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European stocks mostly lower amid mixed earnings

FXStreet (Mumbai) - The stocks on the European indices continues to trade flat to lower as mixed earning results and poor UK data dampens the investors’ sentiment. While absence of fresh economic news this session also keep the equities subdued.

VW scandal hits DAX once again

Germany’s, the DAX opened on a flattish note and turned lower subsequently, as the recent news on the VW emission scandal overshadowed the gains on the energy stocks, weighing on the index. The US Environmental Protection Agency said late on Monday it was now also looking at 3.0-liter V6 diesel engines. Volkswagen took issue with the findings, saying "no software has been installed" in such engines "to alter emissions characteristics in a forbidden manner.

The UK’s FTSE also keeps losses as poor earnings report from Standard Chartered soured the sentiment. While below estimates UK construction PMI reading also added to losses in the index. The UK lender Standard Chartered reported a pre-tax loss of $139 million for Q3.

Meanwhile, Germany’s DAX loses -0.37% to 10,909 points, while the UK’s FTSE trades -0.16% lower at 6,351. Among the other indices, the French CAC 40 index drops -0.07% to 4,912, while the pan-European Euro Stoxx 50 index declines -0.15% to 3,429 points.

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EUR/USD off lows but below 1.10

The EUR/USD pair recovered from the session low of 1.0977, but stays below 1.10 handle as the USD stays in demand amid moderate weakness in the European equities.
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