European shares fall after BOJ surprise, led by BBVA, Airbus
* FTSEurofirst 300 down 1.3 percent
* BBVA, Airbus lower after disappointing results
* But Deutsche Bank rises on surprise profit (ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets for site in development. See the bottom of the report for more details)
By Danilo Masoni and Alistair Smout
MILAN/LONDON, April 28 (Reuters) - European shares fell on Thursday after the Bank of Japan unexpectedly held off from expanding monetary stimulus, while Spanish bank BBVA and Airbus fell on disappointing earnings updates.
BBVA was the worst-performing stock in Europe, dropping 8.5 percent after it missed estimates with a 54-percent fall in first quarter net profit.
"European markets are lower today first of all (because) there are probably more earnings disappointments than beats and beats are based on dramatically lowered expectations," Will Hamlyn, investment analyst at Manulife Asset Management, said.
Hamlyn also said the sharp fall in the Nikkei that followed the BOJ decision was weighing on sentiment, and that there was some profit taking as markets traded well above February lows.
The pan-European FTSEurofirst 300 index, which hit a three-month high last week, was down 1.3 percent by 1131 GMT, while the euro zone's blue-chip Euro STOXX 50 index dropped 1.9 percent. Continuación...