European stocks flat as upbeat earnings offset U.S. stimulus doubts

- European stocks hovered near a two-week high on Wednesday as upbeat earnings reports from UK’s Tesco and Germany’s Dialog Semiconductor helped offset uncertainties surrounding a fresh U.S. stimulus package.

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, October 6, 2020. REUTERS/Staff Asian stocks and U.S. futures also recovered from sharp losses that were sparked by U.S. President Donald Trump abruptly calling off talks with Democratic lawmakers on the coronavirus relief legislation until after the election. [.N]

Later on, Trump urged Congress to provide $1,200 stimulus checks for Americans and other support for airlines and small businesses. “You can look at this as partly a negotiating tactic,” said Craig Erlam, senior market analyst at Oanda in London. “You call off talks now in the hopes that the Democrats will cede a little bit a ground. But I’m sceptical we’ll get one before the election.”

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