Gold traded flat at $4,080 an ounce, stabilizing after suffering its worst correction in 12 years on Monday.
Unicredit SpA beat both revenue and profit estimates in the third quarter, recovering momentum after its failed bid for Banco BPM. In the UK, Barclays Plc raised its full-year guidance, even as it set aside $314 million in provisions.
Europe’s auto sector is under pressure after the nationalization of Nexperia disrupted semiconductor supplies. Volkswagen AG will suspend production of its Tiguan and Golf models in Wolfsburg next week. The European Automobile Manufacturers Association (ACEA) warned that car output across the continent could face severe disruptions.
In the consumer space, L’Oréal SA reported disappointing sales as weakness in the U.S. offset a recovery in China.
On the macro front, UBS now puts the probability of a U.S. recession at 93%, citing slowing credit growth and fragile consumer confidence.
After a mixed session in Asia, European equities and U.S. futures were little changed.