Investing.com - European stocks opened mostly lower on Friday, as markets were jittery ahead of a speech by Federal Reserve Chair Janet Yellen scheduled later in the day and as declining oil prices weighed on the energy sector.
During European morning trade, the EURO STOXX 50 edged down 0.11%, France’s CAC 40 fell 0.19%, while Germany’s DAX 30 slipped 0.14%.
Investors were eyeing comments by Fed Chair Janet Yellen due later Friday, for futher hints on the timing of future rate hikes by the U.S. central bank.
Meanwhile, oil prices lost ground on Friday, as concerns over a global supply glut resurfaced.
Energy-related stocks were broadly lower, with shares in French oil and gas major Total SA (PA:TOTF) down 0.31% and Italy’s ENI (MI:ENI) dropping 0.50%, while Russian rival Gazprom (MCX:GAZP) edged down 0.18%.
Financial stocks added to losses, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) declined 0.56% and 1.03%, while Germany’s Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) lost 0.67% and 1.29%.
Among peripheral lenders, Italy’s Unicredit (MI:CRDI) and Intesa Sanpaolo (MI:ISP) lost 0.27% and 0.59% respectively, while Spanish banks Banco Santander (MC:SAN) and BBVA (MC:BBVA) slid 0.34% and 0.53%.
Elsewhere, Philips Lighting surged 7.15% for its first day of trading on Friday.
Philips Kon (AS:PHG), whose shares were up 0.29%, set pricing in the initial public offering of its lighting arm at 20 euros per share, indicating a market capitalization of 3 billion euros.
In London, commodity-heavy FTSE 100 edged up 0.10%, boosted by gains in the mining sector.
Shares in Randgold Resources (LON:RRS) rose 0.34% and Bhp Billiton (LON:BLT) climbed 0.51%, while Glencore (LON:GLEN) rallied 1.38% and Rio Tinto (LON:RIO) jumped 1.75%.
In the financial sector, stocks were mixed. HSBC Holdings (LON:HSBA) gained 0.30% and Barclays (LON:BARC) advanced 0.46%, while the Royal Bank of Scotland (LON:RBS) slipped 0.28% and Lloyds Banking (LON:LLOY) declined 0.56%.
Meanwhile, Sports Direct (LON:SPD) saw shares drop 0.46% after the members of Parliament investigating controversial business practices at the company told its founder, Mike Ashley, they will not visit headquarters before next month’s select committee hearing.
In the U.S., equity markets pointed to a steady to higher open. The Dow Jones Industrial Average futures pointed to a 0.03% gain, S&P 500 futures a 0.02% uptick, while the Nasdaq 100 futures indicated a 0.11% rise.