The pan-European STOXX 600 was down 0.4% at 0815 GMT, after clocking two consecutive weeks of gains on optimism that the United States and the euro zone would likely avoid a recession.
All the sector indices, barring telecommunications, were in the red. Basic resources and technology bore the brunt of selling pressure, dropping around 1% each.
Aurubis AG dropped 6.4% after posting a roughly 24% fall in quarterly earnings due to high energy prices and inflation.
Eurazeo slipped 0.8% after the French private equity and investment company named a new executive board and said current chief executive, Virginie Morgon, would leave her role.
Meanwhile, Rovio Entertainment jumped 13% after the producer of the 'Angry Birds' video game said it had begun preliminary non-binding talks with parties, including Playtika Holding Corp, regarding a potential tender offer.
Banco BPM, Italy's third-largest bank, gained nearly 1% on plans to generate greater value longer-term from its retailers' payment business as it explores strategic options for the unit.
(Reporting by Ankika Biswasin Bengaluru; Editing by Savio D'Souza)
