Investing.com - European stocks were little changed on Thursday, as investors were still digesting the formal start the U.K.’s exit from the European Union.
During European morning trade, the EURO STOXX 50 dipped 0.07%, France’s CAC 40 added 0.09%, while Germany’s DAX 30 eased up 0.07%.
Investors remained cautious after British Prime Minister Theresa May on Wednesday triggered Article 50, formally beginning the two year process of the UK’s exit from the European Union.
Later Thursday, the U.K. government was to release a White Paper outlining significant legislative guidelines for Brexit.
Markets were also jittery after Reuters reported on Wednesday that European Central Bank policymakers are wary of adjusting their policy message in April amid concerns over a potential surge in borrowing costs in the bloc’s periphery.
Financial stocks were mixed, as French lenders Societe Generale (PA:SOGN) and BNP Paribas (PA:BNPP) slipped 0.26% and 0.24%, while Germany’s Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) edged up 0.19% and 0.28%.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) lost 0.08% and 1.87% respectively, while Spanish banks Banco Santander (MC:SAN) and BBVA (MC:BBVA) added 0.03% and 0.14%.
Elsewhere, Lufthansa AG (DE:LHAG) was up 0.47% after the German airliner and Cathay Pacific disclosed a codesharing agreement that will give the Hong Kong carrier access to a wider European network and allow the European group to offer passengers new destinations in Australia and New Zealand.
RWE AG (DE:RWEG) added to gains, as shares advanced 0.69% after the German energy group said on Tuesday it would play an active role in consolidation of the power generation sector, thanks to potential deals in its core markets - Germany, Britain and the Netherlands.
In London, commodity-heavy FTSE 100 inched up 0.06%, led by Ashtead Group (LON:AHT), whose shares surged 2.44% after analysts at Liberum Capital started coverage on the stock and set a “buy” rating.
Mining stocks were also on the upside, as Rio Tinto (LON:RIO) added 0.16% and Randgold Resources (LON:RRS) rose 0.35%, while BHP Billiton (LON:BLT) gained 0.36% and Fresnillo (LON:FRES) advanced 0.46%.
Meanwhile, financial stocks were mixed. Shares in Barclays (LON:BARC) inched 0.02% higher and Lloyds Banking (LON:LLOY) edged up 0.15%, while HSBC Holdings (LON:HSBA) climbed 0.52%. The Royal Bank of Scotland (LON:RBS) underperformed, with shares down 0.25%,
SSE (LON:SSE) was one of the worst performers on the index, as shares plummeted 1.95% after the gas and electricity supplier said it expects challenges including lower operating profit in its networks division will result in dividend cover in the next financial year being at the lower end of the range targeted for the next three years.
In the U.S., equity markets pointed to a steady to higher open. The Dow Jones Industrial Average futures pointed to a 0.05% uptick, S&P 500 futures showed a 0.06% gain, while the Nasdaq 100 futures indicated a 0.09% increase.