HSBC pulls European shares lower; luxury stocks in focus

- European shares retreated on Monday as a glum profit outlook from the region’s largest lender HSBC offset gains in trade-sensitive sectors buoyed by positive developments on the U.S.-China trade front.

The pan-European STOXX 600 index fell 0.2% at 0935 GMT with the banking index .SX7P leading the losses. Another disappointment among banks was Spain’s Bankia , down 3%, after the state-owned lender posted a 23% drop in third-quarter net profit as it struggles to increase margins from lending because of ultra-low interest rates.

Defensive plays like utility .SX6P and telecom .SXKP stocks lost between 0.4% and 0.7% as appetite for riskier sectors rose on the day.

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

HSBC CFO says to expect 'material action' against struggling business unitsThe bank is looking at ways to reshape its non-ring-fenced bank in the United Kingdom and its U.S. business, HSBC Group CFO Ewen Stevenson said.
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