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European shares slide from peak as Asian worries sour mood
Published at 30/07/2021 at 08:23

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

July 30 (Reuters) - European stocks fell from record highs on Friday as concerns about the fast-spreading Delta variant and regulatory actions in China outweighed optimism around quarterly earnings season and an economic recovery.

The pan-European STOXX 600 index fell 0.8% by 0714 GMT, with Asian shares set for their biggest monthly drop since the height of global pandemic lockdowns last March.

China-exposed miners were the top decliners, down 2.6% in early trading.

Still, the benchmark was on course to end July with its sixth consecutive month of gains after a batch of steady results.

Italy's UniCredit jumped 5.7% after it posted higher-than-expected net profit, and said late on Thursday it had embarked on formal talks with the government over the possible acquisition of rival Monte dei Paschi di Siena

. Monte dei Paschi surged 9.6%.

French carmaker Renault jumped 3.3% after it forecast a full-year 2021 profit even as a global shortage in chips and rising raw material costs crimped car production.

British Airways-owner IAG fell 3.4% after it said summer capacity would rise to 45% of pre-pandemic levels but warned that significant uncertainty remained.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila)

((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787;))