Investing.com - European stocks opened lower on Friday, tracking the downward trend in U.S. and Asian markets and as disappointing German consumer climate data added to concerns over a slowdown in the euro zone's biggest economy.
During European morning trade, the DJ Euro Stoxx 50 fell 0.26%, France’s CAC 40 edged down 0.19%, while Germany’s DAX declined 0.40%.
Data earlier showed that the Gfk German consumer climate index ticked down to 8.3 this month, from a reading of 8.6 in August. Analysts had expected the index to slip to 8.5.
The report added to concerns over the outlook for growth in the euro zone's biggest economy as data on Wednesday showed that Germany's Ifo business confidence index deteriorated for the fifth successive month in September.
European equities found some support on Thursday after European Central Bank President Mario Draghi reiterated the bank's commitment to act with more policy measures to boost inflation in the euro zone.
On Wednesday, Mario Draghi had already vowed to keep monetary policy "accommodative" for as long as needed, and to use every tool at the ECB's disposal to fight deflation.
Financial stocks were mostly lower, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) slid 0.47% and 0.32%, although Germany's Deutsche Bank (XETRA:DBKGn) climbed 0.54%.
Among peripheral lenders, Italy's Intesa Sanpaolo (MILAN:ISP) and Unicredit (MILAN:CRDI) fell 0.08% and 0.25% respectively, while Spanish banks BBVA (MADRID:BBVA) and Banco Santander (MADRID:SAN) shed 0.37% and 0.46%.
Total (PARIS:TOTF) edged up 0.12% amid reports the oil and gas major may sell a stake in the Gulf of Mexico’s Tahiti oil field.
In the same sector, Norway's Statoil (OSLO:STL) declined 0.35% after saying it will postpone work on its Corner field project in the Canadian oil sands because of rising costs.
In London, FTSE 100 slipped 0.22%, weighed by Sports Direct (LONDON:SPD), down 2.20% after the sporting goods retailer said on Thursday it had entered into a put option agreement on a small stake in Tesco (LONDON:TSCO).
Meanwhile, financial stocks were steady to higher. Shares in Barclays (LONDON:BARC) and Lloyds Banking (LONDON:LLOY) inched up 0.02% and 0.05%, while the Royal Bank of Scotland (LONDON:RBS) added 0.19% and HSBC Holdings (LONDON:HSBA) climbed 0.52%.
In the mining sector, stocks were mixed. Glencore Xstrata (LONDON:GLEN) slipped 0.20% and Bhp Billiton (LONDON:BLT) saw shares slump 0.37%, while rivals Randgold Resources (LONDON:RRS) and Fresnillo (LONDON:FRES) rallied 1.15% and 1.27% respectively.
In the U.S., equity markets pointed to a moderately lower open. The Dow 30 futures pointed to a 0.07% loss, S&P 500 futures signaled a 0.07% slip, while the NASDAQ 100 futures indicated a 0.08% fall.
Later in the day, the U.S. was to released revised data on second quarter economic growth, as well as a report by the University of Michigan on consumer sentiment.