European stocks slipped on Friday, following oil and Asian benchmarks lower, as data showed the Eurozone economy had expanded slightly less than expected in the first quarter.
GDP expanded by 0.5% from the previous quarter and 1.5% year-on-year, according to European Union data. Early estimates from the EU's Eurostat statistics arm in April had pointed to a 0.6% quarterly expansion - up from 0.3% in the fourth quarter - and an unchanged year-on-year growth rate of 1.6%.
Figures from Eurostat showed Greece fared the worst of the 19 eurozone countries in the period, with its economy contracting by 0.4%. Spain posted a healthy 0.8% quarterly growth rate, while Germany - whose figures were released earlier - expanded by an above-forecast 0.7%, double the 0.3% growth rate in the fourth quarter. France also picked up pace to expand 0.5%, from 0.3% in the October-to-December period.
Benchmark indices had extended early losses by late morning after the data with the Dax in Frankfurt down 0.64% at 9,798.83 and the Cac 40 in Paris down 0.68% at 9,798.83. In London, the FTSE 100 fell 0.66% to 6,064.07
Brent crude was recently down 0.94% at $47.63 and West Texas intermediate was down 1.6% at $46.16.
S&P 500 mini futures were recently down 0.38%.
Construction and telecoms conglomerate Bouygues pared early gains in Paris to trade at 2.2% by late morning after its first-quarter loss came in smaller than expected.
In Milan, Salvatore Ferragamo (SFRGY) jumped more than 7% despite declining quarter sales in Europe, Asia Pacific and overall as the luxury goods company made progress on cost control. Both operating and net profit rose, with the bottom-line figure up 6.3% at €34 million ($38.6 million).
West Africa-focused gold miner Aureus Mining, which is listed in London and Toronto, plunged more than 19% after reporting first-quarter results without news on when production would resume at its Liberia mine after a problem with a detoxification circuit. It is seeking an agreement on a new debt-repayment schedule with its lenders.
In Tokyo, the Nikkei 225 fell 1.41% to 16,412.21 as the yen strengthened. The Topix closed down 1.28% at 1,320.19.
In Hong Kong, the Hang Seng fell 1.38% to 19,639.77. On mainland China, the CSI 300 closed down 0.49% at 3,074.94.