News of a special dividend following the sale of its Canadian operation, a £3billion share buy back and a robust set of quarterly earnings proved sufficient to give HSBC a boost in early trade on Tuesday. The stock was sitting around 2.5% higher and leading the FTSE-100 as a result in early trade.
The investment platform published a trading statement this morning, with a marked uptick in new clients and a 5% increase in assets under administration. That has been sufficient to see the stock add more than 8% in early trade before retreating slightly, although an hour into the day and the company continues to top the FTSE-250 leaderboard.
The clinical stage biotech company saw its shares jump markedly on Tuesday, adding well over 100% in early trade before retreating somewhat. Just over an hour into the day, gains were standing at 45% with the stock almost back to the levels seen at the end of March before news of its migration from AIM onto JP Jenkins was announced. Today marks the last day of trading on AIM and whilst a rebound like this off the back of delisting news is atypical but could illustrate that market participants are now becoming more comfortable with these alternative venues.
Headlines we expect on Wednesday
HSS Hire Final Results
This time last year Revenue £333m, ROCE 22.8%, Operating profit £26.6m
Next Trading Statement
This time last year Full price sales -0.7%, Finance interest income +7.4%
