Europe markets set to open mixed

European stocks are expected to open mixed on Friday after President-elect Joe Biden was projected to win the battleground state of Arizona, cementing his path to the White House.

The U.K.’s FTSE 100 index is seen down more than 51 points at 6,295, France’s CAC 40 index is poised to open 27 points lower at 5,345, while Germany’s DAX is on track to open 51 points higher at 13,032, according to IG.

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.

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.

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