Soft start, FTSE dragged lower by HSBC
EWU•European shares fell, with the STOXX 600 down 0.4% and the FTSE 100 down 1% as HSBC shares slid more than 7% after third-quarter results.
1. European shares decline
European shares fell on Tuesday, erasing some of the previous day's gains as oil prices edged higher and earnings weighed. The STOXX 600 was down about 0.4%, with roughly three-quarters of its companies trading lower.
2. HSBC weighs on FTSE
HSBC shares fell more than 7% after disappointing third-quarter results. The decline accounted for almost two-thirds of the FTSE 100's 1% drop. The DAX was down 0.2% and the CAC 40 fell 0.3%.
3. Besi shares rise
BE Semiconductor shares gained 8% after U.S. peer Applied Materials said it planned to increase its stake in the company to 20%. Wall Street futures were lower.
