European stocks were lower during morning trade Wednesday as doubts over the U.S. election outcome intensified and investors reacted to more corporate earnings. The Stoxx 600 was down 0.8 percent when trading began on Wednesday. All sectors were in the red, with banks falling as much as 2 percent. In the U.K., shares of Lloyds bank, HSBC, Barclays and RBS were all contracting, with the latter down 1.2 percent. The auto sector also saw major losses, down 1.7 percent in early deals. US election in focus Investors are reconsidering their bets on a Clinton victory as opinion polls show the gap between the Democrat and the Republican candidates narrowing. A broad benchmark for Asian shares fell to a seven-week low overnight on the news. The Clinton campaign is asking the FBI to disclose information on any ties between her opponent, Donald Trump, and Russia. The Democrats blame the FBI for "unfair" publicity too close to election day. Spot gold rose around 0.7 percent during early trade as some investors look at safe havens to deal with the volatile environment. Lufthansa, Hugo Boss, Persimmon earnings Back in Europe, data released by the British Retail Consortium showed that U.K. prices have not increased for consumers in the fallout of the Brexit vote. A Nationwide index showed Wednesday that house prices remain steady in the U.K. during the month of October, with a year-on-year growth rate of 4.6 percent from 5.3 percent in the previous month. The euro area's October final manufacturing PMI index came in at 53.5, compared to 52.6 in September, growing close to a three-year high. In terms of corporate earnings, Germany's Lufthansa announced its adjusted earnings before interest and taxes fell 6.5 percent in the third quarter. Its shares were down around 0.8 percent in morning trade. Hugo Boss also reported a drop in third-quarter profits, but the numbers were better-than-expected. Shares were up 7.5 percent in early deals. Persimmon saw its second-half operating margin improving from the first half, with private sales going up 19 percent. Its shares were up 0.5 percent. Moller-Maersk Group saw a slump in third-quarter profits due to low freight prices which it said were down 16 percent year-on-year. The world's largest shipping company saw its shares fall more than 7 percent. Oil prices were contracting for a fourth consecutive day. Brent was trading at $47.86 a barrel, falling 0.7 percent and WTI was at $46.26 dropping 0.88 percent. Source: CNBC
