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Jan. 27, 2021, 10:27 a.m. EST

European stocks track Wall Street lower with investors focused on Fed and big tech earnings

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By Barbara Kollmeyer

European stocks struggled on Wednesday, as losses for Wall Street weighed on sentiment, and investors waited for the outcome of a Federal Reserve meeting and technology company results.

The Stoxx Europe 600 index /zigman2/quotes/210599654/delayed XX:SXXP -0.37% slid 1.4% to 401.59, after a 0.6% gain on Tuesday. Elsewhere, the German DAX /zigman2/quotes/210597999/delayed DX:DAX -0.17% slumped 2.2%, the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +0.01% lost 1.7%, and the FTSE 100 index /zigman2/quotes/210598409/delayed UK:UKX -0.37% fell 1.6%.

After a slightly weaker close for Wall Street on Tuesday , U.S. stocks /zigman2/quotes/210599714/realtime SPX -1.34% /zigman2/quotes/210598065/realtime DJIA -1.11% /zigman2/quotes/210598365/realtime COMP -2.11% fell as trading began Wednesday . That is as computer software giant Microsoft /zigman2/quotes/207732364/composite MSFT -0.36% reported record earnings , hitting $40 billion in quarterly sales for the first time.

Investors are waiting on results from technology giants Apple /zigman2/quotes/202934861/composite AAPL -1.58% and Facebook /zigman2/quotes/205064656/composite FB +0.87% , along with electric-car maker Tesla /zigman2/quotes/203558040/composite TSLA -4.86% after the close of trading on Wednesday.

Investors will also get a decision from the Federal Reserve, followed by a news conference with Chair Jerome Powell, with hopes the central bank will continue with a supportive stance for markets amid the COVID-19 pandemic.

Global coronavirus virus infections topped the 100 million mark on Tuesday, according to a tally from Johns Hopkins University

The U.K. also reached a milestone on Tuesday, surpassing 100,000 COVID-19 deaths, the first European country to do so. Home Secretary Priti Patel is expected to announce new rules on Wednesday to limit the influx of visitors to the U.K.

Shares of Royal KPN /zigman2/quotes/200683801/delayed NL:KPN -0.04% jumped 2.6%, after the Dutch telecommunications company said fourth-quarter net profit more than doubled , boosted by one-off items. It also raised its cash-flow guidance for 2021.

Shares of Sanofi /zigman2/quotes/201967021/composite SNY +0.97% /zigman2/quotes/206928357/delayed FR:SAN +1.86% fell 1.6%. The pharmaceutical group said it would help BioNTech /zigman2/quotes/214419716/composite BNTX -2.16% produce the COVID-19 vaccine it is codeveloping with U.S. drug company Pfizer /zigman2/quotes/202877789/composite PFE -0.55% .

Sanofi said that it will continue to develop its two candidates against COVID-19. Sanofi and U.K. pharmaceutical group GlaxoSmithKline /zigman2/quotes/209463850/composite GSK +0.12% /zigman2/quotes/200381158/delayed UK:GSK +1.36% announced in December a delay of their joint COVID-19 vaccine, after the first trials showed an insufficient response in older patients.

Read: Tensions rise in Europe on AstraZeneca COVID-19 vaccine woes

EDF /zigman2/quotes/201783867/delayed FR:EDF +0.45% shares fell 2.8%, after the French utility released an updated schedule and cost estimates for the Hinkley Point C nuclear power station, saying it sees a delay and higher costs due to the pandemic.

Shares of technology firm ASML /zigman2/quotes/210293876/composite ASML -6.09% /zigman2/quotes/206208657/delayed NL:ASML -6.12% were down 1.6%.

Another big decliner was Danish shipping giant A.P. Moller-Maersk /zigman2/quotes/208739220/delayed DK:MAERSK.A -0.79% , whose shares fell 6%.

There were outsized gainers, which some attributed to big gains seen recently for U.S.-based videogames retailer GameStop /zigman2/quotes/203755179/composite GME +6.58% and movie-theater chain AMC Entertainment /zigman2/quotes/200235402/composite AMC -6.41% . The moves come as retail investors, organizing via forums such as Reddit’s WallStreetBets, have sought to boost a group of heavily shorted stocks.

A number of short positions on European stocks were under attack, with shares in French real-estate investment trust Klépierre /zigman2/quotes/205805944/delayed FR:LI +4.97% climbing nearly 20%, leading the Stoxx Europe 600’s best performers on Wednesday.

