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European stocks open lower amid earnings; Deutsche Bank up 5% after beating estimates

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European markets opened lower Wednesday after a slew of earnings both in the U.S. and Europe.

Deutsche Bank shares were 5% higher at the open. Germany's biggest lender on Wednesday reported a third-quarter net profit of 1.031 billion euros , slightly beating expectations despite an 8% fall on the previous year and ongoing struggles in the lender's investment unit.

Earnings are also out from Heineken, AkzoNobel, Lloyds Banking Group and Carrefour. In the U.S. last night, shares of Microsoft jumped after stronger-than-expected results in the fiscal first quarter. Meanwhile, Alphabet shares tumbled as its cloud business missed analysts' estimates.were mixed as investors in the region assessed Australia's third-quarter inflation figures.

Israel-Hamas war live updates: UN warns fuel in Gaza will run out by tonight; Israel says Hamas is stockpiling existing suppliesMarket volatility looks here to stay: Yields are still rising, a war is raging, and it's uncertain whether interest rates will stay higher for longer.Shares of chipmaker Nvidia fell sharply earlier this month after the U.S. government announced new restrictions on exporting advanced artificial intelligence chips to China.

 

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