© 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.
Disclaimer: Fusion Media would like to remind you that the information contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indices, futures) and forex prices are not provided by exchanges, but by market makers. Therefore, prices may not be accurate and may differ from the actual market price. This means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trading losses you may incur as a result of using this data.
Fusion Media or any person involved with Fusion Media assumes no liability for any loss or damage caused by reliance on the information contained on this website, such as data, offers, charts and buy / sell signals. Please inform yourself comprehensively about the risks and costs associated with trading in the financial markets. This is one of the riskiest forms of investment possible.