Read: GameStop inspired? Some of Europe’s most heavily shorted stocks are soaring

/zigman2/quotes/210599654/delayed
XX : STOXX
411.91
-1.51 -0.37%
Volume: 0.00
March 4, 2021 11:03p
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/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
14,056.34
-23.69 -0.17%
Volume: 84,620
March 4, 2021 6:30p
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/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
5,830.65
+0.59 +0.01%
Volume: 96,687
March 4, 2021 6:05p
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
6,650.88
-24.59 -0.37%
Volume: 897,540
March 4, 2021 4:58p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,768.47
-51.25 -1.34%
Volume: 3.44B
March 4, 2021 5:08p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
30,924.14
-345.95 -1.11%
Volume: 551.23M
March 4, 2021 5:08p
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/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
12,723.47
-274.28 -2.11%
Volume: 6.68M
March 4, 2021 5:16p
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/zigman2/quotes/207732364/composite
US : U.S.: Nasdaq
$ 226.73
-0.83 -0.36%
Volume: 44.73M
March 4, 2021 4:00p
P/E Ratio
33.77
Dividend Yield
0.99%
Market Cap
$1716.31 billion
Rev. per Employee
$877,393
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/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 120.13
-1.93 -1.58%
Volume: 178.15M
March 4, 2021 4:00p
P/E Ratio
32.48
Dividend Yield
0.68%
Market Cap
$2049.15 billion
Rev. per Employee
$1.86M
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/zigman2/quotes/205064656/composite
US : U.S.: Nasdaq
$ 257.64
+2.23 +0.87%
Volume: 31.63M
March 4, 2021 4:00p
P/E Ratio
25.50
Dividend Yield
N/A
Market Cap
$727.32 billion
Rev. per Employee
$1.47M
loading...
/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 621.44
-31.76 -4.86%
Volume: 65.92M
March 4, 2021 4:00p
P/E Ratio
988.61
Dividend Yield
N/A
Market Cap
$626.98 billion
Rev. per Employee
$445,694
loading...
/zigman2/quotes/200683801/delayed
NL : Netherlands: Euronext Amsterdam
2.82
-0.0010 -0.04%
Volume: 22.12M
March 4, 2021 5:37p
P/E Ratio
21.11
Dividend Yield
4.61%
Market Cap
€11.83 billion
Rev. per Employee
€522,966
loading...
/zigman2/quotes/201967021/composite
US : U.S.: Nasdaq
$ 45.90
+0.44 +0.97%
Volume: 2.01M
March 4, 2021 4:00p
P/E Ratio
9.49
Dividend Yield
2.56%
Market Cap
$114.31 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206928357/delayed
FR : France: Euronext Paris
76.75
+1.40 +1.86%
Volume: 2.29M
March 4, 2021 5:35p
P/E Ratio
8.75
Dividend Yield
4.10%
Market Cap
€94.67 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/214419716/composite
US : U.S.: Nasdaq
$ 95.15
-2.10 -2.16%
Volume: 2.34M
March 4, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$23.42 billion
Rev. per Employee
$92,777
loading...
/zigman2/quotes/202877789/composite
US : U.S.: NYSE
$ 34.20
-0.19 -0.55%
Volume: 45.45M
March 4, 2021 4:02p
P/E Ratio
20.00
Dividend Yield
4.56%
Market Cap
$191.81 billion
Rev. per Employee
$533,860
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/zigman2/quotes/209463850/composite
US : U.S.: NYSE
$ 34.28
+0.04 +0.12%
Volume: 7.77M
March 4, 2021 4:00p
P/E Ratio
11.79
Dividend Yield
5.83%
Market Cap
$84.30 billion
Rev. per Employee
N/A
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/zigman2/quotes/200381158/delayed
UK : U.K.: London
1,224.20 p
+16.40 +1.36%
Volume: 9.27M
March 4, 2021 4:35p
P/E Ratio
10.70
Dividend Yield
6.53%
Market Cap
£60.32 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201783867/delayed
FR : France: Euronext Paris
9.85
+0.04 +0.45%
Volume: 3.46M
March 4, 2021 5:35p
P/E Ratio
197.00
Dividend Yield
2.13%
Market Cap
€30.35 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210293876/composite
US : U.S.: Nasdaq
$ 510.50
-33.10 -6.09%
Volume: 1.70M
March 4, 2021 4:00p
P/E Ratio
52.06
Dividend Yield
0.55%
Market Cap
$233.35 billion
Rev. per Employee
$567,632
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/zigman2/quotes/206208657/delayed
NL : Netherlands: Euronext Amsterdam
435.60
-28.40 -6.12%
Volume: 1.37M
March 4, 2021 5:37p
P/E Ratio
51.35
Dividend Yield
0.63%
Market Cap
€193.26 billion
Rev. per Employee
€497,934
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/zigman2/quotes/208739220/delayed
add Add to watchlist DK:MAERSK.A
DK : Denmark: OMX
kr. 12,550.00
-100.00 -0.79%
Volume: 6,954
March 4, 2021 4:59p
P/E Ratio
13.48
Dividend Yield
2.63%
Market Cap
kr.253.99 billion
Rev. per Employee
N/A
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/zigman2/quotes/203755179/composite
US : U.S.: NYSE
$ 132.35
+8.17 +6.58%
Volume: 32.61M
March 4, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$8.66 billion
Rev. per Employee
$461,857
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/zigman2/quotes/200235402/composite
US : U.S.: NYSE
$ 8.03
-0.55 -6.41%
Volume: 77.82M
March 4, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$3.24 billion
Rev. per Employee
$140,744
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/zigman2/quotes/205805944/delayed
FR : France: Euronext Paris
20.69
+0.98 +4.97%
Volume: 1.26M
March 4, 2021 5:35p
P/E Ratio
N/A
Dividend Yield
6.53%
Market Cap
€5.52 billion
Rev. per Employee
€976,250
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