FTSE Climbs as HSBC Leads, Ahead of Key Earnings and Fed Decision

London's FTSE 100 advanced, driven by gains in banking stocks, especially HSBC, amid corporate earnings and the U.S. Fed's rate decision. While banking rallied, precious metal miners saw declines. Market focus remains on corporate disclosures and central bank policies as interest rate decisions loom in the UK and US.

The FTSE 100 index in London saw an upward trend on Tuesday, buoyed by advances in banking stocks, including HSBC, amid a week full of corporate earnings and the U.S. Federal Reserve's anticipated rate decision.

Notably, HSBC's shares increased by 2.9%, momentarily boosting the bank's market value past $300 billion. The FTSE 100 closed at a 0.6% rise, while the FTSE 250 added 0.2%. Meanwhile, the precious metal miners index faced a 5.2% drop, following record highs in the previous session.

Across the pond, concerns grow over trade after President Trump's tariff threats against South Korean imports. Focus is now on corporate earnings and the Fed's policy meeting, expected to hold interest rates steady. In the UK, a Reuters poll shows confidence in the Bank of England maintaining a 3.75% rate. Retail prices increased at their fastest rate since February 2024.