London Markets: Hargreaves Lansdown shares slump, while Smith & Nephew soar as U.K. stocks grapple with geopolitics

Surging commodity prices lifted London stocks to positive territory on Tuesday, as geopolitical tensions swirled around investors.

The FTSE 100 index

rose 0.4% to 7,518, also getting a lift as a strong dollar weighed on the British pound

down 0.4%. Investors were absorbing escalation in the Ukraine-Russia crisis after President Vladimir Putin on Monday announced he would officially recognize two separatist regions.

Investors had been hoping for a diplomatic solution and a summit this week between Putin and President Joe Biden, but Western nations were instead rolling out sanctions. The possibility remains that Russia will go ahead and fully invade Ukraine in a fluid situation.

Read: What war in Ukraine would mean for markets as Putin orders Russian troops to separatist regions

The crisis sent shares of energy companies soaring, with Shell stock

up 1%.



fourth-quarter net profit more than tripled from a year earlier, ending 2021 with a strong earnings turnaround, though investors focused on its caution on China and shares rose just 0.4%.

Smith & Nephew


shares surged 7% after the U.K. medical-technology group said it expects stronger growth in the second half of the year versus the first, though with global supply-chain issues continuing.

The company said profit more-than-doubled for 2021 due to revenue above pre-COVID-19 levels for its Sports Medicine & ENT and Advanced Wound Management franchises.

On the downside, shares of Hargreaves Lansdown

tumbled 15% after the London-listed retail-investment platform reported a fall in profit for the first half of fiscal 2022 on lower share-dealing revenue, and said that it would announce a new growth strategy.

This post was originally published on Market Watch

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