This post was originally published on this site
Commuters wearing face masks travel on a tram past HSBC signage displayed outside the banks local headquarters in Hong Kong on April 28, 2020.
anthony wallace/Agence France-Presse/Getty Images
European stocks opened the month with a slight decline, as banking giants HSBC Holdings and Societe Generale revealed how hard the pandemic hit financial results.
Up 1.1% in July, the Stoxx Europe 600 SXXP, -0.19% slipped 0.3% on Monday.
The German DAX DAX, +0.65% rose while the French CAC 40 PX1, -0.41% and U.K. FTSE 100 UKX, -0.66% nursed declines.
U.S. stock futures ES00, -0.06% eased after a 5.5% gain for the S&P 500 SPX, +0.76% in July.
Economic data showed how far the recovery has progressed. The Caixin China manufacturing purchasing managers index rose to 52.8 in July, with the best readings for output and new orders since January 2011. Spain’s manufacturing PMI rose to 53.5, its best showing since April 2018. The U.S. economics calendar includes the Institute for Supply Management’s manufacturing index and a number of non-voting Federal Reserve officials speaking.
Of companies in the spotlight, HSBC Holdings HSBA, -4.79% HSBC, -0.48% dropped after reporting a 77% drop in first-half net profit.
Societe Generale GLE, -2.43% declined after reporting a 1.26 billion euro loss for the second quarter.
Siemens Heathineers SHL, -5.23% slipped 5% after reaching a deal to buy radiation therapy software company Varian Medical Systems VAR, +3.18% for $16.4 billion. Siemens SIE, +0.88% said its stake in Siemens Heathineers will fall to 72% from 85% as part of the fundraising for the deal.
Morphosys MOR, +5.88% MOR, -2.16% jumped after getting accelerated approval from the U.S. Food and Drug Administration for a lymphoma drug.
