Investing.com - European stocks were lower on Friday, ahead of the release of key German economic data later in the trading session and after the release of weak earnings reports.
During European morning trade, the EURO STOXX 50 declined 0.41%, France’s CAC 40 retreated 0.63%, while Germany’s DAX 30 slid 0.23%.
Markets were jittery after data on euro zone manufacturing and services activity released on Thursday indicated that the recovery in the region remains sluggish.
The preliminary reading of the euro zone’s manufacturing purchasing managers’ index ticked up to 51.3 in October from a final reading of 51.1 in September, slightly below expectations for a reading of 51.4.
The euro zone services PMI fell to 50.9 this month from 52.2 in September.
In earnings news, Kering said its Gucci brand posted the worst sales growth in four years as demand weakened in China, sending shares down 2.40%.
Renault plunged 3.28% after the French carmaker said weaker currencies in emerging markets cut third-quarter revenue.
In the same sector, Volvo dove 5.19% as the Swedish truckmaker said the strength of the krona and new-vehicle investments weighed on profit.
Meanwhile, financial stocks were broadly lower, as French lenders BNP Paribas and Societe Generale tumbled 1.37% and 0.92%, while Germany's Deutsche Bank fell 0.29%.
Among peripheral lenders, Spanish banks Banco Santander and BBVA plummeted 1.48% and 1.51% respectively, while Italy's Intesa Sanpaolo and Unicredit lost 0.74% and 0.97%.
In London, FTSE 100 edged down 0.07%, weighed by losses in the airline sector.
Shares in Easyjet tumbled 1.26%, even as the company announced earlier in the week that it is adding 10 new routes from next summer for holidaymakers travelling from England, Northern Ireland and Scotland. Rival British Sky was down 1.21%.
Mining stocks added to losses, as Glencore Xstrata slid 0.30% and Rio Tinto retreated 0.74%, while BHP Billiton declined 0.62% and Evraz plummeted 1.71%.
On the upside, G4S rallied 2.57% after the security services firm said its U.K. chief executive Richard Morris had resigned.
In the financial sector, stocks were also mostly higher with Barclays up 0.94% and Lloyds Banking gaining 1.19%, while the Royal Bank of Scotland jumped 2.76%. HSBC Holdings underperformed however, declining 0.75%.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.21% fall, S&P 500 futures signaled a 0.28% decline, while the Nasdaq 100 futures indicated a 0.01% dip.
Later in the day, the U.S. was to produce data on durable goods orders, as well as revised data on consumer sentiment from the University of Michigan.
During European morning trade, the EURO STOXX 50 declined 0.41%, France’s CAC 40 retreated 0.63%, while Germany’s DAX 30 slid 0.23%.
Markets were jittery after data on euro zone manufacturing and services activity released on Thursday indicated that the recovery in the region remains sluggish.
The preliminary reading of the euro zone’s manufacturing purchasing managers’ index ticked up to 51.3 in October from a final reading of 51.1 in September, slightly below expectations for a reading of 51.4.
The euro zone services PMI fell to 50.9 this month from 52.2 in September.
In earnings news, Kering said its Gucci brand posted the worst sales growth in four years as demand weakened in China, sending shares down 2.40%.
Renault plunged 3.28% after the French carmaker said weaker currencies in emerging markets cut third-quarter revenue.
In the same sector, Volvo dove 5.19% as the Swedish truckmaker said the strength of the krona and new-vehicle investments weighed on profit.
Meanwhile, financial stocks were broadly lower, as French lenders BNP Paribas and Societe Generale tumbled 1.37% and 0.92%, while Germany's Deutsche Bank fell 0.29%.
Among peripheral lenders, Spanish banks Banco Santander and BBVA plummeted 1.48% and 1.51% respectively, while Italy's Intesa Sanpaolo and Unicredit lost 0.74% and 0.97%.
In London, FTSE 100 edged down 0.07%, weighed by losses in the airline sector.
Shares in Easyjet tumbled 1.26%, even as the company announced earlier in the week that it is adding 10 new routes from next summer for holidaymakers travelling from England, Northern Ireland and Scotland. Rival British Sky was down 1.21%.
Mining stocks added to losses, as Glencore Xstrata slid 0.30% and Rio Tinto retreated 0.74%, while BHP Billiton declined 0.62% and Evraz plummeted 1.71%.
On the upside, G4S rallied 2.57% after the security services firm said its U.K. chief executive Richard Morris had resigned.
In the financial sector, stocks were also mostly higher with Barclays up 0.94% and Lloyds Banking gaining 1.19%, while the Royal Bank of Scotland jumped 2.76%. HSBC Holdings underperformed however, declining 0.75%.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.21% fall, S&P 500 futures signaled a 0.28% decline, while the Nasdaq 100 futures indicated a 0.01% dip.
Later in the day, the U.S. was to produce data on durable goods orders, as well as revised data on consumer sentiment from the University of Michigan.