FX.co ★ European Shares Seen Broadly Lower; FTSE 100 May See Firm Start

European stock markets are anticipated to open predominantly lower on Thursday, although the U.K. may see a firmer start following four consecutive days of declines.

On October 30th, the U.K. government will unveil its Autumn Budget. The Chancellor is expected to balance spending cuts and tax hikes with initiatives aimed at stimulating economic growth.

Market activity later in the day could be influenced by responses to recent U.S. economic data, including weekly jobless claims, October's manufacturing and services PMI, and September's new home sales figures.

Investors are also awaiting the release of the Flash Purchasing Managers' survey data from both the eurozone and the U.K.

In corporate developments, electric vehicle manufacturer Tesla announced strong third-quarter profits and surprised analysts with a forecast projecting a 20-30 percent increase in sales next year.

Tech behemoth IBM exceeded earnings expectations for Q3, although its revenue fell short of projections. Similarly, Mattel, the creator of the iconic Barbie and other popular toys, outperformed Wall Street's profit expectations for the quarter but adjusted its annual sales forecast downward.

Asian stock markets showed mixed results, with Chinese and Hong Kong indices lagging due to a decline in tech shares amid fears of escalating U.S.-China trade tensions.

Gold saw a modest rise in Asian trading, poised for a weekly gain driven by investor concerns surrounding the upcoming U.S. election and increased unrest in the Middle East.

A recent national poll suggests former President Donald Trump is gaining a lead over Vice President Kamala Harris in the race to succeed President Biden, though the market anticipates a closely contested election.

Oil prices climbed over 1 percent and are on track for a 3 percent gain for the week.

U.S. markets witnessed declines overnight as increasing bond yields and uncertainty about the November 5 presidential election led to a sell-off among major technology companies.

The 10-year Treasury yield reached its highest point in nearly three months amid speculation that the Federal Reserve may adopt a more cautious stance on rate reductions.

The Dow Jones Industrial Average fell 1 percent, the S&P 500 decreased by 0.9 percent, marking the third consecutive day of losses, and the technology-heavy Nasdaq Composite dropped 1.6 percent.

In Europe, stocks fell for the third consecutive session on Wednesday, as investors responded to mixed corporate earnings reports and anticipated the forthcoming U.K. autumn budget.

The pan-European STOXX 600 index slipped 0.3 percent. Germany’s DAX fell 0.2 percent, France’s CAC 40 lost 0.5 percent, and the U.K.’s FTSE 100 declined 0.6 percent.