A morning for stockpickers
SPY•European trading was driven by earnings, with decliners slightly outnumbering gainers and the STOXX 600 down 0.2%. Microsoft and Alphabet earnings, the British budget, and Fed and Bank of Canada rate decisions were due later.
1. Earnings drive trading
The STOXX 600 was down 0.2% after the first hour of European trading, with decliners slightly outnumbering gainers. Adyen fell 10% after earnings, while GSK and Banco Santander also declined; Standard Chartered and Deutsche Bank rose more than 3% after reporting results. The British budget was due around 1230 GMT, followed later by Fed decisions and Microsoft and Alphabet earnings.
