FTSE 100 opens lower as ex-dividend trading weighs on HSBC

Kitco Media
By Reuters
Published:
Updated:
Reuters
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FTSE 100 down 0.3%, FTSE 250 off 0.3%


March 2 (Reuters) - UK's FTSE 100 opened lower on Thursday as ex-dividend trading impacted shares of HSBC, although upbeat earnings from Ireland's CRH and jets and auto parts supplier Melrose helped cap losses.


The blue-chip FTSE 100 lost 0.3% by 0821 GMT, while the domestically-focused FTSE 250 midcap index fell 0.3%. Shares of HSBC fell 3.5% in early trading while the broader banking index dropped 2.3%. Flutter dropped 4.9% after the betting company reported full-year core profit at the lower end of its forecast range. London-listed shares of CRH surged 9.4% after the building materials company posted better-than-expected results.


Melrose Industries posted a jump in profit for the year ended Dec. 31, lifting shares 4.2% higher.


(Reporting by Shashwat Chauhan in Bengaluru; Editing by Sherry Jacob-Phillips)


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