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2025-10-28 16:37:23
[FTSE 100 index flat and slightly higher, strong banking stocks offset weakness in resource stocks] ⑴The FTSE 100 index flat and slightly higher on Tuesday, remaining near record highs, outperforming most European markets. ⑵HSBC led the gains in banking stocks, helping to offset weakness in commodity-related sectors. ⑶HSBC rose more than 2.5%. Despite setting aside $1.1 billion in provisions for Bernard Madoff's fraud, the bank raised its 2025 earnings guidance. ⑷Pre-tax profit in the third quarter fell 14% to $7.3 billion due to litigation costs, but revenue exceeded expectations and profits at its Hong Kong subsidiary grew 11%. ⑸The bank's current goal is to achieve a "mid-double-digit or better" return on tangible equity this year. ⑹Fresnillo and Endeavor Mining fell more than 3% due to falling gold prices, while Glencore, Rio Tinto, Shell and BP also fell as commodity prices weakened.
