LIVE MARKETS-Europe before the bell: Positive tone fades

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EUROPE BEFORE THE BELL: POSITIVE TONE FADES

The optimism from the first trading day of the week looks set to ebb away on Tuesday with futures pointing to a lower open before key risk events later in the week, including rate decisions from the ECB and the Fed.

There has been a raft of earnings this morning, with results from HSBC HSBA.L, Porsche P911_p.DE, Novartis NOVN.S and Orange ORAN.PA, among others, hitting the tape. HSBC shares are called to open lower after its third-quarter revenue missed estimates, and its Hong Kong-listed shares 0005.HK are down 5.6%.

Euro STOXX 50 futures are down about 0.6%, after the index rose 0.8% on Monday. Futures on the DAX , CAC and FTSE are down 0.4% to 0.6%.

Markets are also still watching oil prices with Brent crude futures trading close to their highest level since late April.

(Samuel Indyk)

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