April 30 (Bloomberg) -- European stocks declined, paced by Deutsche Bank AG after the German lender said operating costs were higher than analysts expected in the first quarter. Shares of BASF AG and Carrefour SA also declined.

The Dow Jones Stoxx 50 Index shed 0.3 percent to 2725.22 as of 8:54 a.m. in London, heading for drop of 1.8 percent this week. The Stoxx 600 slipped 0.3 percent. The Euro Stoxx 50, a measure for the 12 countries sharing the euro, slid 0.2 percent.

Deutsche Bank, Europe's third-biggest bank by assets, fell 1.9 percent to 68.97 euros after saying operating costs rose 2 percent to 4.5 billion euros ($5.4 billion) in the first quarter. The costs exceeded the 4.1 billion-euro forecast of 19 analysts surveyed by Bloomberg News. The bank reported first-quarter net income of 941 million euros, compared with a 219 million-euro loss in the year-earlier period.

BASF, the world's biggest chemical maker, and Carrefour, Europe's largest retailer, led declines on the Stoxx 50 as the shares traded for the first day without the right to the most recent dividends.

BASF fell 1.57 euros, or 3.6 percent, to 42.28 euros. Investors who buy the shares today won't receive a dividend of 1.40 euros a share. Carrefour slipped 1.06 euros, or 2.7 percent, to 38.8 euros as it traded without the right to the company's 74 cent-a-share dividend.

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The Stoxx 50 has gained 0.2 percent this month. The Stoxx 600 slipped 2.2 percent since last Friday and is headed for a 1.8 percent advance in April. The Euro Stoxx 50 fell 3.2 percent this week so far and added 0.5 percent for the month.

Credit Suisse, Switzerland's second-largest lender, rose 1.8 percent to 45.3 Swiss francs after saying first-quarter net income climbed to about 1.8 billion Swiss francs ($1.4 billion) from 279 million francs a year earlier, exceeding the 1.28 billion-franc median estimate of four analysts surveyed by Bloomberg News.

Alcatel SA climbed 2.5 percent to 13.32 euros. The world's biggest maker of broadband Internet equipment had its first quarterly profit in three years and said sales this quarter and in 2004 will rise almost 10 percent as demand improves. First- quarter net income was 134 million euros, compared with a loss of 461 million euros a year earlier. Profit beat the 33 million-euro median forecast of 10 analysts surveyed by Bloomberg News.

Metro AG, Europe's third-largest retailer, gained 1.4 percent to 37.35 euros. The company had an unexpected profit of 11.9 million euros in the first quarter as it reduced costs and benefited from growth at its Cash & Carry wholesale business and consumer-electronics unit. The median forecast of five analysts surveyed by Bloomberg News predicted a 33.9 million-euro loss.

Euro Disney SCA, Europe's largest theme park company, slumped 6.8 percent to 41 cents. The company's fiscal first-half loss widened to 109 million euros from 82.7 million euros a year ago as the cost of royalties to parent Walt Disney Co. rose and it changed its accounting methods.

June futures for the Euro Stoxx 50 added 0.2 percent to 2769.

To contact the reporter on this story: Miriam Steffens in Frankfurt at msteffens1@bloomberg.net.

Last Updated: April 30, 2004 03:57 EDT