Investing.com - European stocks opened broadly lower on Friday, as investors became wary ahead of this weekend’s highly anticipated meeting between major oil producers in Doha, Qatar, to discuss a potential output freeze.
During European morning trade, the EURO STOXX 50 slipped 0.12%, France’s CAC 40 fell 0.28%, while Germany’s DAX 30 slumped 0.48%.
Investors showed little reaction to data earlier showing that China’s gross domestic product rose by an annualized rate of 6.7% in the first quarter, in line with market expectations, following a growth rate of 6.8% in the three months to December.
Another report showed that Chinese industrial production increased by an annual rate of 6.8% in March, exceeding expectations for a 5.9% gain, after a 5.4% rise the previous month.
Meanwhile, crude prices moved higher on Friday ahead of this Sunday’s meeting between major oil producers in Doha.
Energy stocks were mixed, as French oil and gas major Total SA (PA:TOTF) rose 0.25% and Italy’s ENI (MI:ENI) SpA slipped 0.29%, while Norwegian rival Statoil ASA (OL:STL) dipped 0.08%.
Financial stocks were broadly lower, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) tumbled 1.22% and 1.12%, while Germany’s Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) declined 0.23% and 0.61%.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) dropped 0.66%, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) slid 0.46% and 0.64% respectively.
In earnings news, Carrefour (PA:CARR) reported sales in line with expectations, sending shares in the French supermarket chain up 3.38%.
In London, FTSE 100 inched up 0.03%, helped by SABmiller, whose shares rallied 1.13% after Anheuser-Busch InBev NV said Thursday it reached an agreement with the South African government to create a $69 million investment fund to help it secure regulatory approval of its acquisition of the U.K. brewing company.
Meanwhile, mining stocks were mixed on the commodity-heavy index. Shares in Glencore (LON:GLEN) eased up 0.05% and Bhp Billiton (LON:BLT) jumped 1.66%, while Rio Tinto (LON:RIO) slipped 0.22% and Anglo American (LON:AAL) plummeted 1.41%.
In the financial sector, stocks were also mixed as Lloyds Banking (LON:LLOY) added 0.25% and the Royal Bank of Scotland (LON:RBS) climbed 0.52%, while HSBC Holdings (LON:HSBA) and Barclays (LON:BARC) fell 0.22% and 0.24% respectively.
In the U.S., equity markets pointed to a steady to lower open. The Dow Jones Industrial Average futures pointed to a 0.04% dip, S&P 500 futures a 0.11% fall, while the Nasdaq 100 futures indicated a 0.09% loss.