European stocks open lower after Fed, BoJ hold; Dax down 0.17%

European stocks open lower after Fed, BoJ hold

European stocks opened lower on Thursday, after the Federal Reserve and the Bank of Japan decided to leave their monetary policies unchanged.

During European morning trade, the EURO STOXX 50 declined 0.45%, France’s CAC 40 dropped 0.50%, while Germany’s DAX 30 slipped 0.17%.

The Fed left interest rates unchanged close to zero on Wednesday and offered little guidance on future rate hikes.

In a statement released following its two-day meeting, the U.S. central bank said it will continue to "closely monitor inflation indicators and global economic and financial developments."

Separately, markets were surprised by the BoJ’s decision on Thursday to leave its current policy unchanged, quashing expectations for additional stimulus measures.

Financial stocks were broadly lower, as French lenders Societe Generale and BNP Paribas  declined 0.67% and 0.77%, while Germany’s Commerzbank  slid 0.33%.

Deutsche Bank overperformed by surging 3.99% after the bank posted a 58% decline in net profit in the first quarter.

Among peripheral lenders, Italy’s Unicredit  and Intesa Sanpaolo lost 0.18% and 0.89% respectively, while Spanish banks Banco Santander and BBVA dove 2.14% and 5.88%. BBVA earlier reported a 54% drop in first-quarter net profit.

Elsewhere, Airbus Group plunged 5.90% after reporting a 50% decline in first-quarter net profit and said it is "facing a serious challenge for production and customer deliveries" for one of its military aircraft.

In London, FTSE 100 lost 0.92%, weighed by losses in the financial sector, as Lloyds Banking plunged 3.05% after reporting a 46% drop in first-quarter pre-tax profit.

Barclays saw shares tumble 0.97% and HSBC Holdings  declined 0.76%, while the Royal Bank of Scotland  plummeted 1.15%.

WPP added to losses, with shares down 0.93% even after the advertising company an 11% increase in the first quarter revenue.

Meanwhile, mining stocks were broadly higher on the commodity-heavy index. Shares in Glencore  advanced 1.06% and Fresnillo  jumped 1.40%, while Bhp Billiton rallied 1.86% and Anglo American surged 3.14%.

In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.48% loss, S&P 500 futuresS&P 500.

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