BERLIN, Nov 8 — European shares inched lower at the open today as miners led the declines on concerns of slowing demand from China, with investors also being cautious ahead of US midterm elections that will determine control of Congress.
The STOXX 600 index slid 0.4 per cent by 0808 GMT. The European basic resources index shed 0.8 per cent, tracking falls in prices of base metals amid fading hopes of China easing its strict zero-Covid policy.
Luxury giants, including LVMH and Hermes International, which have a major exposure to China, also fell 0.9 per cent and 1.3 per cent, respectively.
Markets now eye the US midterm elections later in the day, with analysts expecting a Republican victory and consequently would lead to a potential split government. A conclusive result could take days.
Pandora jumped 7.5 per cent, to the top of the STOXX 600 as the Danish jewellery maker reported third-quarter sales just above expectations. — Reuters
