Investing.com - European stock markets were sharply lower on Thursday, as ongoing concerns over the outcome of Greece's controversial bailout referendum continued to weigh on investor confidence.
During European morning trade, the EURO STOXX 50 tumbled 1.02%, France’s CAC 40 dropped 0.60%, while Germany’s DAX 30 declined 0.96%.
Markets eyed Greece's upcoming vote on its latest bailout plan after French and German leaders warned Athens that it would not receive further European aid until it decides whether it wants to stay in the euro zone.
Meanwhile, the euro zone's bailout fund, the European Financial Stability Facility, was forced to put on hold plans to raise EUR3 billion in the bond market, adding to the region's turmoil.
European banks plummeted as they remain highly exposed to sovereign debt. Shares in French lenders Societe Generale tumbled 5.32% and BNP Paribas dropped 3.78%, while Germany's Deutsche Bank and Allianz slumped 3.21% and 3.33% respectively.
Peripheral lenders were also broadly lower with Italy's Intesa Sanpaolo plunging 5.43% and Unicredit declining 3.39%, after Rome's financial stability panel said that some of the country's banks were having difficulty raising money on international markets.
Carmakers added to losses, tracking a downward trend in crude oil prices. Shares in Daimler fell 0.99% and Volkswagen eased down 0.13%, while Fiat saw shares tumble 2.12%.
In London, commodity-heavy FTSE 100 fell 0.34%, led by sharp losses in energy stocks.
Mining giants Rio Tinto and Bhp Billiton plunged 1.92% and 1.73%, while British Petroleum saw shares edge down 0.61%.
Copper producers Xstrata and Kazakhmys declined 1.76% and 3.04% respectively.
U.K. lenders also posted sharp losses as shares in Barclays plummeted 2.11% and the Royal Bank of Scotland tumbled 1.38%, while Lloyds banking and HSBC Holdings dropped 1.25% and 1.18%.
Elsewhere, U.S. equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a fall of 0.62%, S&P 500 futures signaled a 0.69% drop, while the Nasdaq 100 futures indicated a 0.86% decline.
Later in the day, the European Central Bank was to hold its first policy setting meeting chaired by new head, Mario Draghi. Meanwhile, the U.S. was to produce its weekly report on initial jobless claims as well as a report on service sector activity from the Institute of Supply Management.
During European morning trade, the EURO STOXX 50 tumbled 1.02%, France’s CAC 40 dropped 0.60%, while Germany’s DAX 30 declined 0.96%.
Markets eyed Greece's upcoming vote on its latest bailout plan after French and German leaders warned Athens that it would not receive further European aid until it decides whether it wants to stay in the euro zone.
Meanwhile, the euro zone's bailout fund, the European Financial Stability Facility, was forced to put on hold plans to raise EUR3 billion in the bond market, adding to the region's turmoil.
European banks plummeted as they remain highly exposed to sovereign debt. Shares in French lenders Societe Generale tumbled 5.32% and BNP Paribas dropped 3.78%, while Germany's Deutsche Bank and Allianz slumped 3.21% and 3.33% respectively.
Peripheral lenders were also broadly lower with Italy's Intesa Sanpaolo plunging 5.43% and Unicredit declining 3.39%, after Rome's financial stability panel said that some of the country's banks were having difficulty raising money on international markets.
Carmakers added to losses, tracking a downward trend in crude oil prices. Shares in Daimler fell 0.99% and Volkswagen eased down 0.13%, while Fiat saw shares tumble 2.12%.
In London, commodity-heavy FTSE 100 fell 0.34%, led by sharp losses in energy stocks.
Mining giants Rio Tinto and Bhp Billiton plunged 1.92% and 1.73%, while British Petroleum saw shares edge down 0.61%.
Copper producers Xstrata and Kazakhmys declined 1.76% and 3.04% respectively.
U.K. lenders also posted sharp losses as shares in Barclays plummeted 2.11% and the Royal Bank of Scotland tumbled 1.38%, while Lloyds banking and HSBC Holdings dropped 1.25% and 1.18%.
Elsewhere, U.S. equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a fall of 0.62%, S&P 500 futures signaled a 0.69% drop, while the Nasdaq 100 futures indicated a 0.86% decline.
Later in the day, the European Central Bank was to hold its first policy setting meeting chaired by new head, Mario Draghi. Meanwhile, the U.S. was to produce its weekly report on initial jobless claims as well as a report on service sector activity from the Institute of Supply Management.