European stock markets are down as investors reduce equity positions ahead of significant macro data and the upcoming U.S. vote on November 5. Paris and Milan fell by 1%, while London and Frankfurt declined by 0.5% and 0.4%, respectively. Despite the overall downturn, UBS and Volkswagen saw gains of 1.3% and 1.7% due to better-than-expected earnings, while Campari plummeted by 16% after disappointing quarterly results. Energy and utilities remained stable amid a recovery in oil prices.
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