Investing.com - European stocks were steady to lower on Thursday, as investors remained cautious amid declining oil prices and ahead of key U.S. data due later in the day and on Friday.
During European morning trade, the EURO STOXX 50 eased up 0.01%, France’s CAC 40 dipped 0.05%, while Germany’s DAX 30 inched 0.07% higher.
Oil prices continued to decline on Thursday after data showed that U.S. crude inventories rose unexpectedly last week.
French oil and gas major Total SA (PA:TOTF) dropped 0.70% and Italy’s ENI (MI:ENI) tumbled 1.41%, while Norwegian rival Statoil (OL:STL) retreated 0.98%.
Financial stocks were also broadly lower, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) slipped 0.29% and 0.39%, while Germany’s Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) declined 0.66% and 0.49%.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) lost 0.21% and 1.37% respectively. However, Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) overperformed, with shares up 0.19% and 0.21%.
Elsewhere, Thyssenkrupp AG (DE:TKAG) plummeted 2.44% after the German industrial conglomerate reported a 34% drop in net profit for the third quarter of its fiscal 2016.
On the upside, Danone SA (PA:DANO) gained 0.57% even after Cornucopia Institute, an organic industry watchdog group, asked federal anti-trust regulators to block the French company’s merger with WhiteWave Foods.
The group claims that the $12.5 million deal would give one company too much control of the U.S. certified organic milk industry.
In London, FTSE 100 declined 0.74%, as U.K. lenders tracked their European counterparts lower.
Shares in HSBC Holdings (LON:HSBA) lost 1.12% and the Royal Bank of Scotland (LON:RBS) tumbled 1.28%, while Lloyds Banking (LON:LLOY) and Barclays (LON:BARC) pluged 1.53% and 2.09% respectively.
Mining stocks were also broadly lower on the commodity-heavy index, as Rio Tinto (LON:RIO) dropped 0.66% and Glencore (LON:GLEN) retreated 0.85%, while Anglo American (LON:AAL) declined 1.59% and BHP Billiton (LON:BLT) plummeted 1.69%.
On the upside, Tui saw shares surge 4.25% after the tour operator cut its forecast for sales growth this year but maintained its outlook for increased profit.
In the U.S., equity markets pointed to a steady to higher open. The Dow Jones Industrial Average futures pointed to a 0.08% rise, S&P 500 futures a 0.01% uptick, while the Nasdaq 100 futures indicated a 0.03% gain.