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Market Report: Flat FTSE as Covid-19 infections rise and fears of Christmas cancellation

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.

Bloomsbury Publishing PLC (LON:BMY) is paying dividends again after first half earnings topped management’s expectations. E-books helped revenues at Harry Potter’s publisher jump 10% to £78mln.

Among the small caps, Induction Healthcare Group PLC (LON:INHC) has taken part in the launch of a new feature to deliver health records by iPhone to patients at a Milton Keynes hospital.

Sunrise Resources PLC (LON:SRES) shares climbed as it reported good progress at its CS Perlite-Pozzolan Project. Drilling at the Clayton silver-gold project in Nevada also starts this week.

Quick facts: BP PLC


Price: 303.7 GBX

Market Cap: £60.99 billion

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