FTSE 100 made a bright start as miners continued to rally though HSBC’s big profits made little impression. London’s blue chip index rose 21 to 7,226 in early trades.
HSBC PLC (LSE:HSBA) (LSE:HSBA) unveiled a US$2bn share buyback after earnings soared in its latest quarter. Profits in the three months to end September jumped 74% driven by the release of previous bad debt provisions.
An extra £5.9bn has been allocated to help clear the backlog of NHS patients waiting for tests and scans. The money will be announced in Wednesday’s Budget.
A pair of Michael Jordan’s trainers has sold for US$1.47mln at auction. The basketball legend used the Nike Air Ships during his first season with the Chicago Bulls in 1984.
Among the small caps, Oracle Power PLC (AIM:ORCP) (AIM:ORCP) has received official approval to undertake a drilling programme at its Jundee East gold project. It’s located in the Eastern Goldfields region of Western Australia.
Sticking to the mining sector, Panthera Resources PLC (AIM:PAT) (AIM:PAT) has produced a maiden mineral resource estimate for the Labola gold project in West Africa. A preliminary economic assessment is planned for next year.
Allergy Therapeutics PLC (AIM:AGY) (AIM:AGY) posted results from a study on its short-course immunotherapy targeting grass pollen allergies. The candidate met its primary goal of showing clinical improvement.