European stocks mixed ahead of ECB statement; Dax up 0.28%

Investing.com - European stocks were mixed on Thursday, as investors remained cautious ahead of the European Central Bank's monthly policy statement, expected later in the day.

During European morning trade, the EURO STOXX 50 added 0.17%, France’s CAC 40 slipped 0.18%, while Germany’s DAX 30 gained 0.28%.

Speculation over a rate cut by the ECB intensified after recent weak economic data indicated that the economic outlook for the euro zone was deteriorating.

Data on Tuesday showed that euro zone unemployment rose to a record 12.1% in March while another report showed that inflation fell more-than-expected in April.

Recent comments by ECB officials have indicated that the bank would consider cutting rates if it was warranted by worsening economic data.

Financial stocks were broadly higher, as shares in French lenders Societe Generale and BNP Paribas added 0.15% and 0.69%, while Germany's Deutsche Bank and Commerzbank gained 1.52% and 0.34%

Peripheral lenders were also higher, with Spanish banks Banco Santander and BBVA advancing 0.36% and 0.41% respectively, while Italy's Unicredit and Intesa Sanpaolo rallied 0.51% and 0.94%.

On the downside, Siemens declined 0.66% after saying full-year net income from continuing operations will approach the low end of its EUR4.5 billion to EUR5 billion target.

In London, commodiy-heavy FTSE 100 slid 0.31%, weighed by sharp losses in mining stocks.

Mining giants BHP Billiton and Rio Tinto saw shares tumble 1.73% and 1.93%, while rivals Eurasian Natural Resources and Rangold Resources plunged 2.09% and 4.33% respectively.

Meanwhile, financial stocks were mostly lower. HSBC Holdings slid 0.32% and the Royal Bank of Scotland retreated 0.37%, while Lloyds Banking plummeted 1.64%. Barclays overperformed on the other hand, gaining 0.35%.

In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.27% gain, S&P 500 futures signaled a 0.33% increase, while the Nasdaq 100 futures indicated a 0.31% rise.

Also Thursday, Markit research group said Spain's manufacturing purchasing managers' index rose to 44.7 in April, from a reading of 44.2 the previous month, beating expectations for a rise to 44.5.

Later in the day, the U.S. was to publish the weekly government report on initial jobless claims and official data on the trade balance.