Investing.com - European stocks opened lower on Wednesday, after the release of mixed manufacturing activity data from China and as a decline in oil prices weighed on sentiment, while investors awaited the release of euro zone manufacturing data due later in the day.
During European morning trade, the EURO STOXX 50 retreated 0.46%, France’s CAC 40 declined 0.42%, while Germany’s DAX 30 slid 0.38%.
Earlier Wednesday, data showed that China’s official manufacturing purchasing manager’s index remained unchanged at 50.1 in May, compared to expectations for a downtick to 50.0.
However, China’s Caixin manufacturing PMI slipped to 49.2 in May from 49.4 the previous month, compared to expectations for a downtick to 49.3.
Meanwhile, oil prices continued to decline for a second consective session, as traders became cautious ahead of this Thursday’s OPEC meeting.
Energy-related stocks were broadly lower, as France’s Total SA (PA:TOTF) lost 0.78% and Italian rival ENI (MI:ENI) declined 0.73%, while Norway’s Statoil (OL:STL) tumbled 1.34%.
Financial stocks were added to losses, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) plummeted 1.43% and 2.12%, while Germany’s Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) slid 0.33% and 1.45%.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) lost 1.01% and 1.39% respectively, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) retreated 0.55% and 1.07%.
On the upside, Ahold Kon (AS:AHLN) saw shares rally 1.33% after the supermarket operator reported a 4.3% increase in first-quarter net sales and said its merger with Delhaize Group (NYSE:DEG) is "on track to close in mid-2016".
In London, FTSE 100 declined 0.67%, weighed by Wolseley (LON:WOS), whose shares plunged 4.62% after the building materials supplier announced further restructuring in the UK and Europe, as trading in several of its markets remains challenging.
Minings stocks were also sharply lower on the commodity-heavy index. Shares in Bhp Billiton (LON:BLT) tumbled 1.67% and Glencore (LON:GLEN) lost 2%, while Bhp Billiton and Anglo American (LON:AAL) dove 3.03% and 3.33% respectively.
Also on the downside, Lloyds Banking (LON:LLOY) lost 1.05% and Barclays (LON:BARC) plummeted 2.06%, while the Royal Bank of Scotland (LON:RBS) declined 2.54%. HSBC Holdings (LON:HSBA) overpeformed, with shares edging up 0.08%.
Meanwhile, Meggitt (LON:MGGT) was one of the top performers on the index, with shares jumping 1.03% after the aerospace and defence contractor said it completed a $600 million private placement to raise funds in a move to refinance credit facilities it secured in 2015.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.22% fall, S&P 500 futures a 0.21% slip, while the Nasdaq 100 futures indicated a 0.11% loss.