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FTSE 100 finishes 33 points higher; HSBC, StanChart at the top; housebuilders weaken

Published: 17:15 27 Apr 2015 BST

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Footsie finished the day 30 points to the good with Standard Chartered and HSBC at the top.

The UK share index touched another record high earlier in the session, peaking at 7,122 points around 2pm.

However, the blue-chip gauge slipped back to 7,104, still 0.5% higher on the day. 

European equities also advanced on speculation Greece will make progress on bailout negotiations. 

Across the Atlantic, US stocks rose with the S&P hitting a new intraday high as technology shares gained before Apple results and gold rebounded from a five-week low.

In London, HSBC (LON.HSBA) was in demand on weekend stories it will sell off its UK consumer bank arm if it relocates away from London. Shares were 3% higher to 648p.

Smaller rival Standard Chartered (LON:STAN) also benefitted as it is seen as a more likely migrant. Shares were 4.6% up to 1,116p.

Underperforming the market were housebuilders such as Taylor Wimpey (LON:TW.) and Barratt Development (LON:BDEV), amid political concerns before next week's election.

Dejected supermarket giant Tesco (LON:TSCO) led the fallers after weekend reports suggest supermarkets' trading profits are set to remain on a downward path until 2017 at the earliest. Shares eased 1.7% to 220p.

Mid-cap fashion chain SuperGroup (LON:SGP) was the top risers on the FTSE 250.

Shares shot up 4.8% to 991p after was given a boost in the form of an upgrade from RBC Capital.

The broker raised the rating on the shares to 'outperform' from 'sector perform' and advances the target to 1,150p from 1,000p.

Among the small caps, Premier African Minerals (LON:PREM) has tied up another tranche of financing for its RHA tungsten mine in Zimbabwe.  Shares jumped almost 10% to 2.5p.

Alluvial diamond firm Golden Saint (LON:GSR) has found a 9.475 carat clear white diamond which the board considers to be of good quality. Shares rocketed 42% to 0.27p.

Recent test-work at Sunrise Resources’ (LON:SRES) County Line project in the US showed a diatomite product could be generated to commercial standards for use in  filtration. Shares jumped 9% to 0.3p.


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