Investing.com - European stocks slid lower on Friday, after the release of positive data from Germany and Spain as Greek debt concerns continued to weigh on equity markets.
During European morning trade, the EURO STOXX 50 dropped 0.80%, France’s CAC 40 declined 0.66%, while Germany’s DAX 30 retreated 0.85%.
Earlier Friday, official data showed that German retail sales rose 1.7% last month, beating expectations for a 0.8% gain. The change in retail sales for March was revised to a 1.4% decline from a previously estimated 2.3% drop.
Separately, a preliminary report showed that Spanish consumer prices slipped 0.2% this month, compared to expectations for a 0.5% decline, after a 0.6% fall in April.
European equity markets were hit after after Greece's creditors said a deal to unlock rescue aid isn't imminent. Athens had claimed a solution could be reached by Sunday.
Financial stocks were broadly lower, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) slid 0.32% and 0.61%, while Germany's Commerzbank (XETRA:CBKG) fell 0.20%.
Among peripheral lenders, Italy's Intesa Sanpaolo (MILAN:ISP) and Unicredit (MILAN:CRDI) declined 0.20% and 0.60% respectively, while Spanish banks BBVA (MADRID:BBVA) and Banco Santander (MADRID:SAN) retreated 0.27% and 0.59%.
On the upside, Syngenta AG (SIX:SYNN) surged 2.34% amid reports the agrochemical maker is building up defenses in preparation for a possible higher bid from Monsanto Co. Syngenta had previously rejected an unsolicited $45 billion takeover offer from its U.S. rival.
In London, FTSE 100 dipped 0.04%, as U.K. lenders tracked their European counterparts lower.
Shares in HSBC Holdings (LONDON:HSBA) edged down 0.16% and Lloyds Banking (LONDON:LLOY) slumped 0.31%, while the Royal Bank of Scotland (LONDON:RBS) and Barclays (LONDON:BARC) lost 0.43% and 0.74% respectively.
In the mining sector, stocks were also on the downside. Glencore Xstrata (LONDON:GLEN) slipped 0.12% and Rio Tinto (LONDON:RIO) declined 0.36%, while Bhp Billiton (LONDON:BLT) dropped 0.40% and Anglo American (LONDON:AAL) tumbled 1.01%.
Elsewhere, Associated British Foods (LONDON:ABF) led gains on the index, with shares surging 3.44% after the food processing company received a consensus rating of "buy" from the twenty ratings firms that are currently covering the stock.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.39% decline, S&P 500 futures signaled a 0.43% loss, while the Nasdaq 100 futures indicated a 0.49% drop.
Later in the day, the U.S. was to release preliminary data on first quarter economic growth.