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The East Front of the Capitol is seen in Washington, Wednesday, Nov. 4, 2020.
AP
European equities and U.S. stock futures fell on Friday as investors continued to watch American election results and soaring COVID-19 infections on both sides of the Atlantic.
On the heels of 1% gain on Thursday, its fifth-straight positive close, the Stoxx Europe 600 index SXXP, -0.35% slipped 0.4%. The index was set for its best weekly return, as of Thursday, since the week ending June 5. The German DAX 30 index DAX, -0.44% and French CAC 40 PX1, -0.40% fell by 0.5% each and the FTSE 100 index UKX, -0.19% was down 0.2%.
Set to break a winning streak, U.S. equity futures headed lower, with those for the S&P 500 ES00, -0.57% down 0.7% and Nasdaq-100 futures NQ00, -0.88% off nearly 1%. Stocks closed out the fourth-straight session of gains on Thursday and were set for the best weekly return since April.
Democratic challenger Joe Biden appeared to be moving closer to winning the White House over incumbent President Donald Trump, whose campaign has launched legal challenges to voting results for several states. Trump’s lead in Georgia over Biden is now down to just under 1,000 votes, according to the state’s tally.
Biden needs to win in just one of four swing states yet to be called — Georgia, Nevada, North Carolina and Pennsylvania — while Trump needs to win in all four. Trump repeated unfounded claims of election fraud in a news conference late Thursday.
Economic data will also be in focus for Friday, with U.S. payroll data for October on tap, and investors continue to watch soaring coronavirus cases. The U.S. notched more than 100,000 new coronavirus cases for a second straight day on Thursday, the only country to reach that grim daily marker. That’s as several European countries have imposed lockdowns and curfews to contain the virus.
Denmark will cull its entire mink population of up to 17 million after a mutation of the coronavirus found in the animals spread to humans.
Shares of Allianz ALV, +1.41% rose nearly 3% after the German insurer reported higher third-quarter net profit. The company said it would discontinue a previously suspended 2020 share buyback program due to economic uncertainties sparked by the coronavirus pandemic.
Shares of Compagnie Financiere-Richemont CFR, +9.68% surged 10% after profits fell sharply in its first half-year as the pandemic hit sales hard, but said it saw some positive trends in the second quarter.
French insurer Scor SCR, +6.29% reported a third-quarter net profit fell, but slight gain in gross written premiums. Shares rose 6%.
