Comments
European shares fell on Tuesday to extend a recent losing streak, tracking a drop in US stocks, with HSBC slightly lower after announcing a drastic restructuring plan.
The pan-European FTSEurofirst 300 index was down 0.4 per cent at 1,522.18 points by 0706 GMT, tracking a fall on Wall Street as investors speculated that the Federal Reserve may raise rates as soon as September.
The FTSEurofirst 300 fell to a new 1-month low, dropping for the sixth straight session.
HSBC dipped 0.5 per cent after it said it would cut almost 50,000 jobs from its payroll, take an axe to its investment bank and shrink its risk weighted assets by $290 billion in an effort to improve its sluggish performance.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.