FTSE 100 Gains, Led by Mining And Energy Shares
October 25 2021 - 4:01AM
Dow Jones News
FTSE 100 Gains, Led by Mining And Energy Shares
0731 GMT - The FTSE 100 rises 0.3% to 7227 points with mining
and energy shares leading the gains. Miners BHP Group, Antofagasta
and Glencore rally along with energy giants BP and Royal Dutch
Shell, boosted by higher prices of copper and oil. HSBC shares
climb 0.6% after the bank posted a 74% jump in third-quarter
pre-tax profits and announced a share buyback of up to $2 billion.
"The numbers are flattered by further bad debt releases, in what
will be the likely theme of the season, but the announcement of a
share buyback programme is a positive endorsement of the bank's own
confidence in prospects," Interactive Investor analyst Richard
Hunter says. (renae.dyer@wsj.com)
Companies News:
HSBC Says It Will Buy Back $2 Billion in Stock as Profit
Jumps
Global banking giant HSBC Holdings PLC said it would buy back up
to $2 billion in stock after its third-quarter net profit jumped,
as the lender released more provisions it had previously made for
bad loans.
---
The Co-operative Bank Shows Interest in Acquiring TSB From
Sabadell -Sky News
The Co-operative Bank has approached Spain's Banco de Sabadell
SA, TSB's owner, about a merger, Sky News says.
---
Tullow Oil Taps Phuthuma Nhleko as Incoming Chairman
Tullow Oil PLC said Monday that it has appointed Phuthuma Nhleko
as an independent nonexecutive director and chairman-designate,
taking over from Chairman Dorothy Thompson by the end of the
year.
---
Botswana Diamonds Raises GBP550,000 in Placing to Fund
Exploration
Botswana Diamonds PLC said Monday that it has undertaken a
company-arranged placing, raising 550,000 pounds ($756,690) through
a share issue to fund exploration activities.
---
Plus500 3Q Results Resilient; FY Revenue, Ebitda Seen Beating
Market Views
Plus500 Ltd. said Monday that revenue for the third quarter of
2021 was resilient and significantly above pre-pandemic levels, and
that the board expects both full-year revenue and Ebitda to beat
market views.
---
DP Poland 1H Pretax Loss Widened
DP Poland PLC said Monday that its pretax loss for the first
half widened after booking higher costs, and that it expects to be
cash generative during the fourth quarter.
Market Talk:
HSBC 3Q Pretax Profit Beat to Drive Earnings Upgrades
0718 GMT - HSBC Holdings' more-than-doubled net profit and
strong pretax profit for 3Q, which were ahead of market
expectations for the period, should drive earnings upgrades,
Goodbody UK says. The bank's capital beat and the $2 billion
buyback will also be pleasing to investors, Goodbody says. HSBC did
flag inflationary pressures and continued investment requirements,
but investors will likely focus on the bank's key metrics, the U.K.
brokerage says. Shares in London are up 0.4% at 436.45 pence.
Contact: London NewsPlus, paul.larkins@wsj.com
(END) Dow Jones Newswires
October 25, 2021 03:46 ET (07:46 GMT)
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