* Allfunds jumps 20% on market debut
* PMIs fail to spur big moves in indexes
* Moncler falls as Q1 sales lag peers
(Updates to close)
By Sruthi Shankar
April 23 (Reuters) - European stocks marked their first
weekly loss in eight on Friday as a surge in global coronavirus
cases offset optimism about a strong earnings season, while
Madrid-based Allfunds jumped on its Amsterdam market debut.
The pan-European STOXX 600 .STOXX slipped 0.2% and was on
course for a 0.8% weekly drop. Defensive plays such as the
healthcare sector and consumer stocks were among the biggest
decliners, while surging commodity prices lifted miners .SXPP .
Sentiment was hit following reports on Thursday that U.S.
President Joe Biden planned to raise income taxes on the
wealthy, a proposal some said would be hard to pass in Congress.
Meanwhile, India reported the world's highest daily tally of
coronavirus cases for a second day and Japan was set to declare
"short and powerful" states of emergency for Tokyo, Osaka and
two other prefectures as the country struggles to contain a
resurgent pandemic. "We've fears of a third wave of infection in many parts of
the world. That is going to keep acting as a drag on how far
indexes will grow," said Susannah Streeter, senior investment
and markets analyst at Hargreaves Lansdown.
Meanwhile, Spanish fund distribution firm Allfunds
ALLFG.AS jumped more than 20.4% on its first day of trading,
boosting an IPO market dented by last month's underwhelming
Deliveroo listing. Luxury puffer jacket maker Moncler MONC.MI fell 4% after
reporting first-quarter sales that were a touch lower than the
year-earlier quarter and lagging peers. About 10% of STOXX 600 companies have reported so far, and
67% of them have topped profit expectations, according to
Refinitiv data.
Major regional indexes barely moved after a survey showed
the euro zone's recovery from the pandemic-led economic downturn
was much stronger than expected in April. Italian luxury goods group Tod's TOD.MI jumped 11.4% after
France's LVMH LVMH.PA agreed to increase its stake in the
company to 10%. French media giant Vivendi VIV.PA rose 2.8% as strong
performance at its music unit Universal and a sales jump at its
publishing division helped its quarterly revenue grow.
Strong results from Finnish firms Metso Outotec MOCORP.HE
and Wartsila WRT1V.HE , and Paris-listed Groupe SEB SEBF.PA
saw them top the STOXX 600.
Shares in hygiene products group Essity ESSITYb.ST slumped
after JP Morgan said its first quarter results were a miss
across the board.