Investing.com - European stocks were lower on Monday, as markets were jittery ahead of a meeing of euro zone finance ministers to take place later in the day, while disappointing Chinese industrial production data sparked fresh concerns over the outlook for global economic growth.
During European morning trade, the EURO STOXX 50 shed 0.30%, France’s CAC 40 edged down 0.25%, while Germany’s DAX 30 fell 0.26%.
Official data earlier showed that industrial production in China rose 9.3% in April, below expectations for a 9.5% increase and following an 8.9% rise the previous month.
The weaker-than-expected data fuelled concerns that China’s economic recovery was stalling.
Financial stocks were broadly lower, as French lenders BNP Paribas and Societe Generale tumbled 1.07% and 1.30%, while Germany's Deutsche Bank and Commerzbank retreated 0.80% and 4.25%.
Commerzbank said earlier that it was preparing to sell new shares aS part of a EUR2.5 billion capital increase.
Peripheral lenders added to losses, with Spanish banks Banco Santander and BBVA plummeting 1.09% and 1.07% respectively, while Italy's Unicredit and Intesa Sanpaolo declined 0.01 and 0.93%.
Elsewhere, Adecco jumped 1.01% after the world’s largest supplier of temporary workers was raised to "overweight" from "neutral" at JPMorgan Chase & Co., which cited receding economic risks.
In London, FTSE 100 slipped 0.28%, as U.K. lenders tracked their European counterparts higher.
Shares in the Royal Bank of Scotland dropped 0.87% and Barclays tumbled 1.19%, while HSBC Holdings and Lloyds Banking plunged 1.35% and 1.57% respectively.
In addition, Standard Chartered dove 4.25% as Carson Block, the short seller who runs Muddy Waters LLC, said he’s betting against the bank’s debt.
Meanwhile, mining giants BHP Billiton and Rio Tinto were also on the downside, declining 0.90% and 1.12%, while Anglo American plummeted 1.60%.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.25% fall, S&P 500 futures signaled a 0.35% declin, while the Nasdaq 100 futures indicated a 0.30% loss.
Later in the day, the eurogroup of euro zone finance ministers were to hold talks in Brussels.
In addition, the U.S. was to release official data on retail sales.
During European morning trade, the EURO STOXX 50 shed 0.30%, France’s CAC 40 edged down 0.25%, while Germany’s DAX 30 fell 0.26%.
Official data earlier showed that industrial production in China rose 9.3% in April, below expectations for a 9.5% increase and following an 8.9% rise the previous month.
The weaker-than-expected data fuelled concerns that China’s economic recovery was stalling.
Financial stocks were broadly lower, as French lenders BNP Paribas and Societe Generale tumbled 1.07% and 1.30%, while Germany's Deutsche Bank and Commerzbank retreated 0.80% and 4.25%.
Commerzbank said earlier that it was preparing to sell new shares aS part of a EUR2.5 billion capital increase.
Peripheral lenders added to losses, with Spanish banks Banco Santander and BBVA plummeting 1.09% and 1.07% respectively, while Italy's Unicredit and Intesa Sanpaolo declined 0.01 and 0.93%.
Elsewhere, Adecco jumped 1.01% after the world’s largest supplier of temporary workers was raised to "overweight" from "neutral" at JPMorgan Chase & Co., which cited receding economic risks.
In London, FTSE 100 slipped 0.28%, as U.K. lenders tracked their European counterparts higher.
Shares in the Royal Bank of Scotland dropped 0.87% and Barclays tumbled 1.19%, while HSBC Holdings and Lloyds Banking plunged 1.35% and 1.57% respectively.
In addition, Standard Chartered dove 4.25% as Carson Block, the short seller who runs Muddy Waters LLC, said he’s betting against the bank’s debt.
Meanwhile, mining giants BHP Billiton and Rio Tinto were also on the downside, declining 0.90% and 1.12%, while Anglo American plummeted 1.60%.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.25% fall, S&P 500 futures signaled a 0.35% declin, while the Nasdaq 100 futures indicated a 0.30% loss.
Later in the day, the eurogroup of euro zone finance ministers were to hold talks in Brussels.
In addition, the U.S. was to release official data on retail sales.