European shares fall as Hong Kong unrest weighs

lunes 29 de septiembre de 2014 04:11 GYT

* FTSEurofirst 300 down 0.3 pct

* HSBC, Stan Chart hit by Hong Kong unrest

* Luxury sector under pressure, led by Richemont

By Francesco Canepa

LONDON, Sept 29 (Reuters) - European shares edged lower on Monday as unrest in Hong Kong hit shares exposed to the territory, such as banks HSBC and Standard Chartered , and a rising dollar pummelled miners.

Shares in HSBC, which generates a large proportion of its profit in Hong Kong, fell 1.5 percent as riot police advanced on pro-democracy protesters in the worst unrest since China took back control of the former British colony two decades ago. HSBC's shares are still up nearly 10 percent since mid-July.

Standard Chartered fell 1.7 percent after saying it had suspended some of its Hong Kong banking operations, including over-the-counter services and cheque deposits, until further notice due to "situations in certain areas".

"I'd sell HSBC after its outperformance," Justin Haque, a broker at Hobart Capital Markets said.

"This (Hong Kong) is another layer that adds to a gloomy outlook for October," he added.   Continuación...