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FTSE 100 falls as StanChart, HSBC slide on 'FinCEN' report

Published 09/21/2020, 03:18 PM
Updated 09/21/2020, 03:20 PM
© Reuters.
UK100
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HSBA
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STAN
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INF
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(For a live blog on European stocks, type LIVE/ in an Eikon
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* FTSE 100 down 1.7%, FTSE 250 off 1.4%

Sept 21 (Reuters) - A slide in HSBC and Standard Chartered
shares hit the FTSE 100 on Monday as reports said they and other
banks moved allegedly illicit funds over nearly two decades,
while a surge in COVID-19 cases raised the spectre of another
round of lockdowns.
Shares of HSBC Holdings Plc HSBA.L , already trading at
decade lows, slid 3.2%. Standard Chartered Plc STAN.L also
dropped 3.2% to its lowest since 1998.
The reports by BuzzFeed and other media were based on leaked
suspicious activity reports (SARs) filed by banks and other
financial firms with the U.S. Department of Treasury's Financial
Crimes Enforcement Network (FinCen). The blue-chip FTSE 100 .FTSE was down 1.7%, with travel
and leisure stocks also among the biggest decliners on news that
Prime Minister Boris Johnson was pondering a second national
lockdown to contain the spread of the novel coronavirus.
The mid-cap FTSE 250 .FTMC lost 1.4%.
The world's largest exhibitions group, Informa Plc INF.L ,
gained 2.9% even after it reported a half-year operating loss.
The stock was among only a handful of gainers on the FTSE 100 in
early trading.

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