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Britain's FTSE 100 falls as HSBC drags banks lower

By Reuters News

Oct 27 - Britain's FTSE 100 slumped on Tuesday, pressured by HSBC shares after its quarterly revenue miss, while investors remained cautious ahead of the government's budget and amid higher oil prices.

The blue-chip FTSE 100 index .FTSE fell 0.76% to 10,685.18 points by 0949 GMT, heading towards its biggest one-day decline in about a month. The midcap FTSE 250 .FTMC gained 0.16%.

  • HSBC HSBA.L fell 7%, its steepest one-day percentage decline since April 2025. Europe's largest bank reported third-quarter revenue of $18.6 billion, missing analysts' estimates of $19 billion, hurt by a slowdown in its wealth business

  • Standard Chartered STAN.L, NatWest Group NWG.L and Lloyds Banking Group LLOY.L fell between 1.1% and 2.2%

  • The banking index .FTNMX301010 hit a four-month low and was last down 3.7%

  • Brent crude gained 0.4% on renewed Houthi attacks on Saudi Arabia, overshadowing optimism from talks in Tehran O/R

  • Britain's budget is due on Wednesday, with investors remaining cautious ahead of key fiscal announcements against the backdrop of high borrowing costs and energy prices

  • British business minister Jonathan Reynolds said Britain and the EU were "finding a way through" concerns over the bloc's proposed "Made in Europe" rules, which have raised uncertainty for UK manufacturers

  • Exhibitions group Informa INF.L slipped 1% after cutting its full-year revenue growth guidance to 3% from 6%, as security concerns in the Middle East forced the rescheduling of events in Saudi Arabia

  • Dettol maker Reckitt RKT.L fell 4.5% after cutting its annual net revenue growth forecast, dragging the personal care, drug and grocery sector .FTNMX452010 1.8% lower into negative territory

  • Computacenter CCC.L was the top gainer on the FTSE 100, rising 1.6% after Stifel raised its price target on the IT services provider

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