off-the-wire

European shares open lower as HSBC weighs

Kitco Media
By Reuters
Published:
Updated:
Reuters
(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) Feb 21 (Reuters) - European shares opened lower on Tuesday as cautious forecast from HSBC weighed down the main STOXX 600 index, while shares of French energy company Engie helped stem some declines following higher annual profits.


The continent-wide STOXX 600 index dipped 0.2% by 0806 GMT. Investors were also eyeing the release of minutes on Wednesday from the Federal Reserve's latest policy meeting.


Europe's biggest bank HSBC Holding Plc fell 1.2% as the lender's cautious outlook left investors pondering whether a boost from higher interest rates may have already peaked, despite quarterly profit surging 92%.


French energy company Engie SA rose 4.1% after reporting a sharp increase in profits for 2022, thanks to higher natural gas and power prices following Russia's invasion of Ukraine.


Shares of Engie boosted the European utilities sector index 0.3%, making it the top gainer for the day. Developments in Ukraine were back in focus, ahead of a speech by Russian President Vladimir Putin to set out the aims for the second year of his invasion. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Nivedita Bhattacharjee)

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