(Reuters) - European shares headed lower on Wednesday after a five-day rally, with investors turning to the first-quarter earnings season to gauge the extent of the business damage from the coronavirus pandemic.
The pan-European STOXX 600 index (STOXX) was down 0.2% at 0713 GMT, after surging almost 8% since April 6 on early signs the health crisis was ebbing and on hopes that sweeping lockdown measures would soon be lifted.
The benchmark index has recovered about 24% since hitting an eight-year low in March, but is still down about 22% from its record high and analysts warn an uptick in coronavirus cases could spark another sell-off.
French shares (FCHI) fell 0.3% as France became the fourth country to report more than 15,000 deaths due to the coronavirus after Italy, Spain and the United States.
Dutch navigation and digital mapping company TomTom (AS:TOM2) shed 2.7% after saying it expected negative free cash flow this year and lower revenue from its automotive and consumer businesses due to the pandemic.
