Investing.com - European stocks opened lower on Monday, as disappointing Chinese manufacturing activity data added to concerns over global economic growth.
During European morning trade, the EURO STOXX 50 dipped 0.01%, France’s CAC 40 dropped 0.41%, while Germany’s DAX 30 slid 0.36%.
Data on Monday showed that China’s official manufacturing purchasing managers’ index ticked down to 49.4 in January from 49.7 the previous month, compared to expectations for a slip to 49.6.
The report fuelled further concerns over a slowdown in the world’s second biggest economy.
Financial stocks were broadly higher, with French lenders Societe Generale (PA:SOGN) and BNP Paribas (PA:BNPP) gained 0.06% and 0.40%, while Germany’s Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) declined 0.43% and 0.74%.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) advanced 0.38% and 2.03% respectively, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) rose 0.10% and 0.27%.
On the downside, Vallourec (PA:VLLP) lost 14.32% after the French maker of steel tubes said it plans to raise €1 billion partly by selling new shares to fund its restructuring in Europe and Brazil as the decline in oil prices has encouraged oil companies to cut investment.
Gazprom (MCX:GAZP) saw shares plummet 1.82% amid reports the Russian natural gas producer is plans to increase supplies to Turkey and the EU by 2% this year to record levels.
In London, FTSE 100 fell 0.28%.
Mining stocks were broadly higher, as shares in Bhp Billiton (L:BLT) jumped 1.09% and Glencore (L:GLEN) rallied 1.36%, while Anglo American (L:AAL) surged 1.60%.
Financial stocks were also mostly higher, as Lloyds Banking (L:LLOY) rose 0.30% and the Royal Bank of Scotland (L:RBS) gained 1.35%, while Barclays (L:BARC) rallied 1.46%.
HSBC Holdings (L:HSBA) underperformed however, with shares down 0.43%, following reports the lender is imposing a hiring and pay freeze in 2016.
Meanwhile, Ryanair Holdings PLC (L:RYA) jumped 1.89% after forecasting fourth-quarter traffic will grow more than expected and saying it will return €800 million to investors through a share-buyback program.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.80% gain, S&P 500 futures a 0.84% climb, while the Nasdaq 100 futures indicated a 0.72% rise.