Investing.com - European stocks dropped on Friday, as investors remained cautious amid growing uncertainty over the outcome of the upcoming U.S. presidential election.
During European morning trade, the EURO STOXX 50 slid 0.69%, France’s CAC 40 retreated 0.64%, while Germany’s DAX 30 dropped 0.76%.
Investors remained cautious after the FBI said last Friday that it would review more emails related to Hillary Clinton's private email use while she was secretary of state.
The news sparked fresh uncertainty over Mrs. Clinton’s election prospects ahead of the November 8 vote, amid fears over the implications of a victory for Republican candidate Donald Trump.
Financial stocks were broadly higher, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) lost 1.24% and 0.97%, while Germany’s Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) tumbled 1.47% and 2.53%.
Earlier Friday, Commerzbank reported a third-quarter net loss of €288 million, beating analysts’ estimates, but still lower than the €235 million profit reported in the same period last year.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) declined 0.10% and 1.14% respectively, while Spanish banks Banco Santander (MC:SAN) and BBVA (MC:BBVA) retreated 1.26% and 0.82%.
Bay.Motoren Werke AG ST (DE:BMWG) added to losses, with shares down 1.49% even after the German carmaker said group earnings before interest and taxes increased by more than 13% in the third quarter.
On the upside, LafargeHolcim Ltd (SIX:LHN) surged 3.45% after the Swiss cement maker reported lower than expected revenues but a rise in core earnings.
In London, commodity-heavy FTSE 100 tumbled 1.11%, weighed by losses in the mining sector.
Shares in Glencore (LON:GLEN) slid 0.31% and Rio Tinto (LON:RIO) tumbled 1.26%, while BHP Billiton (LON:BLT) lost 1.37% and Randgold Resources (LON:RRS) plummeted 2.39%.
Financial stocks were also mostly on the downside, as HSBC Holdings (LON:HSBA) declined 0.79% and Barclays (LON:BARC) retreated 1.65%, while the Royal Bank of Scotland (LON:RBS) plunged 1.93%. Lloyds Banking (LON:LLOY) overperformed however, with shares gaining 0.23%.
Paddy Power Betfair PLC (LON:PPB) was one of the top performers on the index, with shares surging 3.61% as it raised its 2016 earnings guidance after saying big sporting events will most likely help lift third-quarter revenue.
In the U.S., equity markets pointed to a steady to lower open. The Dow Jones Industrial Average futures pointed to a 0.09% loss, S&P 500 futures showed a 0.04% dip, while the Nasdaq 100 futures indicated a 0.03% downtick.