London financial district skyline.
Leon Neal | Getty Images News | Getty Images
LONDON — European stock markets fell on Tuesday, reversing the positive momentum seen at the beginning of the new trading month.
pan-european Stocks 600 By 2 p.m. (9 a.m. ET), the index was down nearly 0.8%, with nearly every sector in negative territory. british FTSE The index fell almost 0.5% in afternoon trading, while Germany’s dachshund -1.1%, France CAC40 Italy fell by about 1%. FTSE MIB It fell by 0.6%.
UK benchmark yield 10 year government bondIt fell more than two basis points to 4.413% after Finance Minister Rachel Reeves, also known as Gilt, said in a speech that the government would act on “tough choices” ahead of the November 26 Budget.
The British pound last fell 0.6% against the US dollar to about $1.31.
Meanwhile, Orsted shares were trading around 0.1% after the Danish renewable energy giant agreed to sell a 50% stake in Britain’s Hornsea 3 offshore wind farm to Apollo Global Management in a deal worth $6 billion.
In financial news, blood pressureThe company’s stock rose 0.1% after the oil and gas company reported a $2.21 billion underlying replacement cost profit for the third quarter. The figure, a measure of net profit for London-listed companies, beat analysts’ expectations.
In other places, philips Revenue rose 2.5% after the company reported group revenue of 4.3 billion euros ($5 billion) in the third quarter, down from 4.34 billion euros a year earlier. The Dutch medical technology company’s three-month net profit amounted to 187 million euros.
European stock markets opened the new week and month on a strong note ahead of a busy week of central bank decisions and earnings. Third quarter results are expected to be released on Tuesday Geberit, Related British Cuisine And Ferrari.
Saudi Aramco, which released its latest financial results earlier, posted a 0.9% rise in third-quarter profit on increased production despite continued pressure on prices.
Turning to global markets, Asia-Pacific markets traded mixedly overnight, with US stock futures slightly lower. This comes after the S&P 500 and Nasdaq Composite both closed higher yesterday on continued enthusiasm around artificial intelligence trading.
Stocks related to the AI giant led gains on Monday, with Amazon signing a $38 billion deal with OpenAI and the e-commerce giant hitting a new high, closing 4% higher.
