European stocks fell on Wednesday, with investor concerns in the area of the COVID-19 epidemic and earnings-related news on stimulus progress in the US, with Wall Street equity futures also slipping into the red.
After dropping 0.4% on Tuesday, it fell about 1%. German DAX DAX,
The French CAC 40 PX1, while also fell 1%
Was just below 1%, and the FTSE 100 UKX,
Fell 1.2%. Oil prices CL00,
Were down more than 1%.
US stock futures ES00,
Nasdaq-100 futures fall with NQ00,
Major drop, after streaming video group Netflix NFLX
Disappointed late on Tuesday, with shares declining in premarket trading.
Wall Street’s equity closed on Tuesday, but at session highs, investors saw progress in a new round of fiscal stimulus to combat the economic downturn from the epidemic.
White House representatives and House Speaker Nancy Pelosi said both had made enough progress on Tuesday to justify further negotiations on Wednesday.
But a major risk could come from Senate Republicans for the agreement. The Washington Post told Senate Leader Mitch McConnell at a Tuesday lunch to his fellow Republicans that he had advised the White House against the pre-election deal.
“If Republican Senate leader Mitch McConnell refuses to table the bill, the excitement is dead in the water until after the US election,” said Jeffrey Haley, Ond’s senior market analyst, in a note to customers.
“More than two months away and a lifetime in the 2020 grant scheme,” he said. “Financial markets are ignoring this very real and obvious risk …”
Increasing coronavirus cases on both sides of the Atlantic continued to weigh on investors. In Spain, officials are reportedly considering a nationwide curfew, which will echo efforts seen in other European countries that are battling waves of autumnal transition.
Read: Manchester’s lockdown rebellion fails as Boris Johnson turns the sector into stricter COVID sanctions
Fresh concern was expressed over a second wave by Christine Lagarde, President of the European Central Bank.
“I think most scientists and various scientific bodies were expecting that there would be a cold again in November and December, along with factors of cold weather that had nothing to do with the virus. , “Lagarde said In advance Released on Tuesday for an interview with French news channel LCI.
“But it has come before and from that point of view it was a surprise and certainly it is not well,” she said.
The office said UK annual inflation rose 0.5% in September, rising 0.2% in August. Following the end of the government’s Eat Out to Help Out program, the restaurant contributed to higher transportation costs and higher prices, which led to reductions in the price of food.
The pound jumped 0.8% to $ 1.3049 after the EU’s chief negotiator Michel Barnier allegedly had a trade deal with the UK if both sides worked hard to cross “sticking points” in the coming days Can.
Investors were also absorbing the new crop of earnings.
Shares of LM Ericsson ERIC,
The Swedish telecommunications equipment manufacturer grew 8% after supporting its full-year group targets, and reported strong-to-expected profits. Ericsson saw limited impact with COVID-19 and increased demand for 5G.
The Dutch recruitment company said net profit fell in the third quarter, but shares rose 8%, but saw a partial recovery from an epidemic in revenue. The company said that there are signs of positive trend in early October.
Falling sales were reported for the first nine months of the year, but removed full-year guidance as door-to-door demand for the Swiss food giant remained strong. Nestle shares rose 1%.
Shares of Sentamin CEY,
Gold production and sales for the third quarter fell 12% after reports by London and Toronto-listed Minor.