Heavyweight bank HSBC Holdings PLC led U.K. stocks south on Monday after a disappointing earnings report, while mining firms trended lower amid concerns about China’s property market.
The FTSE 100 index dropped 0.4% to 6,814.18, on track to break a six-day winning run.
Shares of HSBC lost 3.7% after the banking major posted a profit that fell short of expectations. Full-year 2013 pretax profit for the bank rose 9% to $22.56 billion, compared with $20.65 billion a year ago. A consensus forecast of analysts called for a profit of $24.6 billion.
The FTSE 100 index dropped 0.4% to 6,814.18, on track to break a six-day winning run.
Shares of HSBC lost 3.7% after the banking major posted a profit that fell short of expectations. Full-year 2013 pretax profit for the bank rose 9% to $22.56 billion, compared with $20.65 billion a year ago. A consensus forecast of analysts called for a profit of $24.6 billion.