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Feb. 22, 2021, 6:51 a.m. EST

HSBC rises on report it’s about to exit U.S. retail as FTSE 100 reverses

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By Steve Goldstein

HSBC Holdings was one of the few advancers in London trade on Monday, with the banking giant rising on a report it is about to exit from the retail U.S. market.

HSBC /zigman2/quotes/203901799/delayed UK:HSBA +0.22% shares rose as much as 1.5% in a declining market, as the Financial Times and Bloomberg reported the bank is about to scrap the U.S. retail bank operation while moving more top executives to Hong Kong from London and expanding more in Singapore.

HSBC results will be released ahead of the Hong Kong market open on Tuesday.

The FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.85% more broadly dropped 0.7%, about in line with other global stock markets, amid increasing investor fears about inflation.

With U.K. Prime Minister Boris Johnson set to announce England’s plan for coming out of its COVID-19 lockdown, airlines including Wizz Air /zigman2/quotes/210449062/delayed UK:WIZZ +1.56% and easyJet /zigman2/quotes/202825892/delayed UK:EZJ +0.39% rose, with movie-theater chain operator Cineworld /zigman2/quotes/206525056/delayed UK:CINE -1.80% also gaining ground.

Stocks that have done well during the pandemic, including supermarket delivery company Ocado /zigman2/quotes/207225647/delayed UK:OCDO +1.03% and food delivery service Just Eat Takeaway /zigman2/quotes/216303066/delayed UK:JET +2.59% , lost ground.

/zigman2/quotes/203901799/delayed
UK : U.K.: London
401.60 p
+0.90 +0.22%
Volume: 8.62M
July 23, 2021 4:35p
P/E Ratio
18.31
Dividend Yield
2.72%
Market Cap
£82.03 billion
Rev. per Employee
£257,711
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,027.58
+59.28 +0.85%
Volume: 426,695
July 23, 2021 4:52p
loading...
/zigman2/quotes/210449062/delayed
UK : U.K.: London
4,550.00 p
+70.00 +1.56%
Volume: 194,637
July 23, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
£4.69 billion
Rev. per Employee
£166,524
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/zigman2/quotes/202825892/delayed
UK : U.K.: London
813.80 p
+3.20 +0.39%
Volume: 1.62M
July 23, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£3.70 billion
Rev. per Employee
£214,929
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/zigman2/quotes/206525056/delayed
UK : U.K.: London
63.40 p
-1.16 -1.80%
Volume: 6.82M
July 23, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£870.48 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/207225647/delayed
UK : U.K.: London
1,868.50 p
+19.00 +1.03%
Volume: 645,368
July 23, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
£13.83 billion
Rev. per Employee
£125,244
loading...
/zigman2/quotes/216303066/delayed
UK : U.K.: London
6,102.00 p
+154.00 +2.59%
Volume: 156,639
July 23, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
£12.93 billion
Rev. per Employee
N/A
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