European stock markets open without a clear trend. Election Day in the USA

He DAX

slightly inferior 19,160.65 points, FT-100 falls to 8179.68 points, CAC 40 rises above 7378.55 points, Eurostock 50 opens above 4856.45 points after rising 0.09%, while the index FTSE MIB It starts with a 0.07% increase. up to 35,574 points. The IBEX 35 index fell 0.09% at Tuesday’s opening to 11,794.00.

The season of summing up continues in Europe. Third-quarter earnings in Europe mostly beat low market expectations and investors are rewarding strong performance more generously than in previous years, although weak demand in China is cause for caution.

Two months before the start of the European earnings season, analysts cut their earnings growth estimates by about 380 basis points, setting a lower bar for companies to beat expectations, according to LSEG I/B/E/S data. Analysts typically cut their growth forecasts just before earnings season begins, but usually only by about 100 basis points.

From a corporate point of view, the merger of Vodafone and Hutchison Tree UK The $19 billion deal has a good chance of going ahead because investment commitments outweigh competition concerns, the British regulator said in a preliminary ruling on Tuesday. Britain’s Competition and Markets Authority said a deal could be done if its recommended remedies were implemented, including a legally binding commitment to invest in 5G network rollout as well as short-term customer protections.

Associated British Foods reported full-year profit growth of 32%, with strong performance from its grocery division and strong performance from Primark’s clothing business partly offset by an increasing decline in its sugar operations. In the year to September 14, the group’s adjusted operating profit, its preferred measure of profit, rose to 1.998 billion pounds ($2.6 billion) from 1.51 billion pounds in 2023/24. Revenue rose 2% to £20.1 billion.

Operating profit for the third quarter Hugo Boss on Tuesday slightly beat market expectations, reporting currency-adjusted group sales growth of 1% amid continued weakness in demand in China. Quarterly earnings before interest and tax (EBIT) fell 7% year-on-year to 95 million euros ($103.3 million), but was above analysts’ estimates of 90 million euros in a company survey. cost management contributed, he said. .

Zalando on Tuesday confirmed third-quarter results, confirming strong growth in two segments, helped by rising consumer demand. Its online fashion platform’s quarterly revenue rose 4.3% to 2.2 billion euros ($2.39 billion), accounting for 90% of its group’s revenue of 2.39 billion euros in the quarter.

German logistics giant DHL announced third-quarter net income of 751 million euros ($817 million) on Tuesday, below the company’s consensus estimate of 787 million euros. Last week, DHL lowered its full-year and medium-term forecast, citing weaker macroeconomic conditions in Europe and weak business-to-business mail volumes, as well as pre-announced quarterly operating profit in line with market expectations.

UK PMI and US trade balance ahead of election

Among macroeconomic indicators in Europe, fluctuations in the unemployment rate in Spain and PMI in the services sector in the UK stand out.

For the US, we will know exports, imports and trade balance.

Futures on Wall Street are trading timidly higher. The Dow Jones futures index rose 0.19% to 41,874 points. S&P 500 Index It rose 0.2% to top 5,725, while the NASDAQ 100 added 0.27% to 20,020.30.

Bags in anticipation of the US elections. “Although the outcome of the US elections and, above all, the reaction of the markets to them remain uncertain (…) Thus, in recent weeks, the likelihood of a victory for former President Trump has led to a rise in the dollar and a fall in bonds. , whose yields have risen significantly due to the “fear” that the expansionary fiscal policy announced by the Republican candidate will increase the already high government deficit and therefore increase the country’s debt to alarming levels. But this weekendThe release of slightly more favorable opinion polls for the Democratic candidate, Vice President Harris, yesterday “encouraged” many investors to take advantage of this and sell dollars and buy Treasuries. which led the latter to a significant decrease in its profitability,” say Link Securities experts.

If the end result turns out to be what is considered most favorable for the stock markets, that is, whoever wins their party will not have control of Congress, this could be a favorable scenario for stocks, since it will prevent either of the two candidates from realizing their election programs.

Asian stock markets are carried away by growth after the publication of data on the evolution of the services sector in China

which was expanding at its fastest rate since July. Similarly, the country’s authorities are considering their proposal aimed at reducing the financial burden on local administrations to support the economy as a whole. Based on the data, MSCI’s broadest index of Asia-Pacific shares excluding Japan rose 0.3%. The Nikkei index in Tokyo traded again after the holiday and added 1.4%. China’s CSI300 index added 2.4%, while Hong Kong’s Hang Seng rose 1.4%.

Oil prices are trading in a tight range ahead of an exceptionally close US presidential election after rising more than 2% in the previous session as OPEC+ delayed its plans to increase production in December. Meanwhile, Brent crude futures timidly rise above $75.14, while West Texas crude futures rise 0.10% to $71.53.

In the foreign exchange market, the euro-dollar added 0.08% to $1.0866, while among cryptocurrencies, Bitcoin lost 0.5% to top $68,739.9 and Ethereum lost 1.4% to $2,423.02.