Business

London share prices edged lower

Traders in London Image copyright AP

Share prices in London fell back slightly on Tuesday with the FTSE 100 index closing 25 points lower at 7,275.

The biggest drop of the day was seen in the shares of the global bank HSBC, which ended 47p lower at 666p, a fall of nearly 7%.

The bank reported a 62% drop in profits and a smaller-than-expected plan to buy back $1bn worth of its shares from investors.

Capita was the biggest riser of the day, up 4% at 534p.

Shares in Rolls-Royce rose 3.5% to 733p, as investors continued to react to Goldman Sachs upgrading its rating on the shares to "buy".

On the currency markets, the pound ended the day barely changed against the US dollar at $1.247 but rose more than half of one percent against the euro to 1.182 euros.