How British equities performed after an increase in the unemployment rate to 5.1%? | UK Market Update

1 min read | February 24, 2021 05:34 AM GMT | By Team Kalkine Media

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The London markets traded on a mixed note after Prime Minister Boris Johnson unveiled a plan to lift Covid-19 related restrictions. FTSE 100 traded marginally higher by around 0.20% despite weak investor sentiments regarding a sharp rise in the unemployment rate and the release of HSBC Holdings FY20 results.

London-based insurer Aviva shares surged by approximately 0.35% after it had agreed to sell its French business to Aéma Groupe for around USD 3.9 billion.

HSBC Holdings had reported a 34% drop in its annual profits to USD 8.8 billion. However, the Company had resumed its dividend payments.

Moreover, the shares plunged by around 1.97%. British sportswear retailer Frasers Group said that the UK lockdowns and the closure of non-essential retail stores had adversely impacted the Company by over 100 million pounds. However, the shares went up by around 0.65%.

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