The FTSE 100 is struggling, down 0.4% to 7,272.68, with one of the largest stocks on the index, HSBC (HSBC), in the doghouse.

The banking giant falls 4.5% to 680p as a number of writedowns and one-off costs see 2016 profit fall 62%. A $1bn share buyback is also announced.

Miner Anglo-American (AAL) is up 2% to £13.87 as full year results reveal a 34% reduction in net debt to $8.5bn and earnings up by a quarter.

Sector peer BHP Billiton (BLT) gains 1.9% to £14.26 on a strong set of half year results which reveal a return to profit, a better-than-expected hike in the dividend to 40 cents and a reduction in debt.

Gains were perhaps tempered by a cautious outlook statement which referenced near term pressures on coal and iron ore prices.

Private healthcare outfit Mediclinic (MDC) slumps 6.5% to 750p as it warns on full year profit thanks to a continuation of weak performance in Abu Dhabi.

A 23% advance in underlying earnings per share for 2016, alongside a $400m special dividend and 11% hike in the ordinary payout helps lift hotelier InterContinental Hotels (IHG) 3.6% to £40.19.

Oil services business Wood Group (WG.) dives 9% to 744p as exceptional items see 2016 profit fall 61.8% to $34.4m and the company says it 'remains cautious on the near term outlook'.

Housebuilder and construction specialist Galliford Try (GFRD) slips 0.5% lower to £15.08 despite a 19% advance in first half pre-tax profit to £63m.

Financial advisory firm Lighthouse Group (LGT:AIM) publishes an excellent set of full year numbers. Earnings are up 37% to £2.2m with pre-tax profit up 119% to £1.9m and the group says it is 'well positioned to deliver future growth'.

X-ray imaging firm Image Scan (IGE:AIM), which serves the security and industrial inspection markets, gains 15.6% on a robust first quarter trading update  which shows a strong order book, the development of new products and overall trading in line with expectations.




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Issue Date: 21 Feb 2017