Mining, energy stocks push FTSE 100 higher; HSBC slides

Mining, energy stocks push FTSE 100 higher; HSBC slides

PHOTO FILE: Canary Wharf stands in London, Britain December 27, 2020. REUTERS / Simon Dawson / File Photo


Reuters employees

(Reuters) – The London FTSE 100 surfaced on Tuesday, as commodity prices rose, mining and energy stocks rose, while HSBC fell after the lender dropped its long – term profit targets.

The FTSE 100 heavy goods rose 0.7 by 0813 GMT, with increases from oil producers BP and Royal Dutch Shell, which monitored gains in crude prices. [O/R]

Shares of Anglo American miners, Rio Tinto and BHP Group were also among the largest increases on the index.

Travel and leisure stocks jumped 2.4%, winning for just a second day as Prime Minister Boris Johnson unveiled a map out of the lock for England.

The FTSE 250 mid-cap rose 0.7%, led by industry and consumer selective stock.

HSBC Holdings PLC fell 1% after announcing a revised strategy, focusing specifically on wealth management in Asia as the COVID-19 crisis pushed the lender’s annual profit significantly lower.

Shares of InterContinental Holiday Inn Hotels rose 3.2%, despite posting annual losses, caused by repeated COVID-19 restrictions and lock-ins.

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