European stock markets are currently experiencing declines as investors adjust their positions ahead of significant macroeconomic data and the upcoming U.S. vote on November 5.

Paris and Milan have both dropped by 1%, London has seen a decrease of 0.5%, and Frankfurt is down by 0.4%. In contrast, U.S. futures are slightly up, thanks to positive earnings from Alphabet, which surprised the market.

Among European stocks, UBS has seen an increase of 1.3% following strong financial results, while Volkswagen has gained 1.7% after reporting better-than-expected outcomes. However, Campari has experienced a sharp decline of 16% due to disappointing third-quarter results. Other notable losses include STM down 2.5%, Prysmian down 2.3%, and Moncler down 2.2%.

The energy and utility sectors are holding steady, supported by a 1% rise in oil prices, with WTI at $67.9 per barrel. Despite better-than-expected GDP growth figures from Germany, France, and Spain, market sentiment remains cautious as investors await Eurozone growth data and U.S. economic indicators later in the day.

Government bonds have shown little movement, with the spread between BTP and Bund widening by one basis point to 123, while the yield on Italian bonds remains stable at 3.56%.