(fxcue news) - European stocks closed lower on Wednesday with investors focusing on quarterly earnings and other corporate news. The mood was cautious and investors largely refrained from picking up stocks ahead of UK autumn budget and the upcoming U.S. Presidential election. U.S. Treasury yields hovered near three-month highs as traders pondered the prospect of a Donald Trump presidency. It is feared that Trump policies including tariffs and restrictions on undocumented immigration could increase inflation and keep interest rates relatively high for a longer-than-anticipated period. The pan European Stoxx 600 dropped 0.3%. The U.K.'s FTSE 100 ended down 0.58%, Germany's DAX closed down 0.23%, and France's CAC 40 lost 0.5%, while Switzerland's SMI edged down 0.13%. Among other markets in Europe, Austria, Denmark, Finland, Greece, Ireland, Netherlands, Norway, Portugal, Russia and Turkiye closed weak. Iceland, Poland, Spain and Sweden ended higher, while Belgium closed flat. In the UK market, Reckitt Benckiser gained 4% as the consumer goods company reported a smaller than expected fall in third-quarter underlying sales. Barratt Redrow gained about 2.5%. The homebuilder said it is encouraged by solid trading in recent weeks amid more stable market conditions. WPP ended up 6.1%. The advertising group reported a better-than-expected 0.5% rise in like-for-like organic revenue in the third quarter. Smith (DS) climbed 3.1%, while Rentokil Initial, Ashtead Group and Pearson gained 1.5 to 1.75%. Fresnillo gained after a solid third-quarter output performance. 3i Group, Anglo American Plc, Smiths Group, Unilever, Endeavour Mining, Phoenix Group Holdings, IMI, Glencore, RightMove, Centrica, Frasers Group, Schrodders, Weir Group, Pershing Square Holdings, Howden Joinery, M&G, Barclays Group and Convatec Group lost 1.6 to 2.5%. In the German market, Zalando ended down 2.6%. Deutsche Boerse, Merck, Continental, Adidas, Deutsche Post, RWE, Siemens, Puma and Daimler Truck Holding lost 1 to 2%. Infineon climbed about 2.3%. SAP and E.ON gained 1.6% and 1.1%, respectively. In the French market, L'Oreal lost about 2.5% after the French cosmetics giant reported a rise in third quarter sales that missed expectations due to low consumer confidence in China. Vivendi, Pernod Ricard, Kering, Eurofins Scientific, Renault, Capgemini, Saint-Gobain and Thales lost 1.2 to 2%. Air Liquide ended nearly 1% down. The industrial gases supplier delivered third-quarter revenue in line with market expectations. Stellantis gained nearly 3%. STMicroElectronics and Edenred climbed 1.8% and 1.3%, respectively. In economic news, growth in the employee earnings in the U.K. stalled in the September quarter and the rate of increase is expected to fall next year as employers weigh the cost, the performance of their companies and possibly lower inflationary pressures. Median pay award forecast for the next 12 months was 3%.