FTSE 100 opens lower as ex-dividend trading weighs on HSBC

Shares of HSBC fell 3.5% in early trading while the broader banking index dropped 2.3%. Flutter dropped 4.9% after the betting company reported full-year core profit at the lower end of its forecast range.

UK's FTSE 100 opened lower on Thursday as ex-dividend trading impacted shares of HSBC, although upbeat earnings from Ireland's CRH and jets and auto parts supplier Melrose helped cap losses.

The blue-chip FTSE 100 lost 0.3% by 0821 GMT, while the domestically-focused FTSE 250 midcap index fell 0.3%. Shares of HSBC fell 3.5% in early trading while the broader banking index dropped 2.3%.

Flutter dropped 4.9% after the betting company reported full-year core profit at the lower end of its forecast range. London-listed shares of CRH surged 9.4% after the building materials company posted better-than-expected results.

Melrose Industries posted a jump in profit for the year ended Dec. 31, lifting shares 4.2% higher.