Investing.com - European stocks were sharply lower on Friday, after disappointing German retail sales data and as markets were jittery ahead of the release of euro zone economic reports later in the day.
During European morning trade, the EURO STOXX 50 plummeted 1.15%, France’s CAC 40 plunged 1.33%, while Germany’s DAX 30 tumbled 1.02%.
Official data earlier showed that German retail sales fell 0.4% in April, disappointing expectations for a 0.2% rise, after a 0.1% decline the previous month.
However, downbeat U.S. data on Thursday dampened expectations for the Federal Reserve to scale down its stimulus program in the near future.
Financial stocks were broadly lower, as French lenders BNP Paribas and Societe Generale declined 0.48% and 1.03%, while Germany's Deutsche Bank retreated 0.75%.
Peripheral lenders added to losses, with Spanish banks Banco Santander and BBVA slid 0.72% and 1.23% respectively, while Italy's Unicredit and Intesa Sanpaolo dropped 0.46% and 1.10%.
In London, commodity-heavy FTSE 100 declined 0.82%, weighed by losses in the mining sector.
BHP Billiton and Rio Tinto saw shares retreat 0.12% and 1.12% respectively, while Anglo American dipped 0.01%.
Separately, coal producer Bumi plummeted 1.82% after saying a review of spending at one of its two Indonesian units found USD201 million of outlays with "no clear business purpose." The company is currently at the center of an ownership dispute between its founders.
Also on the downside, TUI Travel tumbled 1.43% after saying it plans to buy 60 Boeing 737 MAX aircraft valued at USD6.1 billion and will take options for another 90 planes as the travel company renews its fleet with airliners that are less costly to operate.
Meanwhile, financial stocks were mixed, as Barlays and HSBC Holdings slid 0.42% and 0.66%, while Lloyds Banking and the Royal Bank of Scotland gained 0.06% and 0.36%.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.47% loss, S&P 500 futures signaled a 0.57% drop, while the Nasdaq 100 futures indicated a 0.60% decline.
Later in the day, the euro zone was to publish preliminary data on consumer price inflation as well as data on the unemployment rate.
The U.S. was to release revised data on consumer sentiment from the University of Michigan, as well as data on personal income and expenditure and a report on manufacturing activity in Chicago.
During European morning trade, the EURO STOXX 50 plummeted 1.15%, France’s CAC 40 plunged 1.33%, while Germany’s DAX 30 tumbled 1.02%.
Official data earlier showed that German retail sales fell 0.4% in April, disappointing expectations for a 0.2% rise, after a 0.1% decline the previous month.
However, downbeat U.S. data on Thursday dampened expectations for the Federal Reserve to scale down its stimulus program in the near future.
Financial stocks were broadly lower, as French lenders BNP Paribas and Societe Generale declined 0.48% and 1.03%, while Germany's Deutsche Bank retreated 0.75%.
Peripheral lenders added to losses, with Spanish banks Banco Santander and BBVA slid 0.72% and 1.23% respectively, while Italy's Unicredit and Intesa Sanpaolo dropped 0.46% and 1.10%.
In London, commodity-heavy FTSE 100 declined 0.82%, weighed by losses in the mining sector.
BHP Billiton and Rio Tinto saw shares retreat 0.12% and 1.12% respectively, while Anglo American dipped 0.01%.
Separately, coal producer Bumi plummeted 1.82% after saying a review of spending at one of its two Indonesian units found USD201 million of outlays with "no clear business purpose." The company is currently at the center of an ownership dispute between its founders.
Also on the downside, TUI Travel tumbled 1.43% after saying it plans to buy 60 Boeing 737 MAX aircraft valued at USD6.1 billion and will take options for another 90 planes as the travel company renews its fleet with airliners that are less costly to operate.
Meanwhile, financial stocks were mixed, as Barlays and HSBC Holdings slid 0.42% and 0.66%, while Lloyds Banking and the Royal Bank of Scotland gained 0.06% and 0.36%.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.47% loss, S&P 500 futures signaled a 0.57% drop, while the Nasdaq 100 futures indicated a 0.60% decline.
Later in the day, the euro zone was to publish preliminary data on consumer price inflation as well as data on the unemployment rate.
The U.S. was to release revised data on consumer sentiment from the University of Michigan, as well as data on personal income and expenditure and a report on manufacturing activity in Chicago.