FTSE 100 Falls, HSBC Drops by Over 6%

The FTSE 100 Index decreased 142 points or 1.37 percent on Tuesday to close at 10222 points. The decline was led by HSBC Holdings (-6.21%), Entain (-5.81%) and Marks & Spencer (-4.80%).

The FTSE 100 dropped more than 1% on Tuesday, with HSBC Holdings weighing heavily on the index after a disappointing earnings report. The bank’s shares fell over 6% as first-quarter profit missed forecasts due to an unexpected fraud-related charge in the UK, despite strong performance in its wealth and Hong Kong divisions. HSBC said it remains well-positioned to handle global uncertainty, including risks linked to Middle East tensions, and raised its net interest income outlook. Other major stocks also declined, with AstraZeneca down about 1%, Unilever falling 3.2%, and GSK slipping 2.6%. Shell was a bright spot, rising 0.8% on firmer energy prices. Overall sentiment stayed cautious amid US-Iran tensions.

The FTSE 100 fell around 1% on Tuesday, pressured by weakness in HSBC Holdings after disappointing earnings. Shares in the lender dropped more than 5% as first quarter profit missed expectations due to an unexpected fraud related charge in the UK, despite solid performance in its wealth division and Hong Kong business. HSBC said it remains well positioned to navigate global uncertainty, including risks tied to Middle East tensions, and raised its net interest income outlook. Elsewhere, Vodafone rose about 0.8% after announcing it will buy out CK Hutchison’s stake in VodafoneThree for £4.3 billion. Broader sentiment remained cautious as escalating conflict between the US and Iran heightened inflation concerns and added to global market volatility.