Investing.com - European stocks were lower on Thursday, after disappointing economic data from Germany and France, although comments from the Federal Reserve slightly supported sentiment.
During European morning trade, the EURO STOXX 50 declined 0.39%, France’s CAC 40 retreated 0.44%, while Germany’s DAX 30 slipped 0.29%.
Official data showed that German retail sales dropped 1.7% in December, more than the expected 0.1% decline, after a 0.6% rise the previous month.
A separate report showed that French consumer spending was flat last month, disappointing expectations for a 0.2% rise, following a 0.2% increase in November.
The data came after the Fed said Wednesday that it will continue its USD85 billion a month quantitative easing program “if the outlook for the labor market does not improve substantially.”
The U.S. central bank also reiterated that it will continue to hold interest rates close to zero until the unemployment rate falls below 6.5%.
Financial stocks were mixed, as shares in French lenders BNP Paribas and Societe Generale dropped 0.43% and 0.30%, while Germany's Deutsche Bank and Commerzbank advanced 0.51% and 0.31% respectively.
Deutsche Bank posted a fourth-quarter loss that exceeded estimates after the company eliminated more than 1,400 jobs and set aside EUR1 billion for legal expenses, Bloomberg reported earlier.
Among peripheral lenders, Italian banks Intesa Sanpaolo and Unicredit added 0.07% and 0.48%, while Spain's BBVA and Banco Santander tumbled 1.20% and 2.03%.
In London, FTSE 100 slid 0.35%, weighed by sharp losses in the financial sector.
Shares in HSBC Holdings dropped 0.40% and Lloyds Banking retreated 0.82%, while the Royal Bank of Scotland and Barclays plummeted 1.14% and 1.09% respectively.
Elsewhere, mining giants Rio Tinto and BHP Billiton trended higher, rising 0.06% and 0.40%, while copper producer Kazakhmys surged 2.07%.
Oil and gas major Anglo American added to gains, climbing 0.50%, as did rival company BP, up 0.32%, while Petrofac, an international provider of integrated facilities services to the oil, gas and energy production and processing industries, jumped 1.85%.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.04% dip, S&P 500 futures signaled a 0.05% loss, while the Nasdaq 100 futures indicated a 0.34% decline.
Later in the day, the U.S. was to release the weekly government report on initial jobless claims.
During European morning trade, the EURO STOXX 50 declined 0.39%, France’s CAC 40 retreated 0.44%, while Germany’s DAX 30 slipped 0.29%.
Official data showed that German retail sales dropped 1.7% in December, more than the expected 0.1% decline, after a 0.6% rise the previous month.
A separate report showed that French consumer spending was flat last month, disappointing expectations for a 0.2% rise, following a 0.2% increase in November.
The data came after the Fed said Wednesday that it will continue its USD85 billion a month quantitative easing program “if the outlook for the labor market does not improve substantially.”
The U.S. central bank also reiterated that it will continue to hold interest rates close to zero until the unemployment rate falls below 6.5%.
Financial stocks were mixed, as shares in French lenders BNP Paribas and Societe Generale dropped 0.43% and 0.30%, while Germany's Deutsche Bank and Commerzbank advanced 0.51% and 0.31% respectively.
Deutsche Bank posted a fourth-quarter loss that exceeded estimates after the company eliminated more than 1,400 jobs and set aside EUR1 billion for legal expenses, Bloomberg reported earlier.
Among peripheral lenders, Italian banks Intesa Sanpaolo and Unicredit added 0.07% and 0.48%, while Spain's BBVA and Banco Santander tumbled 1.20% and 2.03%.
In London, FTSE 100 slid 0.35%, weighed by sharp losses in the financial sector.
Shares in HSBC Holdings dropped 0.40% and Lloyds Banking retreated 0.82%, while the Royal Bank of Scotland and Barclays plummeted 1.14% and 1.09% respectively.
Elsewhere, mining giants Rio Tinto and BHP Billiton trended higher, rising 0.06% and 0.40%, while copper producer Kazakhmys surged 2.07%.
Oil and gas major Anglo American added to gains, climbing 0.50%, as did rival company BP, up 0.32%, while Petrofac, an international provider of integrated facilities services to the oil, gas and energy production and processing industries, jumped 1.85%.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.04% dip, S&P 500 futures signaled a 0.05% loss, while the Nasdaq 100 futures indicated a 0.34% decline.
Later in the day, the U.S. was to release the weekly government report on initial jobless claims.