HSBC dropped 2.8 percent to 635.7 pence. Pretax profit for 2013 rose 9 percent to $22.6 billion from $20.7 billion in the year-earlier period, the London-based bank said in a statement. That missed the $24.6 billion median estimate of 30 analysts surveyed by Bloomberg.
RSA lost 3.7 percent to 97.5 pence. The car and home insurer may sell shares to replenish capital, according to a statement yesterday. The company added that it hasn’t taken a final decision yet. RSA may seek to raise as much as 800 million pounds and will cancel its 2013 dividend payment, the Sunday Times reported. The company will report its full-year results on Feb. 27.
Associated British Foods Plc dropped 2.4 percent to 2,920 pence. The sugar producer that also owns the Primark chain said profit in the first half will be similar to last year, with the growing retail business offsetting falling sugar prices.
Anglo American Plc lost 1.7 percent to 1,533.5 pence, while Rio Tinto Group declined 1.8 percent to 3,536.5 pence. Basic- materials stocks posted the second-biggest decline among 19 industry groups in the Stoxx Europe 600 Index.
Vodafone Group Plc traded after an adjustment for the cash distribution and share consolidation resulting from the sale of its 45 percent stake in its wireless joint venture with Verizon Communications Inc.
Vodafone said it will give its shareholders about 29.53 pence a share in cash and six new shares for every 11 held. The wireless operator will also issue about 263 Verizon shares for every 10,000 Vodafone shares owned.
“A lot of the funds we’ve been speaking to are still not sure what they want to do with the cash or how they want to treat Verizon,” said Nick Lawson, head of synthetic distribution, macro sales and event-driven strategies at Deutsche Bank AG in London. “So the flows may take some time to be reinvested.”
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