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Brussels, October 27 (QNA) – European stocks opened lower on Tuesday, weighed down by losses in banking shares, as investors awaited corporate earnings and monetary policy decisions expected this week.
The pan-European STOXX 600 index fell 0.2 percent to 639.64 points, while France’s CAC 40 index declined 0.23 percent and Germany’s DAX index fell 0.12 percent.
The UK’s FTSE 100 index also recorded a decline of 0.82 percent.
HSBC shares fell 6.9 percent after Europe’s largest bank reported revenue below expectations, partly due to slower growth in its wealth management business. This pushed the European banking sector index down 1.3 percent.
Investors are awaiting monetary policy decisions from the US Federal Reserve and the European Central Bank, alongside earnings results from major technology companies, amid interest in the value of massive spending on artificial intelligence technologies and their ability to deliver the expected returns. (QNA)
