Investing.com - European stocks were mostly lower on Thursday, as markets continued to pause after the recent post-U.S. election rally in global equities and eyed the release of final euro zone inflation data due later in the day.
During European morning trade, the EURO STOXX 50 shed 0.28%, France’s CAC 40 slipped 0.17%, while Germany’s DAX 30 fell 0.24%.
Global equities had strengthened broadly amid hopes that increased fiscal spending and tax cuts under Donald Trump’s administration will bolster economic growth and inflation.
Financial stocks were broadly lower, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) tumbled 0.96% and 1.52%, while Germany’s Deutsche Bank (DE:DBKGn) slipped 0.28%.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) lost 1.48% and 2.47% respectively, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) slid 0.39% and 0.69%.
Elsewhere, Henkel VZO (DE:HNKG) plummeted 1.53% after the German consumer goods group said on Thursday that it plans to focus on its top 10 brands and expand ecommerce sales in a move to respond to volatile markets and declining demand in Western Europe.
On the upside, Deutsche Telekom AG Na (DE:DTEGn) saw shares climb 0.49% after its chief executive said the company is 'not in the mood' to sell T-Mobile US, although it will be eyeing any changes in the U.S. regulatory environment under Donald Trump's administration.
In London, FTSE 100 added 0.16%, supported by Barratt Developments (LON:BDEV), whose shares rallied 1.60% after the housebuilder said it started cutting prices on some of its most expensive London homes due to declining demand.
Mining stocks added to gains, as Rio Tinto (LON:RIO) rose 0.25% and Glencore (LON:GLEN) advanced 0.68%, while Anglo American (LON:AAL) jumped 1.32% and Randgold Resources (LON:RRS) rallied 1.45%.
Rio Tinto made headlines on Thursday by firing two top executives over a probe in a $10.5 million payment linked to deal it won to develop an iron ore mine in Guinea.
Anglo American announced on Wednesday that it was suspending all operations at its Los Bronces copper mine in Chile after protests at the site.
Meanwhile, financial stocks were mixed. Shares in HSBC Holdings (LON:HSBA) inched up 0.05% and Barclays (LON:BARC) gained 0.53%, while Lloyds Banking (LON:LLOY) tumbled 1.08% and the Royal Bank of Scotland (LON:RBS) lost 2.14%.
In the U.S., equity markets pointed to a steady to higher open. The Dow Jones Industrial Average futures pointed to a 0.04% gain, S&P 500 futures showed a 0.01% uptick, while the Nasdaq 100 futures indicated a 0.22% rise.