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The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
May 8, 2025 DOWNLOAD
investment-ss-3
Economic Updates
Policy rate views: Uncertainty stalls cuts
May 8, 2025 DOWNLOAD
grocery-2-aa
Economic Updates
Inflation Update: BSP poised for a string of rate cuts as inflation cools
May 6, 2025 DOWNLOAD
View all Reports
Economy 2 MIN READ

London stocks kick off May on bright note after upbeat HSBC earnings

May 2, 2023By Reuters
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May 2 (Reuters) – 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 program. The company, however, made a USD 5 billion profit in the first quarter of 2023, up from the previous three months due to strong oil and gas trading.

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.

(Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Savio D’Souza)

This article originally appeared on reuters.com

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