Britain's FTSE 100 falls as HSBC drags banks lower
EWU•The FTSE 100 fell 0.76% to 10,685.18 points, with HSBC down 7% after quarterly revenue of $18.6 billion missed analysts' estimates of $19 billion. The FTSE 250 gained 0.16%.
1. FTSE 100 declines
Britain's FTSE 100 fell 0.76% to 10,685.18 points by 0949 GMT on Tuesday, heading toward its biggest one-day decline in about a month. The FTSE 250 gained 0.16%, while the banking index fell 3.7% to a four-month low.
2. Banks and companies move
HSBC fell 7% after reporting third-quarter revenue of $18.6 billion, below analysts' estimates of $19 billion, as its wealth business slowed. Standard Chartered, NatWest Group and Lloyds Banking Group fell between 1.1% and 2.2%. Informa cut its full-year revenue growth guidance to 3% from 6%, and Reckitt lowered its annual net revenue growth forecast.
