- The pan-European Stoxx 600 dipped 0.4% shortly after the opening bell, with almost all sectors and major bourses in negative territory.
- Biden's projected victory in Arizona sees the former vice president extend his lead over Trump by a further 11 electoral votes, taking his total to 290.
- On Saturday, NBC News projected Biden would win the presidential election after calling Pennsylvania for the Democratic nominee. Trump has, so far, refused to concede the election.
LONDON — European stocks opened lower on Friday after President-elect Joe Biden was projected to win the battleground state of Arizona, cementing his path to the White House.
The pan-European Stoxx 600 dipped 0.4% shortly after the opening bell, with almost all sectors and major bourses in negative territory.
Oil and gas stocks led the losses during early morning deals, down more than 1.2%, while the utilities sector bucked the trend, up around 0.4%.
Biden's projected victory in Arizona sees the former vice president extend his lead over Trump by a further 11 electoral votes, taking his total to 290.
On Saturday, NBC News projected Biden would win the presidential election after calling Pennsylvania for the Democratic nominee. That pushed Biden over the 270 Electoral College votes required to win the presidential race.
Trump has, so far, refused to concede the election.
Money Report
Stocks in Asia-Pacific were lower on Friday as coronavirus cases in the U.S. continue to surge, with mainland Chinese stocks dipping into negative territory during afternoon trade.
Stateside, U.S. stock futures were flat as Wall Street continues to grapple with a rising number of Covid-19 infections. Dow Jones Industrial Average futures traded 8 points higher, S&P 500 futures rose marginally and Nasdaq 100 futures traded 41 points higher.
Back in Europe, the euro area is scheduled to publish preliminary estimates for third-quarter unemployment change figures at 10 a.m. London time. Trade balance data and a second estimate of third-quarter GDP growth for the euro area will be released at the same time.
— CNBC's Christine Wang & Mike Calia contributed to this report.
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