The day's heavyweight on the corporate earnings front is Microsoft MSFT, which will report its earnings after market close. Europe's broad Stoxx 600 index .STOXX lost 0.4%, after the activity data, which analysts said suggests the ECB can continue to raise rates to curtail inflation, without fearing too much about damaging growth. The MSCI world index is up about 7% since the start of this year, thanks to hopes central banks globally are nearing the end of their interest rate tightening programme, as well as optimism induced by economic data.