Investing.com - European stocks opened higher on Friday, as investors eyed a fresh batch of corporate earnings reports, although concerns over political uncertainty in Europe continued to weigh.
During European morning trade, the EURO STOXX 50 inched up 0.01%, France’s CAC 40 added 0.18%, while Germany’s DAX 30 gained 0.38%.
Investors were still cautious amid concerns over the possibility of a Brexit or Trump-style shock result in France’s upcoming presidential election.
Worries over elections in the Netherlands, Germany and possibly Italy, as well as the ongoing row over Greece's bailout added to concerns over political risk in the euro area.
Market participants were also eyeing political developments in the U.S. after President Donald Trump said on Thursday that he would announce the most ambitious tax reform plan since the Reagan era in the next few weeks.
Financial stocks were mixed, as BNP Paribas (PA:BNPP) slipped 0.23% and Societe Generale (PA:SOGN) rose 0.33% in France, while Germany’s Deutsche Bank (DE:DBKGn) added 0.18% and Commerzbank (DE:CBKG) declined 0.86% in Germany.
Among peripheral lenders, Intesa Sanpaolo (MI:ISP) eased 0.09% and Unicredit (MI:CRDI) tumbled 1.59% in Italy, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) fell 0.08% and 0.23% respectively.
In earnings news, Renault SA (PA:RENA) said profit climbed 38% in 2016, sending shares up 1.64%.
Amundi SA (PA:AMUN) added to gains, as shares surged 4.45% after the asset management group said it was aiming to raise financing for the acquisition of rival Pioneer Investments from UniCredit by April.
The company also reported a 10% increase in assets under management to €1.1 trillion in 2016.
In London, commodity-heavy FTSE 100 climbed 0.57%, boosted by sharp gains in the mining sector.
Shares in Glencore (LON:GLEN) jumped 1.89% and Antofagasta (LON:ANTO) rallied 2.24%, while rivals Rio Tinto (LON:RIO) and Anglo American (LON:AAL) surged 2.79% and 3.20% respectively.
Wordpay Group was also on the upside, with shares up 0.58% after analysts at Deutsche Bank started coverage on the stock and set a “hold” rating.
In the financial sector, stocks were mixed. Barclays (LON:BARC) edged down 0.15% and the Royal Bank of Scotland (LON:RBS) slid 0.30%, while Lloyds Banking (LON:LLOY) eased up 0.08% and HSBC Holdings (LON:HSBA) added 0.12%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.17% rise, S&P 500 futures showed a 0.13% gain, while the Nasdaq 100 futures indicated a 0.19% increase.