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Article: LONDON MARKET.(Business)
- Article from:
- Daily Post (Liverpool, England)
- Article date:
- November 11, 2009
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HSBC and Barclays enjoyed contrasting fortunes yesterday in a busy session for the banking sector which saw Lloyds Banking Group announce 5,000 job cuts.
Despite solid updates from the duo, Barclays shed 5% after its investment banking performance fell short of some analysts' expectations, but HSBC added 4% after better news on bad debts.
The wider FTSE 100 Index edged 4.6 points lower to 5230.6 after Monday's near-2% gain, with US markets pausing for breath after the Dow Jones Industrial Average hit a new high for the year.
HSBC led the London market higher, adding 27.8p to 720p after cheering investors with results "significantly ahead" in the ...