European stocks opened lower on Tuesday as investors awaited the results of the US midterm elections. A wave of selling that began among US chipmakers had spread to Asian markets and then to Europe.
The Stoxx Europe 600 fell 0.5%. Paris opened down 0.6%, London lost 0.5% and Frankfurt declined 0.97%. ASML Holding, Europe’s largest chipmaking equipment group, dropped 2.6%, making it the biggest contributor to the pan-European index’s decline.
Brent crude futures moved back towards $107 a barrel after a Reuters report said the United States and Iran remained far from reaching an agreement to end their conflict.
Among individual stocks, Royal Philips rose 6.5% after reporting third-quarter profitability above expectations. Hugo Boss fell 1.4% after lowering its sales and profit forecasts, while Bayer gained 5.9% after raising its earnings estimates.
Sources: ANSA Economia.