(Reuters) – European stocks opened lower on Thursday, reflecting the pessimistic mood on Asian markets. Technology stocks weighed on the benchmark index, but a series of positive corporate news items limited losses.

The pan-European STOXX 600 was down 0.7% by 07:10 GMT.

Of all sectors, basic commodities fell the most, by 1.5%, as copper prices remained low due to higher inventories and a pessimistic global growth outlook. (MET/L)

The technology sector lost 1.3% after Asian tech stocks fell. (MKTS/GLOB)

Allianz rose 1% after the company reported a better-than-expected 7.5% rise in second-quarter net profit and said it was on track to meet its full-year target.

Deutsche Telekom shares rose 1.3 percent after the telecommunications company reported a 7.8 percent increase in its core profit in the second quarter, in line with analysts’ consensus.

Zurich Insurance lost 3.3%, although the German insurer beat profit forecasts.

Beazley rose 10.2% after the British insurer raised its 2024 combined ratio forecast after its pretax profit almost doubled to $728.9 million in the first half.

Entain rose 9.4 percent after the British gaming group raised its forecast for annual net gaming revenue and profit on Thursday following a better-than-expected second-quarter performance.

(Reporting by Pranav Kashyap in Bengaluru; Editing by Sonia Cheema)