2017.07.1821:10:00UTC+00European Stocks Drop as Euro Firms, Miners Fall

European stocks fell the most in July, while investors placed wagers that a stronger currency will weigh on exporters' earnings, as miners broke a six-day winning streak.

The pan-European Stoxx Europe 600 Index closed 1.1 percent lower, pulled down by cyclical industries which includes basic resources and technology shares.The Stoxx Europe 600 broke its 100-day moving average from above, which to some technical analysts indicates further losses could come.

The euro firmed for a third day as an obstacle on U.S. President Donald Trump's economic agenda weighed on the dollar.

Miners tumbled the most in four weeks after touching a four-month peak on Monday.

Bluechips Ericsson and Lufthansa both reported weak results. Ericsson plunged 11 percent after trimming its forecast for the mobile infrastructure market and posting a larger than expected loss. Rival Nokia Oyj shed 2.9 percent as investors read across to the Finnish mobile equipment maker.

German airline Lufthansa dropped two percent from 10-year peaks, the worst DAX performer, despite raising its profit forecast. Traders expected the stock to climb one to two percent.

Banks fell 0.5 percent, following comments from Federal Reserve and European Central Bank policymakers that indicated a slower pace of tightening on both sides than several investors anticipated.