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FTSE 100 bolstered by HSBC results

HSBC's shares open up 3% as it reports rising profits and announces a share buyback of up to $2bn.

Shares in the telecoms group drop 3% after it takes a charge related to its Italian accounting scandal.

The drugmaker is the biggest loser on the index after its share price falls more than 15%.

Virgin Money shares fall 8% after it warns of "areas of weakness" in the housing market.

Airline shares open lower after comments from Ryanair raise the prospect of a price war this summer.

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