LONDON — European markets opened lower on Wednesday as earnings season ramps up.
The pan-European Stoxx 600 was last down by 0.8% as markets opened, with all sectors and major bourses in the region pulling back. Household goods stocks fell 1.87%, while tech declined 1.07%.
Deutsche Bank, UniCredit, BNP Paribas and Banco Santander are among the European banks reporting earnings on Wednesday, alongside Easyjet, Iberdrola and Orange.
On the data front, flash purchasing managers’ index data is due to be released in the U.K. and the euro zone. The latest consumer confidence insights from Germany are also expected.
In the U.S., Nasdaq stock futures last traded lower after mega-cap tech companies Alphabet and Tesla reported their second-quarter results on Tuesday.
Google parent company Alphabet’s revenue and earnings results were in line with analyst estimates, but the the company missed on YouTube advertising revenue.
Meanwhile, Tesla reported weaker-than-expected results as auto revenue dropped 7% year over year.
Asia-Pacific markets fell Wednesday as traders considered earnings and the latest business activity from across the region.