UK Market Falls, HSBC Tumbles

(RTTNews) - The UK market fell on Monday, weighed down by results from lender HSBC, even as investors in the rest of the region were relieved after Greece managed to get a four-month extension to its bailout.

The temporary economic lifeline would help Greece avoid an economic crash out and bridge the time for discussions on a possible follow-up arrangement to bring back the country to a financial stability.

A measure of German business confidence rose less-than-expected in February, reports said, citing the results of a key survey. The Ifo business climate index climbed to 106.8 in February, while it was expected to rise to 107.6. In January, the score was 106.7.

Meanwhile, the current conditions index of the survey unexpectedly fell to 111.3, while it was expected to rise to 112.7. In January's, the reading was 111.7.

The Euro Stoxx 50 index of eurozone bluechip stocks added 0.43 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, gained 0.19 percent.

The FTSE 100 index slid 0.20 percent.

HSBC declined 6.4 percent. The lender reported lower full year profit.

Tullow Oil dropped close to 4 percent. BG Group and Royal Dutch Shell were in the red.

Anglo American, Antofagasta, BHP Billiton and Rio Tinto were losing between 3.2 percent and 1.7 percent.

Bunzl gained 1.7 percent. The company announced increased full year profit as well as two acquisitions.

Other markets in the region are mostly higher.

The Asian stocks rose after Wall Street shares surged to record highs Friday, buoyed on relief over the last-minute Greek debt deal.

In the U.S., futures point to a cautious open on Wall Street. In the previous session, stocks rose after Greece agreed not to roll back austerity measures and draw up a list of financial reforms it was prepared to make by the end of April under the EU debt deal.

Crude for April delivery fell $0.68 to $50.13 per barrel, while gold lost $12.2 to $1192.7 a troy ounce.