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

  • Reuters
  • Stock Market News
European stocks sapped by virus, U.S. election worries
Credit: © Reuters.

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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. Britain reported 7,143 new coronavirus cases on Tuesday, the highest single figure to date, and Germany looked set to tighten COVID-19 restrictions. offset optimism from data that showed a surge in German retail sales in August and China's factory activity extending solid growth in September. 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. 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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