Stock markets were mixed on Wednesday, as strong corporate earnings and new devices from Apple failed to distract from the worsening picture on COVID-19 and US stimulus talks.
A man walks past a bank’s electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Wednesday, Oct. 14, 2020. Shares were mostly lower in Asia on Wednesday after pandemic concerns snapped a four-day winning streak on Wall Street. (AP Photo/Vincent Yu)
European stock markets opened close to flat on Wednesday morning, following a global slump for equities on Tuesday.
Markets around the world had fallen on Tuesday after two COVID-19 vaccine trials were paused. A lack of progress in US stimulus talks and rising COVID-19 cases around the world — leading to increased restrictions across Europe — also weighed on sentiment.
Michael Hewson, chief market analyst at CMC Markets, said on Wednesday morning there was a “sombre mood” among investors.
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The FTSE 100 (^FTSE) opened up 0.2% in London, while the DAX (^GDAXI) was flat in Frankfurt and the CAC 40 (^FCHI) fell 0.1% in Paris.
The FTSE 100 was boosted by strong earnings from Just Eat Takeaway (JET.L), which reported an ordering boom during lockdown. The stock rose over 5%.
Wall Street futures were trading higher. S&P 500 futures (ES=F) were pointing to a 0.3% rise at the open, while Dow Jones futures (YM=F) were up 0.1% and Nasdaq futures (NQ=F) were 0.5% higher.