European stocks pare gains
Thursday, 15 November 2007
LONDON, Nov 14 (Reuters): European shares surrendered part of the day's gains by mid-day Wednesday after US stock index futures dipped and banks pared their early advance.
HSBC added 2.0 per cent after its third-quarter profit came in ahead of a year ago and its trading update reassured investors it had not suffered the significant writedowns on US risky mortgage-backed debt as had some of its rivals.
Other banking shares were also below the day's highs.
December S&P futures and Nasdaq futures all shed 0.10 per cent, a day after stocks surged Tuesday and snapped a four-day losing streak.
By 1155 GMT, the pan-European FTSEurofirst 300 index was up 0.40 per cent at 1,522.9, but below an intra-day high of 1,535.7.
HSBC added 2.0 per cent after its third-quarter profit came in ahead of a year ago and its trading update reassured investors it had not suffered the significant writedowns on US risky mortgage-backed debt as had some of its rivals.
Other banking shares were also below the day's highs.
December S&P futures and Nasdaq futures all shed 0.10 per cent, a day after stocks surged Tuesday and snapped a four-day losing streak.
By 1155 GMT, the pan-European FTSEurofirst 300 index was up 0.40 per cent at 1,522.9, but below an intra-day high of 1,535.7.