European stock markets closed lower on Tuesday (November 3, 2026), as investor caution intensified ahead of the United States (US) midterm elections.
The STOXX 50 and STOXX 600 indices both fell by approximately 0.5%, though they managed to recover from their session lows. Markets in the UK and Spain faced greater pressure, while German and French markets saw more modest declines; the Italian market remained relatively stable.
The heaviest pressure came from the basic resources sector, which dropped nearly 2% following a decline in the prices of gold, silver, and copper, amid uncertainty surrounding US-Iran diplomacy. Retail stocks also fell by more than 1.5%, followed by the oil and gas sector, which weakened by nearly 1% due to a drop in global oil prices. The technology sector corrected by about 0.9%, with shares of SAP falling by approximately 2% and ASML also seeing a decline. Shares of Inditex, Banco Santander, L'Oréal, and Linde also ended in negative territory.
Nevertheless, some stocks managed to defy the market pressure. Bayer surged more than 4.5% after raising its 2026 profit forecast, while Philips rose nearly 5% following earnings that beat expectations. Shares of LVMH also climbed by about 2%. This mixed performance suggests that investors are becoming increasingly selective ahead of the US election results, which could influence the direction of economic policy, trade, and global financial market sentiment.
Source: Newsmaker.id