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.
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.
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.