London’s blue-chip FTSE 100 edged higher on Tuesday, boosted by a jump in shares of HSBC after the lender’s quarterly profit tripled, though overall gains were limited by weakness in energy stocks.
The internationally-focused FTSE 100 rose 0.3% by 0710 GMT, while the mid-caps index was up 0.4%.
HSBC Holdings advanced 3.8% to the top of the FTSE 100 after its first-quarter profit topped expectations as rising interest rates worldwide boosted income and helped it pay its first quarterly dividend since 2019.
BP fell 3.6% after the oil major pared back its share buyback programme.
The company, however, made a $5 billion profit in the first quarter of 2023, up from the previous three months due to strong oil and gas trading.
London stocks rise at open as bank shares gain ahead of Fed meeting
Superdry fell 2.7% after the struggling fashion brand said it is in “positive” talks with investors regarding an equity raise of up to 20%. Meanwhile, British house prices showed signs of stabilisation in April, as per mortgage lender Nationwide.
Comments
Comments are closed.