FX.co ★ FTSE 100 Rises On Upbeat Earnings

UK stocks saw a rise in trading on Tuesday due to the strong performance in terms of earnings by companies like HSBC and Hargreaves. The market also took well to the data provided by the Bank of England that showed a surge in the number of mortgages approved by British lenders, marking an 18-month peak in March.

The key FTSE 100 index increased by 36 points or 0.4%, settling at 8,182 after a relatively stable start to the week.

Particularly, HSBC Holdings saw a 3.6% increase due to the announcement of a buyback plan of another $3 billion of its shares. Meanwhile, Glencore saw a 1% dip due to a drop in first-quarter copper and coal production.

Prudential, the insurance group saw a 5% drop following a 17% decrease in their annual premium equivalents for CITIC Prudential Life, their China-based joint venture.

Whitbread, the owner of Premier Inn, announced their plan to layoff around 1,500 UK employees, which prompted a 2.8% increase in their stocks.

Lastly, Hargreaves Lansdown catapulted 5.7% as a result of its asset under management (AuM) levels soaring by £7.5 billion to a record high of £149.7 billion between January to the end of March.