European Markets Mixed Ahead of Earnings Reports

European markets opened on mixed note as investors await a string of earnings reports from the region despite a positive Asia performance.

The pan-European FTSEurofirst 300 slid 0.1% to 1,220.09. The UK's FTSE 100 fell 0.1%, while Germany's DAX remain little changed.

France's CAC 40 and Spain's IBEX were flat, while Italy's FTSE MIB gained 0.2%.

British bank, Standard Chartered said it expects operating profit to fall slightly in the first quarter as margins tightened amid higher operating expenses and loan impairments. Full -year results from Sainsbury's showed a 1.4% fall in pre-tax profits to £788m (($1.2bn; €931m) for the year to 16 March.

On the earnings front, semiconductor maker CSR, hotel group Intercontinental Hotels, Netherlands-based insurer Aegon, Dutch banking major ING, Denmark-based wind power systems maker Vestas are also expected to release their quarterly results.

Investors will also be tracking the Halifax House Price index in the UK, Ifo Economic Climate Indicator for the eurozone and monthly German industrial output. Other notable data from the region include Polish interest rate decision from the National Bank of Poland (NBP) and consumer price inflation in Switzerland.

Earlier, Asian markets closed on a positive note, which gained for a third day following strong trade data from China. The world's second-biggest economy reported a trade surplus of $18.6bn for April after a 14.7% increase in exports and a 16.8% rise in imports, from the year ago period, which topped economists' estimates.