European stocks drift after rally, awaiting Wall Street restart

EasyJet planes standing behind a car park at Stansted Airport on June 30, 2020 in Stansted, United Kingdom.

Dan Kitwood/Getty Images

European stocks clung onto most of the previous day’s rally, as traders waited for Wall Street’s return after a three-day break.

Up 1.7% while U.S. markets were shut for Labor Day, the Stoxx Europe 600 SXXP, -0.90% slipped 0.1%.

The German DAX DAX, -0.56% and French CAC 40 PX1, -1.06% also slipped, while the FTSE 100 UKX, -0.47% rose, with the U.K. index that’s loaded up on exporters continuing to be bolstered by the weakness of the British pound GBPUSD, -0.54% on concerns over trade negotiations with the European Union.



A mixed session looked in the cards for the U.S. after a three-day break, with the Nasdaq 100 NQ00, -1.49% set for a weaker open amid the continued worries about the tech stock rally, as well as the surprise decision by S&P Dow Jones Indices not to allow Tesla into the S&P 500.

EasyJet EZJ, -5.57% dropped 5% as the airline said additional quarantine restrictions to seven Greek Islands will mean it will fly “slightly less than 40%” of its planned schedule over the current quarter.

JD Sports Fashion JD, +7.64% jumped 7% as the sporting-goods retailer said it was “generally encouraged by our performance since the stores re-opened and with our performance in the first few weeks of the second half” that started Aug. 1.

Royal Mail RMG, +18.95% rallied as the group’s statement ahead of its annual shareholder meeting highlighted the continuing shift to delivering parcels rather than mail.

Experian EXPN, +2.14% rose over 3% as the credit checker revised upwards its estimate of revenue growth, citing U.S. mortgage demand, though it also revised cost estimates higher.


Originally published on MarketWatch

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