Investing.com - European stocks were little changed on Friday, as concerns over a possible Greek default persisted and as markets eyed the release of upcoming German data as well as comments by European Central Bank President Mario Draghi.
During European morning trade, the EURO STOXX 50 dipped 0.05%, France’s CAC 40 eased 0.04%, while Germany’s DAX 30 eased up 0.01%.
European equities remained under pressure as late-night negotiations between Greek, French and German government leaders ended without any sign of a breakthrough that will unlock bailout funds.
Greece is due to make a €305 million payment to the International Monetary Fund on June 5, but will default if a deal is not reached by then.
Sentiment had strengthened briefly after data on Thursday showed that the preliminary reading of the French composite purchasing managers' index rose to 51.0 up from 50.6 in April.
But activity in Germany, the euro area’s largest economy slowed to a five month low, while the preliminary euro zone composite PMI slid to a three month low of 53.4.
Financial stocks were mixed, as Societe Generale (PARIS:SOGN) tumbled 1.08% and BNP Paribas (PARIS:BNPP) edged up 0.11% in France, while Germany's Commerzbank (XETRA:CBKG) and Deutsche Bank (XETRA:DBKGn) lost 0.26% and 1.85%.
Among peripheral lenders, Italy's Intesa Sanpaolo (MILAN:ISP) and Unicredit (MILAN:CRDI) added 0.12% and 0.24% respectively, while Spanish banks Banco Santander (MADRID:SAN) and BBVA (MADRID:BBVA) slipped 0.10% and 0.19%.
Elsewhere, shares in Compagnie Financiere Richemont SA (SIX:CFR) plummeted 3.34% after the group reported an unexpected fall in April sales.
In London, FTSE 100 gained 0.45%, led by Vodafone (NASDAQ:VOD), up 3.59% after Goldman Sachs Group (NYSE:GS) Plc said the phone company is more likely to sell than buy assets.
Mining stocks were also higher on the commodity-heavy index. Shares in Fresnillo (LONDON:FRES) rose 0.39% and Glencore Xstrata (LONDON:GLEN) climbed 0.58%, while rivals Rio Tinto (LONDON:RIO) and Bhp Billiton (LONDON:BLT) advanced 0.57% and 0.89% respectively.
In the financial sector, stocks were mostly mixed. Lloyds Banking (LONDON:LLOY) added 0.10% and HSBC Holdings (LONDON:HSBA) gained 0.80%, while Barclays (LONDON:BARC) inched down 0.04% and the Royal Bank of Scotland (LONDON:RBS) saw shares slip 0.17%.
In the U.S., equity markets pointed to a steady to higher open. The Dow Jones Industrial Average futures pointed to a 0.05% uptick, S&P 500 futures signaled a 0.10% rise, while the Nasdaq 100 futures indicated a 0.05% gain.
Later in the day, the Ifo Institute was to report on German business climate, while the U.S. was to release a report on consumer inflation.