Investing.com - European stocks edged lower on Monday, amid growing expectations for a U.S. rate hike before the end of the year and as investors eyed the release of euro zone inflation data later in the trading session.
During European morning trade, the EURO STOXX 50 edged down 0.09%, France’s CAC 40 dipped 0.02%, while Germany’s DAX 30 eased 0.08%.
Friday’s upbeat U.S. retail sales and producer price data added to expectations for an upcoming U.S. rate hike after the minutes of the Federal Reserve’s September policy meeting showed last week that several voting members believed a rate hike would be warranted "relatively soon" if the U.S. economy continued to strengthen.
Financial stocks were mixed, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) inched up 0.02% and 0.03%, while Germany’s Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) lost 0.11% and 1.31%.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) gained 0.61% and 1.80% respectively, while Spanish bank Banco Santander (MC:SAN) slid 0.32%.
Meanwhile, a decline in oil prices weighed on energy-related stocks. French oil and gas major Total SA (PA:TOTF) tumbled 1.25% and Italy’s ENI (MI:ENI) dropped 0.52%, while Norwegian rival Statoil (OL:STL) declined 0.51%.
In London, FTSE 100 slid 0.50%, weighed by Pearson (LON:PSON) Plc, whose shares dove 4.87% after the education company reported a 3% drop in sales for the first nine months of the year.
Royal Mail (LON:RMG) added to losses, with shares tumbling 1.57% after a majority of the company’s staff rejected an opportunity to sell their shares.
Sky News reported over the weekend that just “a few thousand” staff will sell their shares, out of a total of about 139,000 workers who are eligible to do so.
Meanwhile, financial stocks were mixed. The Royal Bank of Scotland (LON:RBS) slipped 0.23% and HSBC Holdings (LON:HSBA) dropped 0.60%, while Lloyds Banking (LON:LLOY) and Barclays (LON:BARC) gained 0.36% and 0.42% respectively.
In the mining sector, stocks were broadly higher. Shares in Rio Tinto (LON:RIO) advanced 0.78% and Anglo American (LON:AAL) jumped 1.09%, while Glencore (LON:GLEN) rallied 1.22%.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.17% fall, S&P 500 futures showed a 0.18% loss, while the Nasdaq 100 futures indicated a 0.24% decline.