Europe Markets: European stocks lower and U.S. equity futures stabilize amid earnings, pandemic worries

A street sign advises members of the public to “Maintain Social Distance” in Liverpool, north west England on October 12, 2020, as new local lockdown measures are set to be imposed to help stem a second wave of the novel coronavirus COVID-19.

paul ellis/Agence France-Presse/Getty Images

European equities slipped into negative territory on Wednesday, while U.S. stock futures stabilized, as investors weighed up earnings news and concerns over the pandemic.

The Stoxx Europe 600 index

fell 0.2%, after snapping a three-session win streak on Tuesday with a 0.6% decline. The German DAX

was flat and the French CAC 40

eased 0.1%. The euro EURUSD was steady.

The FTSE 100

rose 0.3%, getting boost from Brexit worries that were sending the British pound

lower. Sterling dropped 0.5% to $1.2908 as the Oct. 15 deadline set by the EU and the UK for the Brexit negotiations nears.

U.S. stock futures


were modestly higher, though Nasdaq-100 futures

rose 0.5%. Stocks finished lower on Tuesday after some U.S. drugmakers reported setbacks for their COVID-19 vaccine candidates.

Coronavirus concerns and stalled talks in Congress for another stimulus package have overshadowed earnings news, which continues on Wednesday, with financials Goldman Sachs

and Bank of America


In Europe, shares of travel-related stocks were under pressure as the U.K.’s new three-tier COVID-19 restrictions

Shares of International Consolidated Airlines
Deutsche Lufthansa

and Ryanair

all fell 3% or more.

In European earnings news, shares of ASML Holding

fell over 2% after the Dutch maker of semiconductor equipment reported a sharp rise in third-quarter net profit, but cautioned of uncertainties ahead due to the macroeconomic environment.

Shares of TomTom

rose 0.5% after the Dutch navigational systems maker reported a wider third-quarter net loss and warned over a sharp drop in full-year revenue.

Just Eat Takeaway

shares climbed 4% . The food-delivery service’s third-quarter order growth expanded further to 46.1% and its investment program appears to be paying off, said Giles Thorne, equity analyst at Jefferies.

Contributted By MarketWatch

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