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FTSE 100 movers: HSBC bucks trend as banks fall
(Sharecast News) - London's FTSE 100 was down 0.1% at 6,931.92 in afternoon trade on Wednesday. IAG was the standout gainer following reports that British Airways has secured an agreement with pilots' union Balpa in a bid to avert strikes.
HSBC was also on the front after an upgrade to 'outperform' at KBW.
Lloyds was in the red, however, along with Barclays and NatWest, following a report that Chancellor Jeremy Hunt is preparing to raid bank as well as energy profits as he looks to fill a £40bn fiscal hole.
CMC Markets analyst Michael Hewson said: "UK banking shares have struggled the most today on fears that they could be hit by a new windfall tax on top of the 8% banking surcharge they pay on top of the corporation tax rate.
"With that due to rise to 25% next year it seems there is no length that politicians will stoop to try and fill various holes in the public finances."
FTSE 100 - Risers
International Consolidated Airlines Group SA (CDI) (IAG) 118.66p 2.42% BP (BP.) 453.60p 1.88% HSBC Holdings (HSBA) 472.15p 1.37% Vodafone Group (VOD) 100.96p 1.36% Centrica (CNA) 70.14p 1.12% Pershing Square Holdings Ltd NPV (PSH) 2,700.00p 1.12% Imperial Brands (IMB) 2,014.00p 0.85% BT Group (BT.A) 127.75p 0.83% BAE Systems (BA.) 805.40p 0.83% F&C Investment Trust (FCIT) 878.00p 0.80%
FTSE 100 - Fallers
Lloyds Banking Group (LLOY) 40.73p -4.40% Dechra Pharmaceuticals (DPH) 2,598.00p -4.27% SEGRO (SGRO) 719.20p -4.18% Rightmove (RMV) 460.50p -4.16% Kingfisher (KGF) 207.30p -3.89% Land Securities Group (LAND) 512.20p -3.83% Auto Trader Group (AUTO) 512.80p -3.75% Intermediate Capital Group (ICP) 973.20p -3.64% Persimmon (PSN) 1,225.00p -3.51% Hargreaves Lansdown (HL.) 771.60p -3.43%
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