News Headline Summary

HSBC (HSBA LN) Q3 underlying pre-tax profit USD 5.0bln vs. Exp. USD 5.6bln. also makes USD 800mln provision for US money laundering probes

- Also makes USD 353mln provision for UK consumer redress.
- Q3 PPI provision USD 357mln.
- Core tier-1 at 11.7%.
- Confident in growth outlook for emerging world.
- Expects soft landing in China.
- Final amount of financial penalties could be possibly significantly higher than amount accrued.

Reaction details (08:27)

- In an immediate reaction, co. shares slumped 1.3%.
- 10 minutes after the release shares are down 2.5%.

05 Nov 2012 - 08:15 - Equities - Source: Newswires

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