Investing.com - European stocks opened lower on Tuesday, as concerns over global growth continued to dampen market sentiment.
During European morning trade, the EURO STOXX 50 declined 0.46%, France’s CAC 40 slid 0.41%, while Germany’s DAX 30 fell 0.28%.
Investors remained cautious after oil prices fell back below $30 a barrel on Monday amid ongoing supply glut concerns.
In addition, a report on Monday showing that euro zone investor confidence deteriorated sharply this month highlighted the problems in the global economy.
Stocks globally have had a rough start to 2016, hurt by tepid U.S. growth, falling oil prices, and concern the world faces a China-led slowdown.
Financial stocks were mixed, as French lenders Societe Generale (PA:SOGN) and BNP Paribas (PA:BNPP) rose 0.30% and 0.52%, while Commerzbank (DE:CBKG) plummeted 2.27% and Deutsche Bank (DE:DBKGn) surged 4.84% in Germany.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) tumbled 1.40% and 3.19% respectively, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) gained 0.86% and 1.22%.
Elsewhere, French drugmaker Sanofi (PA:SASY) reported a decline in fourth quarter sales and business net income, sending shares down 0.31%.
Danish group Vestas Wind Systems (CO:VWS) surged 4.80% after posting fourth quarter revenue that exceeded analyst estimates and raising its dividend.
In London,commodity-heavy FTSE 100 slipped 0.18%, weighed by losses in the mining sector.
Shares in Glencore (L:GLEN) tumbled 1.68% and Rio Tinto (L:RIO) lost 2.34%, while Randgold Resources (L:RRS) and Antofagasta (L:ANTO) plunged 3.08% and 3.60% respectively.
Financial stocks were also mostly lower, as Lloyds Banking (L:LLOY) edged down 0.08% and HHSBC Holdings dropped 0.65%, while the Royal Bank of Scotland (L:RBS) retreated 0.98% and Barclays (L:BARC) declined 1.07%.
Adding to losses, Tui AG NA (L:TUIT) plunged 3.28% after the traval company posted a first quarter underlying loss of €101.7 million, a narrower loss than a year ago. The firm also said that bookings to Turkey this summer dropped by approximately 40% due to security concerns.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.52% drop, S&P 500 futures a 0.51% decline, while the Nasdaq 100 futures indicated a 0.37% slide.