On Tuesday european stocks slipped after sharp declines in the previous session, as weakness in miners and automakers offset upbeat results from UK blue-chip companies HSBC and BP.
The pan-European STOXX 600 index slipped 0.1% by 0820 GMT after closing at a one-month low on Monday, while the German DAX was down 0.2% after hitting a four-month low.
UK’s FTSE 100 was boosted by a 5.6% jump in Europe’s biggest bank HSBC after the lender signalled a pandemic-induced overhaul of its business model, accelerating plans to shrink in size and slash costs.
BP rose 1.6% as it swung back to a small profit in the third quarter. Among euro zone companies, French consulting and IT services provider Capgemini jumped 5.7% after it confirmed its full-year targets.
But miners and automakers fell more than 1%, dragging markets lower. Data showed profits at industrial firms of China rose at a slower pace in September, hurt by factory-gate deflation and rising raw materials costs.