Economics
U.K. Stocks Decline After HSBC Earnings; Bank Shares Lead Losses
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U.K. stocks fell for a second day as HSBC Holdings Plc reported worse-than-estimated earnings, overshadowing the largest expansion in more than six years for Britain’s services industries.
HSBC tumbled the most in 20 months after posting first-half net income that missed analysts’ projections. Lloyds Banking Group Plc rallied to its highest price since October 2010 after a report that it aims to pay as much as 70 percent of its earnings in dividends by 2015.