LIVE MARKETS-STOXX muted but still setting new records

The STOXX 600 nudged up to a new record high in early trading as threatened, but it's been a broadly muted first hour or so of trading with the broad index up 0.2%, and most national benchmarks in similar territory.

On the positive side of the ledger is the optimism around the Strait of Hormuz, even if that optimism has been threatened by the Houthis saying they attacked a Saudi vessel in the Red Sea, pushing Brent back above $80 a barrel.

On the negative side are falls from a couple of heavyweights.

Novo Nordisk NOVOb.CO is down 4.2% after it posted disappointing sales of its Wegovy pills, which overshadowed a huge beat in overall Q2 results. Meanwhile HSBC HSBA.L shares are falling nearly 3% a day after its results and as investors process some of the sellside commentary.

Citi, for example, has downgraded the stock to neutral, saying while the stock has performed very well year to date, "For a further re-rating from here ... one needs to believe in a period of more rapid top-line growth and while there are some encouraging signs, we believe this will take time to materialise."

Miners .SXPP are the biggest gainers, up 1.8% helped by decent results from Glencore GLEN.L up 4%.