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FTSE falls below 7,700 as HSBC shares slide
The European stock markets are now open for live trade and the take away from the early moves are relative outperformance in the DAX compared to the FTSE 100. The DAX is trading above 17,100 right now and the FTSE 100 has fallen below the 7,700 handle. The main reason for that is because shares of HSBC are down more than 5% in early trading. I did warn; that the markets would not like what they saw from their Q4 results released much earlier today and that would weigh on the FTSE. So, because HSBC is a major FTSE component is has indeed weighed on the FTSE. A similar fall in mining giant, Glencore this morning is not helping either. The FTSE 100 is right now trading at around 7,675
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