London midday: FTSE 100 adds more gains as HSBC impresses

The leading share index is approaching triple-digit gains now with company updates driving shares higher.The FTSE 100 got off to a strong start and was boosted further by results from HSBC, which updated after the open.The banking giant unveiled a rise in profits and announced plans to cut up to 30,000 jobs. Pre-tax profits for the half year climbed by 3% from the same period the previous year, with strong performances from the retail banking and wealth management divisions, which benefited from fewer impairments, driving profits higher. Testing and inspections firm Intertek is going well after revenue in the first half of 2011 rose 17%. "Our businesses continue to perform well overall, with strength in some areas offsetting slower growth in others," said Wolfhart Hauser, chief executive of Intertek.Net rental income at retail-focused real estate group Hammerson came in 2.8% higher, +3.9% on a like-for-like basis, driven by lettings and rent reviews in the UK and indexation in France. The stock is building decent gains today.Sentiment has been boosted by the US debt saga apparently nearing a resolution after President Barack Obama and congressional leaders agreed on a deal to put before Congress that will cut an initial $1trn from federal government deficit expenditure, growing to more than $2trn over 10 years. The miners were among the best performers, with Kazakhmys, Vedanta Resources, Rio Tinto, BHP Billiton and Antofagasta rising higher.In UK economics, fresh concerns over the strength of the UK economic recovery were signalled by the Confederation of British Industry (CBI), which said it now forecasts gross domestic product (GDP) to rise by 1.3% in 2011, down from an initial estimate of 1.7% growth. The comments come after the Office for National Statistics revealed last week that GDP rose by just 0.2% in the second quarter.The big mover in early trading was on the FTSE 250: Punch Taverns. Shares in the pub operator were over 80% lower after the completion of the demerger of its 'Spirit' business to Spirit Pub Company.Outsourcing behemoth Serco has signed a new hospital services contract, worth A$1.3bn (£850m), in Australia. FTSE 100 - RisersIntertek Group (ITRK) 2,032.00p +6.11%HSBC Holdings (HSBA) 619.50p +4.21%Tullow Oil (TLW) 1,270.00p +3.25%Whitbread (WTB) 1,606.00p +3.21%ITV (ITV) 72.10p +3.07%Hargreaves Lansdown (HL.) 587.00p +2.98%Hammerson (HMSO) 479.50p +2.94%Aviva (AV.) 409.60p +2.71%Burberry Group (BRBY) 1,530.00p +2.41%Capital Shopping Centres Group (CSCG) 381.80p +2.25%FTSE 100 - FallersRandgold Resources Ltd. (RRS) 5,500.00p -0.99%BAE Systems (BA.) 301.60p -0.79%Next (NXT) 2,364.00p -0.46%Inmarsat (ISAT) 538.00p -0.37%Fresnillo (FRES) 1,754.00p -0.34%Lloyds Banking Group (LLOY) 43.23p -0.29%Royal Bank of Scotland Group (RBS) 35.64p -0.14%Rolls-Royce Group (RR.) 652.50p 0.00%British Sky Broadcasting Group (BSY) 713.00p +0.14%IMI (IMI) 1,052.00p +0.19%FTSE 250 - RisersBarratt Developments (BDEV) 101.80p +3.35%Greggs (GRG) 527.00p +3.33%WH Smith (SMWH) 523.50p +3.15%Bellway (BWY) 679.50p +2.95%Telecity Group (TCY) 569.00p +2.89%Premier Oil (PMO) 417.60p +2.86%Great Portland Estates (GPOR) 428.00p +2.84%Perpetual Income & Growth Inv Trust (PLI) 269.40p +2.82%Taylor Wimpey (TW.) 36.29p +2.69%Afren (AFR) 143.90p +2.57%FTSE 250 - FallersPunch Taverns (PUB) 15.00p -76.40%Laird (LRD) 163.50p -12.89%Kofax (KFX) 333.00p -8.01%Ocado Group (OCDO) 163.20p -4.17%Sports Direct International (SPD) 255.50p -3.91%African Barrick Gold (ABG) 509.00p -3.69%SThree (STHR) 351.10p -2.55%Fidessa Group (FDSA) 1,792.00p -2.40%Domino Printing Sciences (DNO) 650.50p -2.03%Telecom Plus (TEP) 676.00p -2.03%