Investing.com - European stocks opened lower on Monday, despite growing expectations for further stimulus measures by the European Central Bank as investors remained cautious ahead of a report on the German business climate due later in the trading session.
During European morning trade, the EURO STOXX 50 dropped 0.70%, France’s CAC 40 retreated 0.53%, while Germany’s DAX 30 slid 0.33%.
European equities remained supported after ECB President Mario Draghi signaled last Thursday that fresh easing measures could be rolled out as soon as the bank’s next meeting in March.
Financial stocks were mixed. French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) fell 0.16% and 0.45%, while Germany’s Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) tumbled 1.76% and 1.35%.
Among peripheral lenders however, Unicredit (MI:CRDI) lost 1.35% and Intesa Sapaolo gained 0.59% in Italy, while Spanish banks Banco Santander (MC:SAN) and BBVA (MC:BBVA) added 0.02% and 0.55% respectively.
Elsewhere, Wincor Nixdorf O.N. (DE:WING) surged 2.19% after the German software manufacturer raised its forecast for operating profit after reporting a rise in first-quarter earnings.
On the downside, Siemens AG NA (DE:SIEGn) dropped 0.89% following reports it agreed to buy CD-adapco, a privately held U.S. engineering software firm, for close to $1 billion in cash.
In London, commodity-heavy FTSE 100 slipped 0.21%, weighed by losses in the mining sector.
Shares in Glencore (L:GLEN) retreated 0.99% and Bhp Billiton (L:BLT) lost 1.83%, while rival company Rio Tinto (L:RIO) tumbled 1.97%.
Financial stocks were also broadly lower, as HSBC Holdings (L:HSBA) edged down 0.10% and the Royal Bank of Scotland (L:RBS) declined 0.76%, while Barclays (L:BARC) dropped 0.92% and Lloyds Banking (L:LLOY) plummeted 1.93%.
Meanwhile, BT Group (L:BT) tumbled 1.50% amid reports it has been urged by lawmakers to spin off its national broadband network to boost speeds.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.49% decline, S&P 500 futures a 0.41% slide, while the Nasdaq 100 futures indicated a 0.46% drop.