European Stocks Stall as Airline Losses Offset Media, Tech Gains

European stocks erased gains as losses in airline shares offset gains in media and tech sectors, while investors parsed a flurry of company results.

The Stoxx 600 index was little changed by the close, after rising as much as 0.5% in earlier trading. Airline stocks fell after EasyJet Plc warned on profits, with the shares declining as much as 8.8% at one point, the most since June 2022, before paring losses to -5.0%. Peers Ryanair Holdings Plc and Deutsche Lufthansa AG were also lower, dragging the Stoxx 600 Travel & Leisure sector into the red. It was the worst performer in the Stoxx 600.