Speakers from Touchstone Exploration, Shanta Gold, Savannah Resources and Kavango Resources feature in our Natural Resources webinar on May 25th. Please register here.

Less Ads, More Data, More Tools Register for FREE

FTSE 100 movers: HSBC surges; Rolls-Royce slides again

Mon, 28th Sep 2020 14:18

(Sharecast News) - London's FTSE 100 was up 1.7% at 5,942.13 in afternoon trade on Monday.

HSBC was the top performer after its biggest shareholder, China's Ping An Asset Management, lifted its stake in the bank. Ping increased its stake to 8% from 7.95% despite escalating tensions between the US and China.

A spokesperson from Ping told Bloomberg that it remains confident in HSBC's long-term prospects and that the recent drop in the share price and valuation only increases HSBC's appeal.

Lloyds, NatWest, Standard Chartered and Barclays also gained.

Property stocks Land Securities and British Land were both up as FTSE 250 peer Great Portland Estates surged after private equity firm KKR bought a stake in the property company. According to a regulatory filing out late on Friday, KKR has taken a 5.35% stake.

The news provided a much-needed boost, with property stocks having taken a big hit from the coronavirus pandemic as tenants struggle to pay their rents due to store closures, while a push to home working has affected office spaces.

On the downside, engine maker Rolls-Royce slid. CMC Markets analyst Michael Hewson said: "The constant procrastination over a £2.5bn rights issue continues to batter Rolls Royce share price, as speculation over a deep discount prompts further weakness.

"More stories in the weekend press after last week's reports that the Kuwait Investment Office was interested in taking a stake have seen the share price take another dive amidst speculation that the issue could be priced at £1 a share."

FTSE 100 - Risers

HSBC Holdings (HSBA) 309.40p 9.19%
Land Securities Group (LAND) 530.00p 8.08%
Diageo (DGE) 2,695.00p 6.88%
Lloyds Banking Group (LLOY) 26.37p 6.69%
NATWEST GROUP PLC ORD 100P (NWG) 106.25p 6.66%
British Land Company (BLND) 343.20p 6.58%
Legal & General Group (LGEN) 188.85p 6.10%
Standard Chartered (STAN) 357.00p 6.00%
Barclays (BARC) 96.86p 5.80%
Standard Life Aberdeen (SLA) 220.40p 5.51%

FTSE 100 - Fallers

Rolls-Royce Holdings (RR.) 146.25p -5.49%
Kingfisher (KGF) 289.90p -2.03%
GVC Holdings (GVC) 984.40p -1.40%
International Consolidated Airlines Group SA (CDI) (IAG) 93.78p -0.91%
Admiral Group (ADM) 2,665.00p -0.86%
Hikma Pharmaceuticals (HIK) 2,556.00p -0.54%
GlaxoSmithKline (GSK) 1,466.80p -0.52%
Rio Tinto (RIO) 4,713.00p -0.42%
Flutter Entertainment (FLTR) 12,655.00p -0.20%
Vodafone Group (VOD) 103.72p -0.08%



More News

IN BRIEF: Cineworld receives USD255 million judgement for Regal claim

IN BRIEF: Cineworld receives USD255 million judgement for Regal claim

Today 19:18

LIVE MARKETS-When looking at valuations, investors have sticker shock

* U.S. indexes advance; Nasdaq gaining ~2%, chip index up ~3%* All major S&P 500 sectors green: energy, tech lead* Dollar falls; gold, crude rise; Bitcoin back over $50k* U.S. 10-Year Treasury yield ~1.65% Welcome to the home for real-time coverage...

Today 18:54

LIVE MARKETS-In the final stretch of earnings, it's retailers

* U.S. indexes up, led by Nasdaq* All major S&P 500 sectors green: energy, tech lead* Euro STOXX 600 index ends up ~1.2%* Dollar falls; gold, crude gain; Bitcoin back over $51k* U.S. 10-Year Treasury yield ~1.65% Welcome to the home for real-time co...

Today 18:30

UPDATE: Indian variant could pose "serious disruption" - UK PM Johnson

UPDATE: Indian variant could pose "serious disruption" - UK PM Johnson

Today 18:30

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.