Europe: Shares hover below record highs, HSBC edges lower

[BENGALURU] European shares opened flat on Thursday, with losses in energy stocks offset by gains in the mining sector, while British bank HSBC's decision to exit US retail banking was met with a lukewarm reception.

The pan-European Stoxx 600 index was almost unchanged at 445.34 points in early trading, hovering just below a record high of 447.15 hit on Tuesday.

Energy stocks fell about 0.3 per cent, tracking declines in oil prices as concerns over Indian demand and increasing Iranian supplies weighed.

But losses in the sector were offset by stronger mining stocks, which rose 0.8 per cent on better metal prices.

HSBC fell 0.2 per cent after the lender said it was withdrawing from US retail banking by selling some parts of the money-losing business and winding down others to focus on Asia, its biggest market.

German sportswear firm Puma fell 1.1 per cent after French luxury goods group Kering said it will sell a 5.9 per cent stake in the firm through a share placement.

REUTERS