Investing.com - European stocks opened lower on Thursday, as investors remained cautious ahead of the release of euro zone inflation data due later in the day and as declining oil prices weighed on the mining sector.
During European morning trade, the EURO STOXX 50 tumbled 0.97%, France’s CAC 40 lost 1.02%, while Germany’s DAX 30 declined 0.55%.
European equities had strengthened on Wednesday after ECB board member Benoit Coeure said in an interview that negative interest rates will not be lowered further and ruled out the possibility directly financing government stimulus, also called “helicopter money.”
“We will not take rates into absurdly negative territory,” he said. “But we can never rule out further moves.”
Financial stocks were broadly lower, as French lenders Societe Generale (PA:SOGN) and BNP Paribas (PA:BNPP) lost 0.11% and 0.65%, while Germany’s Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) declined 0.23% and 0.53%.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) retreated 0.33% and 0.92% respectively, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) dropped 0.59% and 1.11%.
Unicredit earlier announced that it could delay a €1.76 billion rights issue for Banca Popolare di Vicenza which was set for April.
Elsewhere, Metro AG ST O.N. (DE:MEOG) tumbled 1.40% after moving sharply higher on Wednesday following news the German retailer is considering splitting into independently listed companies.
Orange SA (PA:ORAN) and Bouygues (PA:BOUY) SA plummeted 1.67% and 4.02% respectively after the two French operators said they will extend negotiations around completing their tie-up to the weekend, saying that the talks were "not yet sufficiently advanced".
In London, commodity-heavy FTSE 100 slid 0.62%, weighed by losses in the mining sector as oil prices moved lower after data showed that U.S. stockpiles hit record-highs last week.
Shares in Rio Tinto (LON:RIO) and Bhp Billiton (LON:BLT) plummeted 2.36% and 2.63% respectively, while Glencore (LON:GLEN) plunge 3.61% and rival company Anglo American (LON:AAL) dove 4.27%.
Financial stocks were also broadly lower, as HSBC Holdings (LON:HSBA) fell 0.33% and Lloyds Banking (LON:LLOY) declined 0.49%, while Barclays (LON:BARC) lost 1.12% and the Royal Bank of Scotland (LON:RBS) tumbled 1.16%.
On the upside, Tui AG NA (LON:TUIT) saw shares rally 2.92% after the travel company said that both bookings and revenue for the summer of 2016 are ahead of last year so far.
Carnival (LON:CCL) added to gains, with shares up 1.03% after the cruise company said profit nearly tripled in the first quarter, thanks to lower fuel costs.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.19% slip, S&P 500 futures a 0.24% fall, while the Nasdaq 100 futures indicated a 0.30% loss.