European shares muted amid corporate earnings, PMIs in view

(Reuters) - European shares were subdued on Friday, but on track for a fifth week of gains, as investors eyed more economic data from the euro zone, along with more corporate earnings.

The pan-European STOXX 600 index edged 0.1% higher, hovering around its 14-month highs, with automobile shares rising 1.0% and recovering some losses from the previous session.

Miners were the biggest losers on the index, dropping 1.8%.

Britain's blue-chip index was flat after British retail sales fell by a greater-than-expected 0.9% in March from February.

Luxury eyewear maker EssilorLuxottica SA jumped 5.2% after it reported a rise in first-quarter revenues on a rebound in China-led growth.

Mercedes-Benz Group AG climbed 2.1% as it posted first-quarter group adjusted return on sales of 14.8%, above market expectations, boosted by higher prices and strong demand.

Meanwhile, business software maker SAP SE lost 1.6% in early trade after it slightly lowered its outlook due to the divestment of its Qualtrics unit while reporting first-quarter revenue growth that beat expectations.

In economic data, S&P Global's Purchasing Managers' Index for manufacturing and services for April will be on investors' radar to assess the economic strength of the euro zone, along with speeches by ECB policymakers.

(Reporting by Shubham Batra in Bengaluru; Editing by Varun H K)