European stocks partly reverse rally, awaiting Wall Street restart


EasyJet planes standing behind a car park at Stansted Airport on June 30, 2020 in Stansted, England.


Dan Kitwood/Getty Images

European stocks clung onto most of the previous day’s rally, as traders waited for Wall Street’s return after a three-day break.

Up 1.7% while U.S. markets were shut for the Labor Day holiday, the Stoxx Europe 600
SXXP,
-1.09%

slipped 0.9%.

The German DAX
DAX,
-0.98%
,
French CAC 40
PX1,
-1.33%

and U.K. FTSE 100
UKX,
-0.47%

slipped.

A mixed session looked in the cards for the U.S. after a three-day break, with the Nasdaq-100
NQ00,
-1.94%

set for a weaker open amid the continued worries about the technology stock rally, as well as the surprise decision by S&P Dow Jones Indices not to allow Tesla
TSLA,
+2.78%

into the S&P 500.

Renewed discussion by U.S. President Donald Trump of China “decoupling” added further concern for markets.

EasyJet
EZJ,
-6.81%

dropped 6%, as the airline said additional quarantine restrictions to seven Greek Islands will mean it will fly “slightly less than 40%” of its planned schedule over the current quarter.

JD Sports Fashion
JD,
+5.90%

jumped 8%, as the sporting-goods retailer said it was “generally encouraged by our performance since the stores reopened and with our performance in the first few weeks of the second half” that started Aug. 1.

Royal Mail
RMG,
+17.46%

rallied 16%, as the group’s statement ahead of its annual shareholder meeting highlighted the continuing shift to delivering parcels rather than mail.

Experian
EXPN,
+2.71%

rose 2%, as the credit checker revised upwards its estimate of revenue growth, citing U.S. mortgage demand, though it also revised cost estimates higher.



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