To begin the week the FTSE 100 managed to climb back above 7,000 after climbing 1.25% on the day. European markets broadly traded in positive territory today, despite a mixed session across Asia this morning. On the day focus surrounded the Chancellor’s final budget announcement before Brexit this afternoon, but there was a small amount of company’s news too.
HSBC saw a 32% rise on third quarter net profits which helped shares climb 4.76% on the day. Strong growth in their retail and commercial banking, alongside strong performance from their wealth management business helped the bank towards the top of the FTSE 100. GVC were the biggest climbers, with shares up 6.53% today after it was announced that remote-gaming duty would rise to 21%, better than some analysts had expected, making the gambling stocks some of the early winners from the Budget.
Warpaint London shares plummeted over 45% after a profit warning. They made the market aware that revenue would fall below expectations due to challenging trading within the UK.