🔴 HSBC is trading 6.23% down after third-quarter profit missed estimates

HSBC is trading 6.23% down at £1280.40 after its third-quarter report showed pre-tax profit below estimates.

• On October 27, pre-tax profit rose 32% to $9.6 billion but fell short of estimates; Bloomberg reported shares fell after the results.
• HSBC announced a buyback of up to $1 billion and maintained its outlook.
• The supplied market context shows no comparable broad-market decline to explain the move.