HQ, health and software

London's blue-chips started the week in bullish form adding to Friday's solid gains and tracking positive moves in Asia, particularly in Japan as the Nikkei roared into life. US markets are closed to celebrate President's Day.

“HSBC’s decision to keep its headquarters in London is a fillip for the City and the Treasury,” says AJ Bell Investment Director Russ Mould.

“The Government will be relieved that HSBC’s board decided unanimously to stay in the UK. This, though, was prompted partly by recent concessions unveiled by Chancellor George Osborne and HSBC is keeping ministers on their toes by warning it could change its mind if there is a significant change in circumstances.

“Home and health products group Reckitt Benckiser was near the top of the blue-chip index in early trading after full year results beat forecasts. Reckitt saw excellent growth and margin expansion and was boosted by a strong flu season at the start of the year.

“Fidessa cheered investors by confirming dividends despite full-year profits being flat. Revenues were ahead of market forecasts and the software and services firms saw growth despite volatile conditions in financial markets.”

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