* FTSE 100 edges up 0.2 percent
* Technical buying buoys index after sharp drop
* Intertek up after dividend hike
* HSBC results due out at 0815 GMT
By Francesco Canepa
LONDON, Aug 4 Britain's top share index halted a
three-day losing streak on Monday, helped by technical buying
after it climbed above a major support level at the end of last
week and closed off its lows, suggesting the slide was set to
Attention was on HSBC, expected to report falling
revenues in a pared-down business and lower income from Latin
America and investment banking when it reports its first-half
results at 0815 GMT. Its shares eased 0.2 percent.
Shares in Intertek rose 0.5 percent as the company raised
its interim dividend by 6.7 percent to 16 pence per share and
said it was on track to deliver single digit organic revenue
Despite a second-quarter reporting season that has seen 53
percent of the 108 companies in the STOXX Europe 600 reporting
estimate-beating earnings, according to StarMine data, shares
across the region fell sharply last week.
Investor appetite has been sapped by the prospect of a
tightening in U.S. monetary policy following strong data, as
well as by geopolitical concerns ranging from tensions between
Russia and the West over Ukraine to Israel's shelling of Gaza.
By 0800 GMT, Britain's FTSE 100 was up 7 points, or
0.1 percent, at 6,686 points, steadying after a 1.7 percent drop
last week. The index climbed above its 52-week moving average of
6,670 points on Friday.
Charles Stanley's technical analyst Bill McNamara, however,
expects the downtrend to resume soon.
"The index does look set to rebound somewhat today but I'm
becoming concerned about its loss of momentum over recent
sessions," McNamara said.
"I remain very cautious on the UK market at the moment and
my own sense is that we are going to see further weakness before
we see it back up towards the high."
Among mid-caps, engineer Balfour Beatty rose 2
percent as the Sunday Telegraph reported UK engineering firm WS
Atkins and Canada's WSP Global are vying for
control of its engineering and design business.
(Reporting by Francesco Canepa; Editing by Louise Ireland)