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Earnings weigh heavily on European open

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Markets are firmly in the red this morning after a swathe of disappointing earnings updates coming from some of the biggest firms in Europe. Lloyds Banking Group in the UK is 7 lower after finding itself in a loss for the first half of 2020, Volkswagen followed suit and also slashed its dividend, it is over 4 lower. One bright spot is AstraZeneca, the companys share price has soared this year, making it the UKs most valuable firm. It posted better than expected second quarter sales and rose 2 on the day.