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April 23 (Reuters) - European stocks were on track for their
first weekly loss in eight on Friday as a surge in global
coronavirus cases offset strong earnings reports, while
Madrid-based Allfunds jumped in its Amsterdam market debut.
The pan-European STOXX 600 slipped 0.3% by 0710
GMT, on course for a near 1% weekly drop.
Global market sentiment also took a knocking following
reports U.S. President Joe Biden planned to raise income taxes
on the wealthy, a proposal some said would be hard to pass in
Spanish fund distribution firm Allfunds jumped
over 13% in its debut on Euronext Amsterdam. The company said
earlier it had priced the initial public offering at 11.50 euros
per share, giving it a valuation of about 7.2 billion euros.
Mercedes-Benz car maker Daimler AG rose 1.5%
after raising its profit outlook for 2021, while luxury puffer
jacket maker Moncler fell 6.2% despite posting a
strong increase in first-quarter sales.
Investors are awaiting the flash readings of IHS Markit's
April Purchasing Managers' Index (PMI) for the euro zone and the
UK, which could offer clues on the pace of European economic
(Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak