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Name | Symbol | Market | Type |
---|---|---|---|
HSBC Holdings PLC | NYSE:HSBC | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.86 | 1.97% | 44.51 | 44.70 | 44.21 | 44.65 | 2,160,706 | 22:59:53 |
1011 GMT - HSBC is among the most mentioned companies across news items over the past six hours, according to Factiva data. The banking giant reported third-quarter results and announced a $3 billion share buyback program. "HSBC has brought down the curtain on a largely forgettable banks' reporting season in largely positive fashion, still reaping the benefits of size but missing estimates on a couple of metrics," Interactive Investor's Richard Hunter says. Despite coming short of expectations, the bank posted a 40% on-year revenue jump to $16.2 billion with pretax profit more than doubling to $7.7 billion on higher interest rates. Analysts point to the lender's heavier cost guidance for 2023 as a source of concern, particularly given costs and impairments led to the profit miss. "Revenue roll-forward and payout strength [are] the key areas of focus, we think," UBS writes. Shares in London are broadly flat in morning trade at around 601 pence while the FTSE 100 index gains 0.8%. Dow Jones & Co. owns Factiva. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
October 30, 2023 06:29 ET (10:29 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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