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European stocks sapped by virus, U.S. election worries

Published 09/30/2020, 03:24 PM
Updated 09/30/2020, 03:30 PM
© Reuters.
VIE
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CPG
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SEVI
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STOXX
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SXKP
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SX3P
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SX7P
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SXAP
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SXTP
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Sept 30 (Reuters) - European stocks slipped on Wednesday as
surging coronavirus cases and a chaotic debate which underlined
the risks from the U.S. presidential election sapped risk
appetite at the end of a tumultuous month for financial markets.
The pan-European STOXX 600 index .STOXX was down 0.3% by
0711 GMT tracking Wall Street futures lower after a messy
face-off between U.S. President Donald Trump and Democratic
rival Joe Biden overnight stoked caution among investors.
Meanwhile, Britain reported 7,143 new coronavirus cases on
Tuesday, the highest single figure to date, and Germany looked
set to tighten COVID-19 restrictions. That offset optimism from data that showed a surge in German
retail sales in August and China's factory activity extending
solid growth in September. Growth-sensitive travel & leisure .SXTP , auto .SXAP and
banking .SX7P stocks led the declines, while defensive sectors
telecom .SXKP and utilities .SX3P helped limit losses.
UK-based Compass Group CPG.L slid 4.6% after the world's
biggest caterer said it expects to report a roughly one-fifth
fall in organic revenue for 2020. French waste and water management company Suez SA SEVI.PA
jumped 7.0% after bigger rival Veolia VIE.PA raised its offer
to 18 euros per share from 15.5 euros to buy a 29.9% stake in
the company.

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