Feb 21, 2017
FTSE 100 dips as HSBC shares slide
Shares in HSBC were down 6.6% shortly after midday. Profits fell 62% to $7.1bn and its planned share buyback of $1bn fell well short of hopes of $2.5bn-$3bn. The benchmark FTSE 100 index was down 5.09 points at 7,294.77. Intercontinental Hotels Group rose 0.3% after it announced plans to pay out $400m via a special dividend. The top riser on the FTSE 100 was Rolls-Royce, as investors continued to react to Goldman Sachs upgrading its rating on the shares to "Buy". On the currency markets, the pound fell 0.5% against the US dollar to $1.2404 but rose 0.3% against the euro to 1.1777 euros.
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