HSBC pushes UK's FTSE 100 to 5th day of gains

Tue Nov 10, 2009 9:33am GMT
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* FTSE 100 rises 0.5 percent, up for fifth day of gains

* HSBC advances on results but Barclays slips * Imperial Tobacco gains after results, Vodafone loses

By Simon Falush

LONDON, Nov 10 (Reuters) - Gains in HSBC (HSBA.L: Quote, Profile, Research) after strong third-quarter results outweighed weakness in Vodafone (VOD.L: Quote, Profile, Research) as its results disappointed, pushing Britain's FTSE 100 up for the fifth straight session on Tuesday.

By 0914 GMT, Britain's top share index .FTSE was 27.0 points or 0.5 percent higher at 5,262.18, hitting its highest in two weeks after it gained 1.8 percent the previous session.

It is up 51.9 percent since touching a six-year trough in March.

In its third-quarter results, banking heavyweight HSBC said its global banking and markets division is having a record year and that losses on consumer loans had shown their first fall in three years, lifted its shares 3.2 percent.

The market was also boosted by strong gains on Wall Street the previous session, in which the Dow Jones industrials average .DJI rose to its highest in 13 months.  Continued...

 
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