May 22, 2013

HSBC share price falls as profits below analysts forecasts

The HSBC share price fell by over 2% on Monday to reach 710.97 as its pre-tax profits fell 6 percent to $20.6bn.

The reported pre-tax profit figure was lower than the figure of $22.7bn which was the average derived from a poll of 28 analysts conducted by Reuters.

According to the FT, the bank has also dispelled speculation that it is looking to re domicile to Hong Kong.

News Source: Reuters

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