European stocks set for lower open after Apple, Amazon disappoint

October 31, 2021

European traders will react to a busy morning of earnings, with BNP Paribas, Natwest, Glencore, BBVA and Bank of Ireland just some of those reporting before the bell.
On Wall Street, stock futures slipped in early morning trading Friday as shares of major technology companies suffered following disappointing earnings reports.

LONDON — European stocks are set to open lower Friday as traders digest a raft of U.S. and domestic corporate earnings.

The U.K.'s FTSE 100 is set to open lower by 9 points at 7,230, Germany's DAX is set to fall 48 points to 15,633 and France's CAC will edge lower by 9 points to 6,785, according to IG.

European traders will react to a busy morning of earnings, with BNP Paribas, Natwest, Glencore, BBVA and Bank of Ireland just some of those reporting before the bell.

On Wall Street, stock futures slipped in early morning trading Friday as shares of major technology companies suffered following disappointing earnings reports. Amazon shares dropped 4% in extended trading after the e-commerce giant badly missed earnings and revenue expectations for the third quarter.

Apple stock also fell more than 3% in after hours trading after the tech giant's quarterly revenue fell short of expectations amid larger-than-expected supply constraints on iPhones, iPads and Macs.

Back in Europe, new inflation data for the euro zone will be released at 10 a.m. London time.

This comes after the European Central Bank decided Thursday to keep interest rates and its monetary policy stance unchanged, despite ongoing inflationary pressures. President Christine Lagarde tried to play down the chances of a rate hike for 2022, hinting that market players might be getting ahead of themselves with their predictions.

Markets were fairly muted after the ECB's rate announcement, but southern European bond yields spiked after Lagarde's comments at the press conference.

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– CNBC's Yun Li contributed to this report.

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