European shares slip ahead of Trump-Biden debate
Reuters
Published Sep 29, 2020 08:38
(Reuters) - European stock markets opened lower on Tuesday as a rebound in the previous session fizzled out, with investors remaining cautious ahead of the first U.S. presidential debate.
The pan-European STOXX 600 (STOXX) 600 slipped 0.5% in early deals after recording its biggest single-day gain in three months on Monday.
Growth-sensitive sectors such as banks (SX7P), automakers (SXAP) and travel & leisure (SXTP), were down between 1.0% and 1.4% and led the declines as the global death toll from COVID-19 pandemic crossed 1 million, according to a Reuters tally.
While there were some signs of progress in talks over a fresh U.S. coronavirus relief bill, investors were mostly in a wait-and-see mode as U.S. Democratic presidential nominee Joe Biden and President Donald Trump looked set to square off in their first debate in Cleveland, five weeks before the election.
Among individual movers, Air France KLM (PA:AIRF) fell 3.9% after HSBC downgraded the stock to "reduce" from "hold".
British plumbing parts distributor Ferguson (L:FERG) jumped 6.3% as it restored its dividend after a series of cost-reduction measures and resilience in its main U.S. business helped it report a 4.1% rise in annual profit.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.