Investing.com – European stock markets saw a slight decline on Wednesday as investors analyzed more quarterly earnings results and awaited regional growth data as well as the UK budget.
At 04:15 ET (08:15 GMT), the DAX in Germany traded 0.4% lower, the CAC 40 in France fell 0.8%, and the FTSE 100 in the U.K. dropped 0.5%.
The last trading day of October began cautiously as investors prepared for various risk events, including the first budget from Britain’s Labour government after 14 years of Conservative rule. Investors are concerned about potential tax hikes and increased borrowing as the Labour Party aims to address the country’s struggling public services.
On the economic front, the French economy showed some positive signs, with data released earlier on Wednesday revealing a 0.4% growth in the third quarter, slightly higher than the expected 0.3% growth. Additionally, GDP numbers are expected from Germany and the Eurozone, with a focus on the German release amid concerns of a possible recession. In contrast, the U.S. third-quarter growth figures are expected to show solid economic growth.
In the corporate sector, UBS impressed with its third-quarter profit, leading to a 2% rise in its stock. Standard Chartered and Aston Martin also saw increases in their stock prices after reporting positive quarterly results. Telenor and Volkswagen also reported positive earnings results, while Capgemini experienced a decline in its stock price.
Tech giants Alphabet, Meta Platforms, and Microsoft are set to release earnings after the close on Wednesday, drawing attention from investors.
Oil prices rose on Wednesday following an unexpected draw in U.S. inventories, with the Brent crude contract climbing to $71.33 per barrel and WTI futures trading at $67.84 per barrel. The API data showed a decrease in U.S. oil inventories, indicating potential tightness in the world’s largest fuel consumer. The official EIA data is expected to confirm these numbers later in the day.
Investors will continue to monitor earnings reports, economic data, and oil prices as they navigate through the current market environment.
Translate to B1 English:
Investing.com – European stock markets saw a slight decline on Wednesday as investors analyzed more quarterly earnings results and awaited regional growth data as well as the UK budget.
At 04:15 ET (08:15 GMT), the DAX in Germany traded 0.4% lower, the CAC 40 in France fell 0.8%, and the FTSE 100 in the U.K. dropped 0.5%.
The last trading day of October began cautiously as investors prepared for various risk events, including the first budget from Britain’s Labour government after 14 years of Conservative rule. Investors are concerned about potential tax hikes and increased borrowing as the Labour Party aims to address the country’s struggling public services.
On the economic front, the French economy showed some positive signs, with data released earlier on Wednesday revealing a 0.4% growth in the third quarter, slightly higher than the expected 0.3% growth. Additionally, GDP numbers are expected from Germany and the Eurozone, with a focus on the German release amid concerns of a possible recession. In contrast, the U.S. third-quarter growth figures are expected to show solid economic growth.
In the corporate sector, UBS impressed with its third-quarter profit, leading to a 2% rise in its stock. Standard Chartered and Aston Martin also saw increases in their stock prices after reporting positive quarterly results. Telenor and Volkswagen also reported positive earnings results, while Capgemini experienced a decline in its stock price.
Tech giants Alphabet, Meta Platforms, and Microsoft are set to release earnings after the close on Wednesday, drawing attention from investors.
Oil prices rose on Wednesday following an unexpected draw in U.S. inventories, with the Brent crude contract climbing to $71.33 per barrel and WTI futures trading at $67.84 per barrel. The API data showed a decrease in U.S. oil inventories, indicating potential tightness in the world’s largest fuel consumer. The official EIA data is expected to confirm these numbers later in the day.
Investors will continue to monitor earnings reports, economic data, and oil prices as they navigate through the current market environment.