October 30, 2017 / 8:40 AM / in a year

European shares open sideways as earning roll in, Spain rebounds

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets)

LONDON, Oct 30 (Reuters) - Spanish equities opened 1.4 percent higher on Monday, reassured by weekend demonstrations for a unified Spain and a poll showing a lead for parties opposed to Catalan independence.

Broader European shares traded sideways.

The pan-European STOXX 600 index was down 0.1 percent but Spain’s IBEX benchmark rose, led by Caixabank and Banco de Sabadell, shares in which rose 4.2 percent and 3.6 percent respectively.

Spain’s state-owned lender Bankia, which posted a 10 percent fall in third-quarter net profit as lending income remained pressured by low interest rates gained 1.1 percent.

In London, shares in HSBC fell 0.6 percent despite reporting a five-fold jump in its quarterly profits.

Glencore retreated 1.5 percent after raising its earnings guidance and a report saying it would cancel its secondary listing in Hong Kong due to lack of interest from investors.

The FTSE 100 slipped 0.2 percent at the start of a week that could see the Bank of England raise interest rates for first time since 2007.

On the mergers and acquisitions front, Swiss drugmaker Novartis slipped 0.7 percent after offering to buy France’s Advanced Accelerator Applications (AAA) in a $3.9 billion cash deal.

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