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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

FTSE 100 movers: HSBC bucks trend as banks fall

Wed 19 Oct 2022 15:28

(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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