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Market Update

European Stocks Head Lower; Earnings Eyed

Aug 2, 2011

Equities in Europe climbed lower early Tuesday, tracking losses in Asia and on Wall Street overnight, with several key companies reporting earnings.

At the time of writing, Britain's FTSE, France's CAC and Germany's DAX were trading between 0.4% and 0.9% lower.

Financial shares remained in focus with Barclays rising 0.4% following its results while BNP Paribas fell 1.6% after its numbers. Peers Credit Agricole, Deutsche Bank and Societe Generale were off 0.8% to 1.2%.

Mining shares also fell after Xstrata, down 2.3%, and Fresnillo, off 0.6%, posted earnings updates. BHP Billiton, Rio Tinto, Kazakhmys and Antofagasta dropped between 1.2% and 2.6%.

Shares in financial-services firm Hargreaves Lansdown plunged 7.4% after the U.K. regulator expressed its intention to ban brokers from receiving payments from fund managers.

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