European shares edge down as euro continues to weigh, earnings in focus
LONDON, July 21 (Reuters) - European shares edged down on Friday as a fresh flow of corporate earnings failed to change the mood of the previous session, dragged down by the European Central Bank's policy meeting, which pushed the euro close to a two-year high.
The pan-European STOXX 600 stood 0.1 percent lower, extending losses from the previous session as the euro weighed on exporters.
All major European bourses declined slightly but a number of blue chips swung into the black thanks to positive updates.
Vodafone, the world's second largest mobile operator, reported better-than-expected revenue growth in its first quarter, and was up 2.3 percent.
But Philips Lighting, the world's largest maker of lights, fell 7.6 percent after publishing its second-quarter results.
French car parts maker Valeo (LSE: 0RH5.L - news) was down 3.9 percent following its first-half report.
Deal-making also triggered some large gains, with payments firm Paysafe surging 8.6 percent after receiving a bid from Blackstone (NYSE: BX - news) and CVC Capital Partners.
The travel and leisure sector was up 0.2 percent after heavy losses in the previous sessions, due notably to falls in Germany's Lufthansa (Xetra: LHAB.DE - news) and the British budget airline easyJet. (Writing by Julien Ponthus; Editing by Kevin Liffey)