Investing.com - European stocks opened lower on Thursday, as investors remained cautious ahead of the European Central Bank’s monetary policy decision, due later in the trading session.
During European morning trade, the EURO STOXX 50 slipped 0.25%, France’s CAC 40 shed 0.26%, while Germany’s DAX 30 fell 0.27%.
Later Thursday, the ECB was expected to leave interest rates unchanged. Market participants were eyeing the monthly press conference by ECB President Mario Draghi, scheduled after the policy decision, for indications on the bank’s future policy moves.
Financial stocks were broadly higher, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) gained 0.22% and 0.82%, while Germany’s Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) rose 0.30% and 0.51%.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) advanced 0.43% and 0.44% respectively, while Spanish bank Banco Santander (MC:SAN) climbed 0.36%.
Elsewhere, Linde AG (DE:LING) rose 0.32% after the German industrial gases group said its planned merger with U.S. company Praxair (NYSE:PX) was on track and that the two parties were still aiming to finalize the agreement by the end of April or beginning of May.
On the downside, Hugo Boss AG NA O.N. (DE:BOSSn) slipped 0.25% after the German luxury retailer said it expected sales to stabilise in 2017 and profitability to start to recover after turning its business around in China, where it slashed prices.
In London, commodity-heavy FTSE 100 dropped 0.53%, weighed by sharp losses in the mining sector.
Shares in Rio Tinto (LON:RIO) tumbled 1.73% and Glencore (LON:GLEN) lost 2.01%, while rivals Anglo American (LON:AAL) and bhp Billiton plummeted 2.57% and 4.15% respectively.
WM Morrison Supermarkets PLC (LON:MRW) added to losses, with shares down 5.67% even as the company lifted its full year dividend by 8.6% after reporting its first profit and like-for-like sales growth since 2012.
However, CEO David Potts said the turnaround has only just begun and warned of Brexit uncertainties.
Financial stocks were also mostly lower, as Lloyds Banking (LON:LLOY) dipped 0.03% and HSBC Holdings (LON:HSBA) edged down 0.16%, while the Royal Bank of Scotland (LON:RBS) slipped 0.25% and Barclays (LON:BARC) fell 0.25%.
Aviva (LON:AV) Plc was one of the top performers on the index, with shares surging 5.97% as the insurer said it is planning to return cash to shareholders this year, after reporting a 12% increase in full-year operating profits to £3 billion.
In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a 0.04% dip, S&P 500 futures showed a 0.02% uptick, while the Nasdaq 100 futures indicated a 0.06% slip.