HSBC Holdings was one of the few advancers in London trade on Monday, with the banking giant rising on a report it is about to exit from the retail U.S. market.
HSBC
UK:HSBA
shares rose as much as 1.5% in a declining market, as the Financial Times and Bloomberg reported the bank is about to scrap the U.S. retail bank operation while moving more top executives to Hong Kong from London and expanding more in Singapore.
HSBC results will be released ahead of the Hong Kong market open on Tuesday.
The FTSE 100
UK:UKX
more broadly dropped 0.7%, about in line with other global stock markets, amid increasing investor fears about inflation.
With U.K. Prime Minister Boris Johnson set to announce England’s plan for coming out of its COVID-19 lockdown, airlines including Wizz Air
UK:WIZZ
and easyJet
UK:EZJ
rose, with movie-theater chain operator Cineworld
UK:CINE
also gaining ground.
Stocks that have done well during the pandemic, including supermarket delivery company Ocado
UK:OCDO
and food delivery service Just Eat Takeaway
UK:JET,
lost ground.
