Investing.com - European stocks opened lower on Thursday, as declining oil prices continued to weigh on market sentiment.
During European morning trade, the EURO STOXX 50 declined 0.43%, France’s CAC 40 slid 0.44%, while Germany’s DAX 30 fell 0.27%.
Concerns over a global supply glut continued to push oil prices lower, wieghing on energy stocks.
Shares in French oil and gas major Total SA (PA:TOTF) plummeted 1.35% and Italy’s ENI (MI:ENI) lost 1.24%, while Norwegian rival Statoil (OL:STL) tumbled 1.28%.
Financial stocks were also broadly lower, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) retreated 0.90% and 0.91%, while Germany's Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) dropped 0.57% and 0.65%.
Among peripheral lenders, Italy's Unicredit (MI:CRDI) tumbled 1.42%, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) declined 0.94% and 0.41%.
On the upside, Thyssenkrupp (DE:TKAG) saw shares rally 1.69% as the German steelmaker was set to unveil later in the day a first prototype of its Multi elevator that uses magnets instead of cables to move multiple cars up, down and sideways.
This innovation reduces the space needed for shafts and greatly expands people-carrying capacity.
In London, commodity-heavy FTSE 100 declined 0.42%, weighed by sharp losses in the mining sector.
Shares in Anglo American (LON:AAL) lost 1.50% and Glencore (LON:GLEN) tumbled 1.65%, while rival company Antofagasta (LON:ANTO) dove 1.96%.
Financial stocks added to losses, as HSBC Holdings (LON:HSBA) fell 0.26% and the Royal Bank of Scotland (LON:RBS) slipped 0.28%, while Barclays (LON:BARC) and Lloyds Banking (LON:LLOY) slumped 0.62% and 0.67% respectively.
Meanwhile, Shire PLC (LON:SHP) was one of the top performers on the index, with shares up 1.68% after the company won U.S. approval for Mydayis, a long-acting attention deficit drug aimed at adolescents and adults.
In the U.S., equity markets pointed to a steady to lower open. The Dow Jones Industrial Average futures pointed to a 0.09% slip, S&P 500 futures signaled a 0.14% fall, while the Nasdaq 100 futures indicated a 0.02% dip.