European shares drop, eyes on US midterm election results

European shares fell on Wednesday, though gains by Germany’s Printage limited losses, while investors awaited the results of the US midterm elections to see the course of US policy.

The pan-European Stoxx 600 index was down 0.2 percent by 0813 GMT.

Shares in Printage Chemical Distribution rose 1.6 percent after posting better-than-expected profits in the third quarter and announcing that the company could balance European and global supply chains with Europe affected by rising energy costs.

With the US congressional elections heated up, markets expect Republicans to make gains, an outcome likely to curb Democrats’ spending and bases, but which will spark a heated battle over raising the US debt ceiling next year.