FTSE lower as HSBC shares slide on below-forecast profits
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The FTSE 100 dropped on Wednesday after a weak reaction to updates from a number of London-listed heavyweight companies including HSBC, Glencore and BAE Systems. “Meanwhile the UK public sector posted its largest surplus on record and CBI factory orders came in above expectations, both of which indicate that the current recession may turn out to be a shallow one.” In currency, the pound was down 0.07% at 1.261 US dollars and was 0.06% lower at 1.166 euro at market close in London. The company saw shares dip by 11.5p to 1,241.5p at the close Mining firm Glencore was another faller after it cut its shareholder dividend and posted lower profitability.