European Shares Decline As Investors Watch US Midterm Election Results

(RTTNews) - European stocks slipped into the red on Wednesday as investors awaited the results of Tuesday's midterm elections in the United States.

Early results from the elections showed Republicans are likely to narrowly win control of the U.S. House.

The dollar edged higher ahead of the U.S. consumer price inflation report due on Thursday, which might suggest the path for interest rates ahead.

Economists expect a modest slowdown in the annual rate of consumer price growth, which could add to optimism about a slowdown in the pace of rate hikes.

The pan European Stoxx 600 was down 0.52 percent at 419.43 after climbing 0.8 percent on Tuesday.

The German DAX slipped 0.7 percent, France's CAC 40 eased 0.3 percent and the U.K.'s FTSE 100 was down half a percent.

Deutz AG, an internal combustion engine manufacturer, jumped more than 2 percent after posting improved earnings in the third quarter.

Evotec plunged 10 percent after the drug discovery development company kept its outlook for FY22 unchanged.

Utility E.ON fell 2.4 percent after high energy costs dented its earnings in the January-September period.

Lender Commerzbank tumbled more than 5 percent after reporting a 52 percent fall in its third-quarter net profit.

Flutter Entertainment fell about 1 percent in London despite the gambling group upgrading full-year revenue guidance for its fast-growing U.S. business.

Media firm ITV slumped more than 6 percent after its third-quarter advertising revenue fell 14 percent amid difficult year-ago comparisons and continued "uncertainty."

Aviva declined 1.7 percent. The insurer reiterated plans for a share buyback program after reporting a rise in nine-month gross written premiums.

Funeral-related services provider Dignity lost 4.5 percent after it reported a loss for the past quarter.

Marks & Spencer fell over 4 percent. The retailer has put off a decision on resuming shareholder payouts until closer to the end of its fiscal year.