European stocks slip as investors weigh earnings, oil prices and U.S. election risks
London (UKX) -0.44%; the sterling was little changed above $1.34, near its highest level since September 1.
Germany (DAX:IND) -0.97%.
France (CAC:IND) -0.60%. France recorded a state budget deficit of €159.2B in the January-September 2026 period, widening from €155.4B a year ago, as spending outpaced revenues.
In other parts of Europe, the annual consumer inflation in Switzerland accelerated to 1.5% in October.
The pan-European Stoxx 600 (STOXX) moved 0.64% lower to 645.26, as investors remained cautious as markets awaited the U.S. midterm elections and assessed the latest corporate earnings. Sentiment was also pressured by rising oil prices following reports of a U.S. strike on Iran’s Qeshm Island. Technology stocks were among the biggest decliners, tracking a global sector sell-off.
The euro held near $1.12, supported by hawkish ECB comments despite concerns over France’s fiscal outlook, while election uncertainty weighed on the dollar.
On the corporate front, ASML (ASML) and Siemens Energy (SIEGY) shares fell amid a broader technology sell-off, while Bayer (BAYRY) gained after raising its 2026 profit outlook. Investors also awaited earnings from Ferrari (RACE), BMW (BMWKY), Philips (PHG), Commerzbank (CRZBY), and Daimler Truck (DTRUY), among others.
In the bond market, the 10-year U.S. bond was up 2 basis points to 4.91%.
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