The London markets traded in the red zone as investors were waiting for fresh catalysts. FTSE 100 traded lower by around 1.15% after the results from Barclays pushed banking stocks lower. As measured by Bank of England CHAPS payment data, the debit and credit card spending had dropped by 28% for the week ended on 11 February 2021 as compared to an equivalent period of 2020.
Moneysupermarket.com Group had reported an 11% decline in its revenue and a 27% drop in profit after tax during FY20 due to adverse impacts of Covid-19 pandemic.
Greeting card and gifting platform Moonpig Group shares surged by approximately 3.55% after the Company had reported its strongest ever trading week in the Group’s history.
British lender Barclays shares dropped by around 5.00% after it had reported a 38% drop in its full-year profit. The Company also announced a dividend payment of a pence per share and share buyback programme worth around 700 million pounds.
Mining group Hochschild Mining had ended 2020 with a net cash position for the first time in last eight years driven by higher precious metal prices. Shares of HOC went down by around 0.09%.