Wednesday, November 2, 2016

European Stocks Set To Open Lower On US Election Uncertainty; Persimmon, Lufthansa Earnings Out

By Silvia Amaro
November 2, 2016

European markets are seen opening in the red Wednesday as doubts over the U.S. election outcome intensify.

The FTSE is expected to open 37 points lower at 6,880, the German DAX is seen 84 points down at 10,442, and, in France, the CAC should open 61 points lower at 4,431.

Investors are reconsidering their bets on a Clinton victory as opinion polls show the gap between the Democrat and the Republican candidates narrowing. A broad benchmark for Asian shares fell to a seven-week low overnight on the news.

The Clinton campaign is asking the FBI to disclose information on any ties between her opponent, Donald Trump, and Russia. The Democrats blame the FBI for "unfair" publicity too close to election day.

Back in Europe, data released by the British Retail Consortium showed that U.K. prices have not increased for consumers in the fallout of the Brexit vote.

In terms of corporate earnings, both Persimmon and Lufthansa will announce their third-quarter performance. Also, on Wednesday, the euro area's October final manufacturing PMI will be released.

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