European stocks mixed as global markets await US election results

European stocks mixed during Tuesday’s closing session, as global markets await the outcome of the US election held today.

According to CNBC, the European Stoxx 600 index rose 0.20 points, or 0.04%, to 509.41 points at the end of trading. Industrial stocks rose 1.2%, while autos fell 1.82%.

The German DAX index closed up 105.59 points, or 0.55%, to 19,253.44 points.

While the British FTSE 100 index fell 11.85 points, or 0.14%, to close at 8,172.39 points.

The French CAC 40 index rose 35.44 points, or 0.48%, to close at 7,407.15 points.

Hugo Boss shares closed down 4.3% after the company reported better-than-expected third-quarter operating profit but pointed to declines in the Asia-Pacific region linked to weakness in China.

The market is focusing on which party controls Congress after the US election, as a sweep by either Republican or Democrat could lead to sweeping spending changes or a major overhaul of tax policy.

The US presidential election is also a tight race between Republican Donald Trump and Democrat Kamala Harris, with uncertainty over the outcome of the vote.

Wall Street is also watching the Federal Reserve’s interest rate decision on Thursday, Nov. 7. According to the CME Group’s FedWatch tool, traders are pricing in a 99% chance of a quarter-point rate cut at the end of the central bank’s meeting, following a half-point cut in September.