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A street sign advises members of the public to “Maintain Social Distance” in Liverpool, northwest England on October 12, 2020.
paul ellis/Agence France-Presse/Getty Images
European equities shook off early losses to inch higher on Wednesday, while U.S. stock futures also rose, as investors weighed up earnings news and concerns over the COVID-19 pandemic.
The Stoxx Europe 600 index SXXP, +0.21% inched up 0.2%, after snapping a three-session win streak on Tuesday with a 0.6% decline. The German DAX DAX, +0.22% and the French CAC 40 PX1, +0.18% rose 0.1%. The euro EURUSD was steady.
The FTSE 100 UKX, +0.35% rose 0.4%, getting a boost from Brexit worries that were sending the pound GBPUSD, +0.04% lower earlier. Sterling flatted out to $1.2927 ahead of Thursday’s deadline set by the U.K. and the European Union for Brexit negotiations.
On firmer footing were U.S. stock futures ES00, +0.27% YM00, +0.26%, up around 0.3% across the board, including Nasdaq-100 futures NQ00, +0.20%. 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, -1.54% and Bank of America BAC, -2.84% reporting.
In Europe, shares of travel-related stocks were under pressure as England’s new three-tier COVID-19 restrictions
Shares of International Consolidated Airlines IAG, -1.47%, Deutsche Lufthansa LHA, -2.20%, and Ryanair RY4C, -0.89% all fell 3% or more.
In European earnings news, shares of ASML Holding ASML, -0.81% ASML, +1.53% 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, +4.47% 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, +5.08% 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.
