🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

European stocks struggle as miners lead declines

Published 27/10/2020, 09:37
© Reuters.
UK100
-
DE40
-
HSBA
-
BP
-
CAPP
-
STOXX
-
SXAP
-
SXPP
-

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
Oct 27 (Reuters) - European stocks slipped on Tuesday after
sharp declines in the previous session, as weakness in miners
and automakers offset upbeat results from UK blue-chip companies
HSBC and BP .
The pan-European STOXX 600 index .STOXX slipped 0.1% by
0820 GMT after closing at a one-month low on Monday, while the
German DAX .GDAXI was down 0.2% after hitting a four-month
low.
UK's FTSE 100 .FTSE was boosted by a 5.6% jump in Europe's
biggest bank HSBC HSBA.L after the lender signalled a
pandemic-induced overhaul of its business model, accelerating
plans to shrink in size and slash costs. BP BP.L rose 1.6% as it swung back to a small profit in
the third quarter. Among euro zone companies, French consulting and IT services
provider Capgemini CAPP.PA jumped 5.7% after it confirmed its
full-year targets. But miners .SXPP and automakers .SXAP fell more than 1%,
dragging markets lower. Data showed profits at China's
industrial firms rose at a slower pace in September, hurt by
factory-gate deflation and rising raw materials costs.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.