European stocks slip lower; UK budget, earnings and growth data in focus

Investing.com - European stock markets slipped lower Wednesday, as investors digested more quarterly earnings results while awaiting regional growth data as well as the UK budget.The last trading day of October has started on a cautious note as investors hunker down ahead of the various risk events, including the first budget from Britain's Labour government after 14 years of Conservative rule.

Investors are wary of what may be the biggest tax hikes in three decades, as well as increased borrowing, given the Labour Party’s pre-election promises to fix the country's struggling public services. On the economic front, the French economy showed some signs of encouragement, helped by the impact of the Paris Olympic Games, with data released earlier Wednesday revealing its third-quarterthird-quarter growth figures are likely to offer up a contrast, with the world's largest economy set to maintain a solid pace of growth.

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