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
Subscribe Now to RANsquawk
Click here for a 1 week free trial
RANsquawk provides audio news and commentary for over 15,000
professional traders and brokers worldwide. Services include:
Real-time audio coverage from 0630 to 2200 London time plus Asia-Pac 2200 to 1000 London time
Teams of analysts covering equities, fixed income, FX, energy, and metals markets
Real-time scrolling news service with instant analysis
Daily and weekly pre-market research and calendars
Video updates covering near-term key risk events & primary trading themes
One-to-one chat with our expert analysts