Investing.com - European stocks opened lower on Friday, as investors were eyeing the release of euro zone inflation data later in the day, after a disappointing reading in Germany on Thursday.
During European morning trade, the EURO STOXX 50 slipped 0.26%, France’s CAC 40 fell 0.22%, while Germany’s DAX 30 dipped 0.02%.
European equities weakened after data on Thursday showed that German annual inflation slowed to 1.6% this month from 2.2% in February, which was the highest rate since August 2012.
The report came after European Central Bank chief economist Peter Praet said the bank is still not convinced that the recent pickup in inflation will be durable and reiterated that underlying inflation pressures remain subdued.
Markets were also jittery after British Prime Minister Theresa May formally began Brexit proceedings on Wednesday, launching a two-year negotiation process before the divorce comes into effect in late March 2019.
Later in the day, the European Union was set to tell the U.K. how it aims to negotiate its "orderly withdrawal" from the bloc, limit uncertainties for businesses and pave the way for a close future partnership.
Financial stocks were broadly lower, as French lenders Societe Generale (PA:SOGN) and BNP Paribas (PA:BNPP) slid 0.19% and 0.55%, while Germany’s Deutsche Bank (DE:DBKGn) declined 0.45%.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) were flat, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) retreated 0.32% and 0.70% respectively.
On the upside, Volkswagen (DE:VOWG_p) AG climbed 0.46% after Bllomberg reported that the German carmaker has been authorized to sell diesel vehicles for the first time in the US since its emission scandal broke in 2015.
In London, FTSE 100 slid 0.29%, weighed by Old Mutual PLC (LON:OML), whose shares plunged 6.59%. The investments group announced earlier in the week that it will be selling a £358 million stake in its asset management arm in the latest stage of its plan to split itself up into four independent companies.
Mining stocks added to losses on the commodity-heavy index. Shares in Glencore (LON:GLEN) lost 1.01% and Rio Tinto (LON:RIO) tumbled 1.81%, while rivals Antofagasta (LON:ANTO) and Anglo American (LON:AAL) plummeted 1.84% and 2.06% respectively.
Financial stocks were also on the downside, as Lloyds Banking (LON:LLOY) slipped 0.26% and Barclays (LON:BARC) fell 0.28%, while HSBC Holdings (LON:HSBA) declined 0.32% and the Royal Bank of Scotland (LON:RBS) dropped 0.50%.
EasyJet PLC (LON:EZJ) was one of the top performers on the index, with shares up 0.99% after the airliner called for the U.K. to secure a bilateral agreement with the European Union to allow it to continue flights from Britain after it leaves the EU.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.15% fall, S&P 500 futures showed a 0.21% decline, while the Nasdaq 100 futures indicated a 0.19% loss.