European markets traded barely decrease Thursday morning as traders reacted to information of a doubtlessly efficient coronavirus therapy whereas monitoring company earnings and financial information.The pan-European Stoxx 600 rapidly gave up early beneficial properties to slip 0.2% by mid-morning. Banks fell 1.4% to steer losses whereas family items climbed 0.7%.Euro zone GDP contracted by a document 3.8% within the first quarter, in comparison with the final three months of 2019, official figures confirmed on Thursday, as lockdowns ensuing from the coronavirus pandemic ravage the 19-member bloc’s financial system.France entered a technical recession with a contraction of 5.8% within the first three months of the 12 months, the sharpest decline for Europe’s second-largest financial system since information started in 1949.Markets are additionally awaiting the most recent financial coverage choice from the European Central Financial institution, due at 12:45 p.m. London time.Buyers in Europe are additionally reacting to information from the U.S. relating to the usage of Gilead Sciences’ antiviral drug remdesivir as a possible new therapy for Covid-19 sufferers. Gilead Sciences stated Wednesday preliminary outcomes of a coronavirus drug trial confirmed at the least 50% of sufferers handled with a five-day dosage of remdesivir improved and greater than half had been discharged from the hospital inside two weeks.Later Wednesday, White Home well being advisor Dr. Anthony Fauci stated NIAID’s remdesivir drug trial, which enrolled about 800 sufferers, confirmed “fairly excellent news” and that the drug would set a brand new customary of look after Covid-19 sufferers.Earnings in focusCorporate earnings stay a key driver of particular person share price motion.Royal Dutch Shell on Thursday morning lower its dividend to shareholders for the primary time since World Battle II, following a plunge in oil costs because the coronavirus pandemic ravages demand. The oil big reported first-quarter web revenue attributable to shareholders of $2.9 billion, a 46% decline from the identical interval final 12 months. Shares pared earlier losses to commerce 5% decrease by mid-morning.Carlsberg reported a 7% decline in first-quarter gross sales and warned that the worst is but to come back, as elevated grocery store gross sales did not offset the closure of bars and eating places for the world’s third-largest brewer. Carlsberg shares added 0.4%.Nokia swung to revenue within the first quarter on the again of constant momentum in 5G offers. The Finnish telecoms supplier noticed its stock climb 3.1%.On the prime of the European blue chip index, BE Semiconductor shares jumped greater than 7%. – CNBC’s Silvia Amaro contributed reporting.