FTSE 100 opened flat with worries over rising COVID-19 infections still dampening the mood. A slew of big cap results did little to help with the blue-chip index down 4 at 5,788.
HSBC said it might start charging for current accounts as profits fell 35% in its latest quarter. Low interest rates are making it hard to make money on loans, it said.
BP PLC (LON:BP.) posted a tiny profit in its latest quarter as chief executive Bernard Looney said its main priority is to execute its new greener strategy. The FTSE 100 oil major, which is in the process of a transition away from fossil fuels, reported a net profit of US$0.1bn.
Revolution Bars Group PLC (LON:RBG) is to close six sites as part of a proposed restructuring because of the new UK pandemic restrictions. Christmas has been written off already with any recovery to be Spring at the earliest said the bar owner.
Published at Tue, 27 Oct 2020 10:13:00 +0000-Market Report: Flat FTSE as Covid-19 infections rise and fears of Christmas cancellation