Live Markets: Soft start, FTSE dragged lower by HSBC

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Tue 08:49

Adds new blog entry
STOXX 600 down 0.4%
HSBC shares slide 7% after results
FTSE underperforms
Wall Street futures lower
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SOFT START, FTSE DRAGGED LOWER BY HSBC
European shares are losing some ground on Tuesday, erasing some of the gains from the day before, as oil prices inched higher and earnings weighed. 
The pan-continental STOXX 600 .STOXX is down about 0.4%. Breadth is negative, with about three-quarters of companies trading in the red. 
One of those is HSBC HSBA.L, which is down over 7% after disappointing third-quarter results. Given its large weighting in the index, the fall in the company's shares accounts for almost two-thirds of the FTSE 100's .FTSE 1% drop.
Other major bourses are also in the red, with the DAX .GDAXI down 0.2% and the CAC 40 .FCHI off 0.3%. 
There are some brighter spots. BE Semi BESI.AS shares are up 8% after US peer Applied Materials AMAT.O said it plans to increase its stake in the company to 20%.
Here's your opening snapshot:
(Samuel Indyk)
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