European shares hover beneath file highs, HSBC edges decrease By Reuters

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© Reuters. FILE PHOTO: The DAX chart of the German share index is shown on the Frankfurt Stock Exchange on May 21, 2021. REUTERS / Staff

(Reuters) – European stocks opened flat on Thursday, with losses in energy stocks being offset by gains in the mining sector, while UK bank HSBC’s decision to exit US retail banking was warmly received.

The pan-European index remained virtually unchanged in early trading at 445.34 points and hovered just below a record high of 447.15 points on Tuesday.

Energy values ​​fell about 0.3%, tracking the decline in oil prices as concerns about Indian demand and rising Iranian supply increased.

However, losses in this sector were offset by stronger mining stocks, which rose 0.8% on better metal prices. [O/R] [MET/L]

HSBC fell 0.2% after the lender announced it was pulling out of the US retail banking business by selling some parts of the money-losing business and winding up others to focus on Asia, its largest market.

German sportswear company Puma fell 1.1% after French luxury goods company Dry (PA 🙂 said it will sell a 5.9% stake in the company through a stock placement.

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