Investing.com - European stocks opened lower on Friday, as investors remained cautious ahead of the second round of the French presidential election on Sunday.
During European morning trade, the EURO STOXX 50 declined 0.32%, France’s CAC 40 fell 0.27%, while Germany’s DAX 30 slid 0.33%.
Polls declared that Emmanuel Macron won a TV presidential debate against Marine Le Pen late Wednesday, increasing the likelihood of a Macron victory at the runoff vote on Sunday.
Investors were also digesting the Federal Reserve’s decision to leave interest rates unchanged on Wednesday, as expected, and gave a positive assessment of the U.S. economy, suggesting it was still on track for two more rate hikes this year.
Financial stocks were broadly lower, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) declined 0.53% and 0.58%, while Germany’s Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) lost 0.15% and 0.64%.
Among peripheral lenders, Italy’s Unicredit (MI:CRDI) fell 0.31%, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) edged down 0.21% and 0.23% respectively.
Energy stocks were also on the downside amid declining oil prices. Shares in French oil and gas major Total SA (PA:TOTF) declined 0.67%, while Italy’s ENI (MI:ENI) tumbled 0.91%.
Volkswagen (DE:VOWG_p) AG shares slid 0.61% even as the German carmaker resumed U.S. diesel sales after the company’s emissions scandal. In April, a Detroit judge had sentenced the group to three years' probation and independent oversight in a plea agreement.
In London, conmodity-heavy FTSE 100 slipped 0.25%, weighed by losses in the energy sector.
Oil and gas major BP (LON:BP) saw shares tumble 1.26%, while rival company Royal Dutch Shell (LON:RDSa) dropped 0.64%.
Meanwhile, mining stocks were mixed, as BHP Billiton (LON:BLT) and Rio Tinto (LON:RIO) rose 0.22% and 0.50% respectively, while Glencore (LON:GLEN) declined 0.59% and Anglo American (LON:AAL) lost 1.05%.
In the financial sector, stocks were also mixed. Shares in the Royal Bank of Scotland (LON:RBS) edged up 0.11% and Lloyds Banking (LON:LLOY) added 0.23%, while HSBC Holdings (LON:HSBA) slipped 0.23% and Barclays (LON:BARC) plummeted 1.18%.
Meanwhile, Pearson (LON:PSON) Plc was one of the top performers on the index, with shares soaring 13.22% after the publishing company said it was looking at ways to save an additional £300 million by the end of 2019.
The group also said it has begun “a strategic review” of its U.S. school publishing business in a move to speed up its transition to a more digital group.
In the U.S., equity markets pointed to a steady to lower open. The Dow Jones Industrial Average futures pointed to a 0.11% fall, S&P 500 futures showed a 0.06% dip, while the Nasdaq 100 futures indicated a 0.07% downtick.