Investing.com - European stocks remained lower on Monday, as markets were jittery ahead of a meeing of euro zone finance ministers to take place later in the day, while disappointing Chinese industrial production data sparked fresh concerns over the outlook for global economic growth.
During European afternoon trade, the EURO STOXX 50 retreated 0.48%, France’s CAC 40 slid 0.30%, while Germany’s DAX 30 shed 0.44%.
Official data earlier showed that industrial production in China rose 9.3% in April, below expectations for a 9.5% increase and following an 8.9% rise the previous month.
The weaker-than-expected data fuelled concerns that China’s economic recovery was stalling.
Financial stocks remained broadly lower, as French lenders BNP Paribas and Societe Generale tumbled 1.32% and 1.66%, while Germany's Deutsche Bank and Commerzbank plummeted 2.40% and 4.92%.
Commerzbank said earlier that it was preparing to sell new shares as part of a EUR2.5 billion capital increase.
Peripheral lenders added to losses, with Spanish banks Banco Santander and BBVA plunging 2.18% and 2.27% respectively, while Italy's Intesa Sanpaolo and Unicredit retreated 0.93% and 0.96%.
Elsewhere, Adecco climbed 0.52% after the world’s largest supplier of temporary workers was raised to "overweight" from "neutral" at JPMorgan Chase & Co., which cited receding economic risks.
In London, FTSE 100 slipped 0.26%, as U.K. lenders tracked their European counterparts higher.
Shares in Barclays tumbled 1.46% and HSBC Holdings plunged 1.62%, while the Royal Bank of Scotland and Lloyds Banking plummeted 1.94% and 2.36% respectively.
In addition, Standard Chartered dove 3.76% as Carson Block, the short seller who runs Muddy Waters LLC, said he’s betting against the bank’s debt.
Meanwhile, mining giants BHP Billiton and Rio Tinto remained on the downside, declining 0.76% and 1%, while Anglo American retreated 1.46%.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.30% fall, S&P 500 futures signaled a 0.37% decline, while the Nasdaq 100 futures indicated a 0.41% loss.
Later in the day, the eurogroup of euro zone finance ministers were to hold talks in Brussels.
In addition, the U.S. was to release official data on retail sales.
During European afternoon trade, the EURO STOXX 50 retreated 0.48%, France’s CAC 40 slid 0.30%, while Germany’s DAX 30 shed 0.44%.
Official data earlier showed that industrial production in China rose 9.3% in April, below expectations for a 9.5% increase and following an 8.9% rise the previous month.
The weaker-than-expected data fuelled concerns that China’s economic recovery was stalling.
Financial stocks remained broadly lower, as French lenders BNP Paribas and Societe Generale tumbled 1.32% and 1.66%, while Germany's Deutsche Bank and Commerzbank plummeted 2.40% and 4.92%.
Commerzbank said earlier that it was preparing to sell new shares as part of a EUR2.5 billion capital increase.
Peripheral lenders added to losses, with Spanish banks Banco Santander and BBVA plunging 2.18% and 2.27% respectively, while Italy's Intesa Sanpaolo and Unicredit retreated 0.93% and 0.96%.
Elsewhere, Adecco climbed 0.52% after the world’s largest supplier of temporary workers was raised to "overweight" from "neutral" at JPMorgan Chase & Co., which cited receding economic risks.
In London, FTSE 100 slipped 0.26%, as U.K. lenders tracked their European counterparts higher.
Shares in Barclays tumbled 1.46% and HSBC Holdings plunged 1.62%, while the Royal Bank of Scotland and Lloyds Banking plummeted 1.94% and 2.36% respectively.
In addition, Standard Chartered dove 3.76% as Carson Block, the short seller who runs Muddy Waters LLC, said he’s betting against the bank’s debt.
Meanwhile, mining giants BHP Billiton and Rio Tinto remained on the downside, declining 0.76% and 1%, while Anglo American retreated 1.46%.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.30% fall, S&P 500 futures signaled a 0.37% decline, while the Nasdaq 100 futures indicated a 0.41% loss.
Later in the day, the eurogroup of euro zone finance ministers were to hold talks in Brussels.
In addition, the U.S. was to release official data on retail sales.