HSBC's Lofty Expectations Drive Steep Share-Price Drop
Dow Jones10-27 17:27
0927 GMT - HSBC Holdings' results aren't disastrous but the bank's shares have been hit by the company's high bar for itself, Quilter Cheviot's Will Howlett writes. The earnings fell a little short of market expectations, with weaker-than-expected revenue, the analyst says. "Following a strong run for the shares, investors have become accustomed to robust results, so even relatively modest misses can prompt a sharper reaction." The fall in the share price is due to disappointment against high expectations rather than a weakening in the underlying business, he adds. Shares are down 6.8%.
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