European stocks decline amid the return of concerns about the banking sector

European stocks fell on Thursday despite positive earnings from a group of companies, as turmoil over First Republic Bank continues to worry investors about the global banking sector.

The pan-European Stoxx 600 index was down 0.1% by 0720 GMT, as media stocks fell 1.6%. Shares in Universal Music Group fell 4 percent after its core earnings fell in the first quarter.

Healthcare stocks were the best performer on the index, up 0.9 percent.

Concerns about the banking sector spooked investors after First Republic shares plunged nearly 30 percent on Wednesday, hitting a record low for the second day in a row.

Despite this, banking stocks rose 0.4 percent, led by Barclays, whose share jumped 2.4 percent on quarterly profits that exceeded estimates, after the strong performance of retail services relieved some of the pressure on other major activities.

Unilever shares rose 1.5 percent, supported by better-than-expected quarterly core sales, after Dove soap maker raised prices again to cover higher commodity and supply chain costs.

AstraZeneca shares rose 1.7% after better-than-expected first-quarter earnings and revenue.

Investors are awaiting data on consumer sentiment in the European single currency area (the euro) for the month of April, due at 0900 GMT.