Good morning from London where the FTSE 100 is up around 1% ahead of a busy week of interest rate calls from both the Federal Reserve and the Bank of England.
Here in the UK, HSBC Holdings PLC (LSE:HSBA) has kicked off the week by unveilng a US$3 billion share buyback on the back of a hefty jump in third quarter profits – thanks in part to higher interest rates. Publishers Pearson PLC (LSE:PSON) also getting in on the buyback action, announcing it plans to repurchase £300 million worth of shares following a hike in its revenue guidance.
Fellow FTSE 100 constituent Frasers Group also marked a positive start to the week on news its offloading fashion brand Missguided to Chinese rival Shien.
Staying abroad and Airtel Africa is this morning’s biggest gainer in percentage terms on the FTSE 100, its shares are up 6% on a reported 20% increase in revenues and finally in small caps, Guild Esports have announced a new £1 million investment from an unspecified source to help fund its push into the burgeoning markets of the middle east and north Africa.