Investing.com - European stocks opened lower on Friday, as markets were jittery ahead of a meeting of euro zone finance ministers, expected to take place later in the day.
During European morning trade, the EURO STOXX 50 declined 0.57%, France’s CAC 40 slumped 0.37%, while Germany’s DAX 30 retreated 0.59%.
Investors remained cautious as the Eurogroup of finance ministers was to meet later in the day Dublin and were expected to discuss whether to give Ireland and Portugal an extension on their bailout loan repayments.
Cyprus was are also slated to be discussed at the meeting, after the country's government confirmed on Thursday that the cost of its bailout has risen to EUR23 billion EUR17.5 billion.
Financial stocks were broadly lower, as shares in French lenders BNP Paribas and Societe Generale retreated 0.81% and 1.10%, while Germany's Deutsche Bank and Commerzbank tumbled 1.57% and 1.08%.
Peripheral lenders added to losses, with Italian banks Unicredit and Intesa Sanpaolo declining 0.90% and 1.10% respectively, while Spain's BBVA and Banco Santander plummeted 1.29% and 3.79%.
Elsewhere, French computer-services company Cap Gemini plunged 3.11% after rival Indian company Infosys said it expects revenue to increase 6% to 10% in the year ending March 2014.
In London, FTSE 100 slid 0.36%, as U.K. lenders tracked their European counterparts lower.
Shares in HSBC Holdings dropped 0.65% and Barclays retreated 0.88%, while Lloyds Banking and the Royal Bank of Scotland tumbled 1.23% and 1.55% respectively.
Mining stocks were also on the downside, as BHP Billiton and Rio Tinto shed 0.19% and 1.16%, while rival Evraz slipped 0.12%.
Bloomberg reported earlier that Rio Tinto suspended operations at Bingham Canyon after the pit wall failure late on April 10. The company said the slide occurred along a geotechnical fault line.
Adding to losses, military-aircraft manufacturer BAE Systems Plc plummeted 2.82% after the stock was cut to "underweight" from "neutral" at JP Morgan.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.14% loss, S&P 500 futures signaled a 0.20% decline, while the Nasdaq 100 futures indicated a 0.18% fall.
Later in the day, the euro zone was to produce official data on industrial production, while the U.S. was to release official data on retail sales, producer price inflation and business inventories, as well as preliminary data from the University of Michigan on consumer sentiment.
During European morning trade, the EURO STOXX 50 declined 0.57%, France’s CAC 40 slumped 0.37%, while Germany’s DAX 30 retreated 0.59%.
Investors remained cautious as the Eurogroup of finance ministers was to meet later in the day Dublin and were expected to discuss whether to give Ireland and Portugal an extension on their bailout loan repayments.
Cyprus was are also slated to be discussed at the meeting, after the country's government confirmed on Thursday that the cost of its bailout has risen to EUR23 billion EUR17.5 billion.
Financial stocks were broadly lower, as shares in French lenders BNP Paribas and Societe Generale retreated 0.81% and 1.10%, while Germany's Deutsche Bank and Commerzbank tumbled 1.57% and 1.08%.
Peripheral lenders added to losses, with Italian banks Unicredit and Intesa Sanpaolo declining 0.90% and 1.10% respectively, while Spain's BBVA and Banco Santander plummeted 1.29% and 3.79%.
Elsewhere, French computer-services company Cap Gemini plunged 3.11% after rival Indian company Infosys said it expects revenue to increase 6% to 10% in the year ending March 2014.
In London, FTSE 100 slid 0.36%, as U.K. lenders tracked their European counterparts lower.
Shares in HSBC Holdings dropped 0.65% and Barclays retreated 0.88%, while Lloyds Banking and the Royal Bank of Scotland tumbled 1.23% and 1.55% respectively.
Mining stocks were also on the downside, as BHP Billiton and Rio Tinto shed 0.19% and 1.16%, while rival Evraz slipped 0.12%.
Bloomberg reported earlier that Rio Tinto suspended operations at Bingham Canyon after the pit wall failure late on April 10. The company said the slide occurred along a geotechnical fault line.
Adding to losses, military-aircraft manufacturer BAE Systems Plc plummeted 2.82% after the stock was cut to "underweight" from "neutral" at JP Morgan.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.14% loss, S&P 500 futures signaled a 0.20% decline, while the Nasdaq 100 futures indicated a 0.18% fall.
Later in the day, the euro zone was to produce official data on industrial production, while the U.S. was to release official data on retail sales, producer price inflation and business inventories, as well as preliminary data from the University of Michigan on consumer sentiment.