Markets

FTSE 100 Modestly Lower On Covid Worries

(RTTNews) - U.K. stocks edged lower on Tuesday as coronavirus-related worries as well as widespread uncertainty over the U.S. presidential election outcome overshadowed HSBC's relatively strong results.

The benchmark FTSE 100 slipped 12 points, or 0.2 percent, to 5,780 after declining 1.2 percent on Monday.

easyJet fell 1.2 percent after the airline confirmed the sale and leaseback of nine aircraft with two counterparties.

Miner Anglo American fell over 1 percent and Glencore lost 2.2 percent after data showed profits at China's industrial firms rose at a slower pace in September.

HSBC Holdings jumped 6.3 percent. After reporting a 35 percent fall in quarterly profit, the bank said it would embark on a pandemic-induced overhaul of its business model.

Oil major BP Plc advanced 1.5 percent after narrowly avoiding a third-quarter loss.

Rolls Royce Holdings gained 1.2 percent. As per a report published in the Financial Times, the company is planning new cost cutting actions which include: temporarily close factories; reduce benefits; and cut working hours.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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