Investing.com - European stocks opened lower on Thursday, as investors eyed the European Central Bank’s monetary policy decision due later in the day and focused on a fresh round of corporate earnings reports.
During European morning trade, the EURO STOXX 50 declined 0.47%, France’s CAC 40 slipped 0.29%, while Germany’s DAX 30 fell 0.28%.
Later Thursday, the ECB was expected to leave interest rates unchanged. Market participants were especially interested in the ECB President Mario Draghi’s press conference, scheduled shortly after the policy decision, for indications on the central bank’s future policy moves.
Financial stocks were broadly lower, as French lenders Societe Generale (PA:SOGN) and BNP Paribas (PA:BNPP) slid 0.32% and 0.78%, while Germany’s Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) declined 0.69% and 3.39%.
Earlier Thursday, Deutsche Bank reported lower-than-expected first-quarter revenue but said it doubled its net profit to €575 million.
Among peripheral lenders, Italy’s Unicredit (MI:CRDI) and Intesa Sanpaolo (MI:ISP) lost 0.09% and 0.55% respectively, while Spanish banks Banco Santander (MC:SAN) and BBVA (MC:BBVA) retreated 0.22% and 1.04%.
BBVA reported a net profit increase of €1.2 billion euros earlier in the day.
Elsewhere, Deutsche Lufthansa AG (BE:LHABy) tumbled 1.65% after the German airline announced earnings of €25 million euros compared to a loss of €53 million last year. It was the first time the company reported profits in the first quarter of the year since 2008.
In London, commodity-heavy FTSE 100 declined 0.68%, weighed by shqrp losses in the mining sector.
Shares in Rio Tinto (LON:RIO) and BHP Billiton (LON:BLT) tumbled 1.37% and 1.45% respectively, while rival company Glencore (LON:GLEN) plummeted 1.92%.
Meanwhile, financial stocks were mixed, as HSBC Holdings (LON:HSBA) edged down 0.11% and Barclays (LON:BARC) slid 0.31%, while the Royal Bank of Scotland (LON:RBS) jumped 1.23% and Lloyds Banking (LON:LLOY) surged 3.26%.
Taylor Wimpey (LON:TW) added to gains, with shares rising 0.25% after the company said it had a good start to 2017, thanks to positive customer demand and good mortgage availability.
In the U.S., equity markets pointed to a steady to higher open. The Dow Jones Industrial Average futures pointed to a 0.11% rise, S&P 500 futures showed a 0.06% uptick, while the Nasdaq 100 futures indicated a 0.11% gain.