LONDON, April 29 — European stocks slid as investors assessed the biggest monthly advance since November and losses in US equities weighed on sentiment.

British Airways parent IAG SA lost 3.5 per cent, dragging travel and leisure shares to the worst performance among industry groups, after saying last month’s Brussels attacks will affect second-quarter revenue. Sanofi fell 2.7 per cent after its sales missed projections. Royal Bank of Scotland Group Plc paced a drop in lenders, falling 2 per cent after its net loss widened.

The Stoxx Europe 600 Index declined 1.1 per cent at 9:24am in London, as all 19 industry groups fell. The euro strengthened against the dollar as weak US growth dimmed prospects for a rate hike there, while the Standard & Poor’s 500 Index yesterday fell the most in three weeks as Apple Inc led a late selloff in technology shares.

“European markets are reacting to negative swings in the US, and with the euro stronger against the dollar, this doesn’t bode well for earnings expectations in Europe,” said Otto Waser, chief investment officer at R&A Research & Asset Management. “With risks bigger than opportunities, this could be the beginning of a profit-taking phase.”

European stocks have climbed in April, reaching the highest level since January last week, led by a rally in miners and energy producers. The Stoxx 600 is heading for a monthly advance of 2.3 per cent. Still, today’s decline is poised to drag the gauge to its first weekly loss in three, down 0.9 per cent.

The earnings season is well under way, and analysts have slashed estimates for the year. They project profit at Stoxx 600 companies will slide 2.2 per cent in 2016, before growing at a double-digit pace in the next three years. A slew of data today on unemployment, inflation and growth may provide clues on the health of the euro-area economy.

Among other shares active on corporate news, Restaurant Group Plc plunged 24 per cent after the UK owner of Frankie & Benny’s eateries forecast a further deterioration in sales and said it has started a strategic review. Linde AG rose 2 per cent after its revenue and operating profit in the first three months of the year beat estimates. — Bloomberg