Investing.com – European stocks were marginally lower on Friday as Catalan independence takes a negative toll on Spanish stocks.
The pan-European Euro Stoxx 50 was down 0.18% as of 5:24 AM ET (10:24 GMT).
In Spain, the IBEX 35 fell 0.76% as Catalan independence fears still lingered. Bank stocks fell, as financial institutions in the region contemplate moving their headquarters. Catalan-based bank B. Sabadell (MC:SABE) said Thursday it would move while Caixabank SA (MC:CABK) is set to make a decision on Friday. B. Sabadell fell 3.08% while Caixabank tumbled 2.19%.
Meanwhile the Spanish Constitutional Court has ordered the regional parliament of Catalonia to close on Monday, raising doubts as to whether the region will declare independence as it had planned.
Among the top gainers in Spain was travel IT firm Amadeus IT (MC:AMA), which rose 1.71% after it signed a contract with airline company Air Canada and expanded its North American operations. Melia Hotels (MC:MEL) which gained 1.66% after announcing it was adding a five-star hotel in Venice, Italy.
However most investors will be looking away from Spain to the U.S. this afternoon when it releases it nonfarm payrolls, which is a key measurement for the Federal Reserve.
In London, the FTSE 100 rose 0.12%. Private health care provider Mediclinic International PLC (LON:MDCM) increased 2.18% while car insurance company Admiral Group (LON:ADML) moved up 1.88%.
Airline company EasyJet PLC (LON:EZJ) fell 2.80% despite a record number of summer passengers. Irish construction company CRH (LON:CRH) also took a hit, falling 1.76%after its acquisition target Ash Grove Cement received a higher bid.
Germany’s DAX was flat at 0.07%. The auto industry was the biggest winner, with Volkswagen AG (DE:VOWG) up 0.54% and Bayerische Motoren Werke AG (DE:BMWG) increasing 0.63%.
Engineering firm Thyssenkrupp AG (DE:TKAG) O.N. was down 1.27% while Commerzbank (DE:CBKG) fell 0.86%.
The CAC 40 in France decreased 0.15%. Among the top gainers was hotel company Accor (PA:ACCP) SA, which increased 1.85% and manufacturer Renault (PA:RENA), which gained 1.57%.
Meanwhile the retail sector was among the hardest hit. Retailer Carrefour (PA:CARR) fell 1.23% and luxury designer LVMH Moet Hennessy Louis Vuitton SE (PA:LVMH) decreased 1.09%.