Investing.com - European stocks opened mostly lower on Thursday, as oil prices continued to decline and as investors eyed the Bank of England’s upcoming policy decision due later in the day.
During European morning trade, the EURO STOXX 50 edged up 0.14%, France’s CAC 40 fell 0.18%, while Germany’s DAX 30 eased 0.02%.
Investors also continued to focus on the oil market, ahead of a highly anticipated meeting between major oil producers in Doha next Sunday.
Crude prices declined for a second consecutive day on Thursday, after OPEC warned of slowing demand and Russia signaled that there would only be little commitments at this weekend’s meeting.
Energy stocks were broadly lower, as French oil and gas major Total SA (PA:TOTF) dropped 0.94% and Italy’s ENI (MI:ENI) SpA tumbled 0.96%, while Norwegian rival Statoil ASA (OL:STL) lost 1.36%.
Financial stocks were on the upside, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) climbed 0.81% and 0.98%, while Germany’s Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) advanced 0.88% and 0.96%.
Among peripheral lenders, Italy’s Unicredit (MI:CRDI) gained 0.61%, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) added 0.22% and 0.32% respectively.
In earnings news, Nestle SA (SIX:NESN) confirmed its full-year outlook and reported first-quarter underlying sales growth of 3.9%m sending shares in the Swiss food group up 1.19%.
Casino Guichard (PA:CASP) rose 0.26% after the retailer reported a 1.5% like-for-like sales increase in the first quarter.
In London, FTSE 100 slid 0.31%, weighed by Burberry Group (LON:BRBY), whose shares dove 5.80% after the luxury retailer warned of the "external environment that remains challenging" and said second-half revenues dropped by 1%.
Mining stocks were also broadly lower on the commodity-heavy index. Shares in Bhp Billiton (LON:BLT) and Rio Tinto (LON:RIO) tumbled 1.13% and 1.60% respectively, while Fresnillo (LON:FRES) lost 3.07% and Glencore (LON:GLEN) plunged 3.49%.
Persimmon (LON:PSN) added to losses, with shares plummeting 2.42% even as the housebuilder said it had "brought forward a healthy order book into 2016 and our strong sales performance over the period has resulted in total forward sales revenue, being 8 percent higher than last year".
In the financial sector, stocks were also mostly lower. HSBC Holdings (LON:HSBA) fell 0.20% and Lloyds Banking (LON:LLOY) slipped 0.26%, while Barclays (LON:BARC) tumbled 1.53%. The Royal Bank of Scotland (LON:RBS) overperformed, with shares rising 0.22%.
Later Thursday, the BoE’s was expected to leave interest rates on hold at 0.50% and the level of its monthly asset purchases at £375 billion.
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 a 0.30% slide, while the Nasdaq 100 futures indicated a 0.34% loss.