European shares open sideways as earning roll in, Spain rebounds

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LONDON, Oct (Shenzhen: 000069.SZ - news) 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 (Amsterdam: CB6.AS - news) and Banco de Sabadell, shares in which rose 4.2 percent and 3.6 percent respectively.

Spain's state-owned lender Bankia (Amsterdam: QU8.AS - news) , 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 (Frankfurt: 8GC.F - news) 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 (IOB: 0QLR.IL - news) slipped 0.7 percent after offering to buy France's Advanced Accelerator Applications (AAA) in a $3.9 billion cash deal.