# European stocks lower and U.S. equity futures stabilize amid earnings, pandemic worries
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European stocks lower and U.S. equity futures stabilize amid earnings, pandemic worries
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ASML, TomTom, Just Eat Takeaway react to results
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
SXXP,
fell 0.2%, after snapping a three-session win streak on Tuesday with a 0.6% decline. The German DAX
DAX,
was flat and the French CAC 40
PX1,
eased 0.1%. The euro EURUSD was steady.
UKX,
rose 0.3%, getting boost from Brexit worries that were sending the British pound
GBPUSD,
lower. Sterling dropped 0.5% to $1.2908 ahead of Thursday’s deadline set by the EU and the U.K. for Brexit negotiations.
U.S. stock futures
ES00,
YM00,
were modestly higher, though Nasdaq-100 futures
NQ00,
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
GS,
and Bank of America
BAC,
reporting.
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
IAG,
Deutsche Lufthansa
LHA,
and Ryanair
RY4C,
all fell 3% or more.
In European earnings news, shares of ASML Holding
ASML,
ASML,
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
TOM2,
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
TKWY,
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.
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