European stocks decline ahead of US presidential debate

European stocks decline ahead of US presidential debate

European stocks decline ahead of US presidential debate

(Reuters) – European stock markets opened lower on Tuesday as investors remained cautious ahead of the first US presidential debate.

The pan-European STOXX 600 index dropped 0.33% by 10.30 Moscow time, the British FTSE 100 lost 0.32%.

Growth-sensitive sectors such as banking, automotive and tourism lost 0.87-1.24%, spearheading the decline after the global death toll from COVID-19 surpassed the one million mark on Tuesday, according to Reuters estimates.

US House Speaker Nancy Pelosi said on Monday that Democrats have introduced a new $ 2.2 trillion coronavirus aid bill, which she said is a compromise that lowers the cost of supporting the economy.

Investors are now awaiting the first round of pre-election debates between Donald Trump and Joe Biden.

Air France KLM fell 4.33% after HSBC downgraded its rating.

Ferguson rose 4.75% after the UK plumbing distributor resumed its dividend payout on a 4.1% rise in annual profit.

(Shruti Shankar; Translated by Caleb Davis. Editor Marina Bobrova)

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