PremierLeague-News.Com Reopening trade in full swing on London market but HSBC drags Breaking news

PremierLeague-News.Com - UK markets were flat in early trade on Tuesday as gains from rising commodity prices, mining and energy stocks and a firm reopening trade were neutralised by weakness from banking giant HSBC (HSBA), which ditched its long-term profitability targets.

PremierLeague-News.Com Reopening trade in full swing on London market but HSBC drags Breaking news

PremierLeague-News.Com - UK markets were flat in early trade on Tuesday as gains from rising commodity prices, mining and energy stocks and a firm reopening trade were neutralised by weakness from banking giant HSBC (HSBA), which ditched its long-term profitability targets.

PremierLeague-News.Com  Reopening trade in full swing on London market but HSBC drags Breaking news
23 February 2021 - 10:00

PremierLeague-News.Com - Breaking Sport Transfer News ! UK markets were flat in early trade on Tuesday as gains from rising commodity prices, mining and energy stocks and a firm reopening trade were neutralised by weakness from banking giant HSBC (HSBA), which ditched its long-term profitability targets. At 9am, the commodity-heavy FTSE 100 benchmark was struggling to make any ground, clawing single point gains at 6,613.56. Mid-caps were much stronger, the FTSE 250 rallying more than 1% to 21,197.46 on a strong UK reopening trade. Travel and leisure stocks jumped nearly 3% in early deals, gaining for a second straight day, after Prime Minister Boris Johnson unveiled his 60-page roadmap out of lockdown dossier for England. Aero-engines maker Rolls-Royce (RR.) led the way, up more than 8% at 114.35p, with BA-owner International Consolidated Airlines (IAG) and InterContinental Hotels (IHG) also rallying, while mid-caps like airports retail business SSP (SSP), Cineworld (CINE) and Rank (RNK) surged.

News source = PremierLeague-News.Com

. That was enough to allow the bank to resume dividend payments from August at $0.15 per share, although bad debt provisions have more than trebled. The banking group also ditched previous profit targets because of the low interest rate environment while confirming that its future focus will be pointed even more towards Asia though there was no decision on the US retail banking business, where speculation had been it would shut down. Firm commodity prices saw gains for oil producers BP (BP.) and Royal Dutch Shell (RDSB), while mining stocks Anglo American (AAL), Rio Tinto (RIO) and BHP (BHP) were also among the biggest boost to the index. Shares of Holiday Inn-owner InterContinental Hotels rose nearly 4% to £55.10 despite posting an annual loss, triggered by repeated Covid-19 restrictions and lockdowns.

Source = PremierLeague-News.Com

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