Live news: Palo Alto Networks shares fall 25% after revenue warning

Big movers on the European equity markets on Wednesday include banking group HSBC, coffee maker JDE Peet’s, supermarket chain Carrefour and metals trader Glencore.

HSBC: Shares in the bank dropped 7 per cent after it unveiled a $3bn charge on the value of its stake in a Chinese bank and a further writedown on commercial real estate.

JDE Peet’s: The owner of the Douwe Egberts and Kenko coffee brands said that organic sales growth this year would come in at the lower end of its medium term target range of 3 to 5 per cent, sending its shares down 4.2 per cent.

Glencore: Shares in the metals group fell 6.2 per cent after it cut payouts to shareholders in a bid to reduce debt.

Carrefour: The France-based supermarket chain said after the market closed on Tuesday that it would increase its dividend and launch a share buyback, pushing its shares up 3 per cent on Wednesday morning.