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Name | Symbol | Market | Type |
---|---|---|---|
Bunzl PLC (PK) | USOTC:BZLFY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.23 | -0.48% | 47.43 | 46.91 | 48.69 | 47.92 | 47.43 | 47.85 | 13,631 | 21:08:30 |
By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- Heavyweight bank HSBC Holdings PLC led U.K. stocks south on Monday after a disappointing earnings report, while mining firms trended lower amid concerns about China's property market.
The FTSE 100 index dropped 0.4% to 6,814.18, on track to break a six-day winning run.
Shares of HSBC (HSBC) lost 3.7% after the banking major posted a profit that fell short of expectations. Full-year 2013 pretax profit for the bank rose 9% to $22.56 billion, compared with $20.65 billion a year ago. A consensus forecast of analysts polled by Bloomberg News called for a profit of $24.6 billion.
Shares of RSA Insurance Group PLC gave up 2.6% after the company scrapped plans to raise emergency funds through a small group of investors and instead will press ahead with a cash call for at least 500 million pounds ($831 million) to be asked of all shareholders, according to The Times.
On a sector basis, mining firms posted some of the biggest losses on renewed concerns about a tightening in the Chinese property market. Stubbornly high property prices have triggered worries that a fresh round of market curbs by Beijing is looming. Adding to those fears, Chinese local media said a medium-sized bank has tightened its financing to property developers because of heightened risk.
Miners are sensitive to China's construction sector as the country is a major user of natural resources. Shares of Rio Tinto PLC (RIO) dropped 1.5%, Anglo American PLC lost 1.5%, Antofagasta PLC fell 1.2%, and BHP Billiton PLC (BHP) gave up 0.7%.
On a more upbeat note, shares of Vodafone Group PLC (VOD) rallied 7.7% as a share consolidation following the sale of its Verizon Wireless stake became effective.
Shares of Bunzl PLC picked up 5.2% after the distribution and outsourcing company reported an 8% rise in 2013 earnings per share.
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