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FTSE 100 slips as HSBC sparks sell-off in banking stocks

Published 28/10/2019, 09:23
© Reuters.  FTSE 100 slips as HSBC sparks sell-off in banking stocks
UK100
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HSBA
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FTMC
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(For a live blog on European stocks, type LIVE/ in an Eikon

news window)

* FTSE 100 down 0.4%, FTSE 250 flat

* HSBC falls after profit miss

* Brexit uncertainties drag on

Oct 28 (Reuters) - A sell-off in financial stocks following

an underwhelming earnings update from HSBC kept UK shares in the

negative territory on Monday, while confusion around a potential

delay to Brexit and a snap election lingered.

The bluechips .FTSE were 0.4% lower by 0806 GMT, with HSBC

HSBA.L responsible for more than half of the index's fall,

while the FTSE 250 .FTMC was largely unchanged.

HSBC HSBA.L slumped 3%, heading for its worst day in eight

months, as its third-quarter profit missed market expectations

amid ongoing macro-economic uncertainties including the

Sino-U.S. trade war, Brexit and the Hong Kong protests.

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