HSBC helps FTSE stem the tide

GlaxoSmithKline and AstraZeneca led drug stocks higher across Europe as investors shifted to businesses whose profits are among the least dependent on economic growth. The FTSE 100 added 4.9 points, or 0.08%, to 5846.2 at its close, even as 49 stocks fell. The index lost 4.3% in the previous four sessions. HSBC Holdings, Europe's biggest bank, rose 1.7% to 963.5p The bank said last week first-quarter profit at its US consumer-finance and credit-card division climbed 13% to $930m. Lloyds TSB Group added 8p, or 1.6%, to 518p. The UK's fifth-largest bank by market value said it will boos...