the new orders-to-inventory ratios for manufacturing and services, as well as the slide in employment expectations in both sectors.

Meanwhile, the French economy expanded by 0.5% in the second quarter, an improvement from the revised 0.1% growth in the previous quarter, and also better than expected.

Consumer prices in France and Germany slowed in July by more than expected, but the opposite was true in Spain.

In equity news, shares in Asia-focused bank Standard Chartered rose after half-year profits smashed estimates and it unveiled a $1bn share buyback.

British Airways owner IAG also took off as the airline group posted record operating profit.

Ams-Osram surged more than 10% after announcing that it was exiting its non-core semi-conductor business.

Atos slumped by more than a fifth after reporting a wider half-year operating loss due to restructuring costs related to its planned split.

The tech group is in the process of splitting into two separately listed companies, consisting of its cybersecurity and digital transformation unit Eviden and loss-making legacy services branch Tech Foundations.