The FTSE 100 has soared 1.98% this morning as HSBC more than doubled pre-tax profit to £7bn.
London's top index of shares has climbed 104 points to 5,362.10, with bank shares leading the way. HSBC has advanced 4.47% to 674.9 after reporting a pre-tax profit of $11.1bn (£7bn), an increase of 121% compared with the first half of 2009. This week, the big five banks should collectively report interim profits of around £8.4bn. The news boosted other financials with Lloyds gaining 5.1% to 72.79p while RBS rose 5.08% to 52.50p. Elsewhere, developer Hammerson advanced 2.09% to 396.50p after posting a 7% rise in half year profits to £70.2m. Intertek Group is the biggest ris...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
