Investors were in the money in London today as upbeat results from HSBC put the FTSE 100 Index on course for a third week of gains.

Market heavyweight HSBC set the pace for banking stocks today after posting better-than-expected half-year results.

Woolworths took a £34m (€49m) hit today after agreeing the sale of its loss-making music and video chain MVC.

Britain’s Woolworths group is close to finalising the sale of MVC, its specialist chain of entertainment stores, with an announcement expected this week.

Woolworths could announce the sale of its music and video chain as soon as tomorrow, it was reported today.

Toys-to-sweets retailer Woolworths today said tough conditions on the UK high street had continued to take their toll on the business.

The suitor for Woolworths today said it was withdrawing its interest in the high street retailer.

Woolworths today said it had struck a new three-year deal to supply videos and compact discs to rival Tesco.

UK high street retailer Woolworths offered further encouragement about its trading revival today after posting a 6.5% hike in first quarter sales.

Woolworths is set to replace Baltimore Technologies in the FTSE 250 index when it floats next week.