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European stocks were mixed on Tuesday amid rising inflation expectations and concerns over U.S. fiscal deficit.<\/p>\n
With about two weeks left before the Nov. 5 election, Treasury yields remained elevated on concerns about the path of the U.S. deficit regardless of which candidate wins the race for the White House.<\/p>\n
The pan European STOXX 600 dropped 0.4 percent to 519.52 after falling 0.7 percent on Monday. <\/p>\n
The German DAX edged up 0.3 percent, while France’s CAC 40 shed 0.4 percent and the U.K.’s FTSE 100 declined 0.6 percent. <\/p>\n
The British pound was little changed ahead of an upcoming speech from the Bank of England’s (BoE) Governor Andrew Bailey.<\/p>\n
Data showed earlier in the day that the U.K. budget deficit widened more than estimated in September and also hit the highest level for the month since 2021.<\/p>\n
Chancellor Rachel Reeves is set to deliver the Autumn Budget 2024 on October 30. The budget is expected to hike taxes and reduce spending worth GBP 40 billion.<\/p>\n
Chief Secretary to the Treasury Darren Jones said the budget would require difficult decisions to fix the foundations of the economy<\/span> and begin delivering on the promise of change.<\/p>\n In corporate news, SAP surged 5.3 percent after the German software giant raised its full-year targets on a strong cloud business<\/span> in the third quarter.<\/p>\n Swiss Computer parts maker Logitech International plunged 5.5 percent in volatile trade after raising its full-year outlook. <\/p>\n Swedish aerospace and defense company Saab AB soared 6 percent after reporting significantly higher profit and orders in its third quarter with strong growth in demand. <\/p>\n Tele2 AB, a provider of telecommunication services, fell 2.8 percent as it reported net sales in line with expectations in the third quarter. <\/p>\n Mulberry Group shares tumbled 3.2 percent after the British luxury fashion brand rejected a second takeover proposal from Mike Ashley’s Frasers Group, saying it was “untenable”.<\/p>\n Oil services engineer Hunting plunged 17 percent after cutting its full-year earnings guidance. <\/p>\n Cycling and motoring specialist Halfords Group jumped 5.3 percent after reporting stable first-half sales and backing its full-year guidance.<\/p>\n InterContinental Hotels dropped 1 percent after saying its revenue per available room (RevPAR), a key industry metric, increased 1.5 percent for the third quarter. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n