By Sara Sjolin, MarketWatch
LONDON (MarketWatch) ? Shares of HSBC Holdings PLC dropped 2.4% in London on Monday, weighing on Britain?s benchmark FTSE 100 stock index, after the global banking major reported a 52% drop in third-quarter net income attributable to shareholders.
HSBC /quotes/zigman/13843 UK:HSBA -1.29% ? /quotes/zigman/207333/quotes/nls/hbc HBC -0.89% ? /quotes/zigman/13834 HK:5 -0.26% ?said earnings per share dropped to $0.13 against $0.28 in the year-earlier quarter, while adjusted profit before tax more than doubled in the quarter to $5 billion.
For the quarter, the bank further said it set aside an additional $800 million provision related to a U.S. money-laundering investigation.
?We are actively engaged in discussions with U.S. authorities to try to reach a resolution, but there is not yet an agreement,? HSBC said.
The FTSE 100 index /quotes/zigman/3173262 UK:UKX -0.55% ?slid 0.7% to 5,830.44, giving up parts of a 1.1% gain from last week.
U.S. election in focus
Market sentiment will be dominated this week by the U.S. election and what it may mean for the so-called fiscal cliff.
Other banking shares were also on the decline, tracking a negative mood across European bourses where uncertainty about whether Greece?s parliament will pass a round of austerity cuts required to receive its next tranche of bailout money spooked investors. Nervousness over the outcome of the U.S. presidential election later this week also added pressure on markets.
Shares of Barclays PLC /quotes/zigman/301787 UK:BARC -1.19% ? /quotes/zigman/152323/quotes/nls/bcs BCS -0.91% ?dropped 1.5%, Standard Chartered PLC /quotes/zigman/22532 UK:STAN -0.94% ?lost 1.3% and Royal Bank of Scotland Group PLC /quotes/zigman/10330253 UK:RBS -1.28% ? /quotes/zigman/530544/quotes/nls/rbs RBS -3.77% ?gave up 1.2%.
HSBC?s building in London. The bank?s profit declined sharply in the third quarter.Oil firms? shares also dropped, as oil prices moved lower. BP PLC /quotes/zigman/210014 UK:BP -1.54% ? /quotes/zigman/247026/quotes/nls/bp BP -1.12% ?lost 1.4%, while shares of Royal Dutch Shell PLC /quotes/zigman/359955 UK:RDSB -0.31% ? /quotes/zigman/379012/quotes/nls/rds.b RDS.B -0.76% ?lost 0.3%.
Among mining firms, Rio Tinto PLC shares /quotes/zigman/155899 UK:RIO -1.96% ? /quotes/zigman/182541/quotes/nls/rio RIO -0.37% ? /quotes/zigman/176317 AU:RIO +4.68% ?fell 1.6%, BHP Billiton PLC /quotes/zigman/184879 UK:BLT -1.34% ? /quotes/zigman/270355/quotes/nls/bhp BHP -1.13% ? /quotes/zigman/180893 AU:BHP +2.96% ?declined 1.4% and Vedanta Resources PLC /quotes/zigman/336962 UK:VED -2.76% ?gave up 2.1%.
Shares of manufacturing and engineering firm Weir Group /quotes/zigman/130249 UK:WEIR +6.05% ?bucked the negative trend in London and jumped 3.7%, after the company said it sees double-digit profit growth in 2012. For the full year, it said it?s on track to deliver pretax profit of 440 million pounds ($705 million) to ?450 million pounds, which is within the range of previously announced expectations. See: Weir Group sees double-digit profit growth in 2012.
In Dublin, shares of low-cost airline Ryanair Holdings PLC /quotes/zigman/441183 IE:RY4B +6.59% ?surged 7.5%, after the firm said profit for the first half of the year rose 10%.
/quotes/zigman/13843
UK : U.K.: London
Volume: 14.37M
Nov. 5, 2012 12:02p
Market Cap?115.56 billion
Rev. per Employee?231,061
/quotes/zigman/207333/quotes/nls/hbc US : U.S.: NYSE
Volume: 1.59M
Nov. 2, 2012 3:06p
Market Cap$185.34 billion
Rev. per Employee$361,328
/quotes/zigman/13834 HK : Hong Kong
Volume: 13.22M
Nov. 5, 2012 4:01p
Market CapHK$1436.43 billion
Rev. per EmployeeHK$2.84M
/quotes/zigman/3173262 UK : FTSE Indices
Volume: 0.00
Nov. 5, 2012 12:03p
/quotes/zigman/301787 UK : U.K.: London
Volume: 7.44M
Nov. 5, 2012 12:02p
Market Cap?29.52 billion
Rev. per Employee?276,634
/quotes/zigman/152323/quotes/nls/bcs US : U.S.: NYSE
Volume: 3.94M
Nov. 2, 2012 3:06p
Rev. per Employee$437,377
/quotes/zigman/22532 UK : U.K.: London
Volume: 860,377
Nov. 5, 2012 12:01p
Market Cap?36.09 billion
Rev. per Employee?176,251
/quotes/zigman/10330253 UK : U.K.: London
Volume: 3.47M
Nov. 5, 2012 12:02p
Market Cap?31.42 billion
Rev. per Employee?254,327
/quotes/zigman/530544/quotes/nls/rbs US : U.S.: NYSE
Volume: 289,496
Nov. 2, 2012 3:07p
Rev. per Employee$423,098
/quotes/zigman/210014 UK : U.K.: London
Volume: 8.55M
Nov. 5, 2012 12:03p
Market Cap?84.85 billion
/quotes/zigman/247026/quotes/nls/bp US : U.S.: NYSE
Volume: 5.01M
Nov. 2, 2012 3:00p
Market Cap$136.09 billion
/quotes/zigman/359955 UK : U.K.: London
Volume: 555,874
Nov. 5, 2012 12:01p
Market Cap?140.61 billion
/quotes/zigman/379012/quotes/nls/rds.b US : U.S.: NYSE
Volume: 780,477
Nov. 2, 2012 3:05p
Market Cap$225.53 billion
/quotes/zigman/155899 UK : U.K.: London
Volume: 2.09M
Nov. 5, 2012 12:02p
Market Cap?45.35 billion
Rev. per Employee?527,959
/quotes/zigman/182541/quotes/nls/rio US : U.S.: NYSE
Volume: 3.23M
Nov. 2, 2012 3:04p
Rev. per Employee$836,487
/quotes/zigman/176317 AU : Australia: Sydney
Volume: 4.03M
Nov. 5, 2012 5:30p
Rev. per Employee$821,334
/quotes/zigman/184879 UK : U.K.: London
Volume: 2.62M
Nov. 5, 2012 12:03p
Market Cap?42.71 billion
Rev. per Employee?983,627
/quotes/zigman/270355/quotes/nls/bhp US : U.S.: NYSE
Volume: 2.11M
Nov. 2, 2012 3:00p
Market Cap$115.08 billion
/quotes/zigman/180893 AU : Australia: Sydney
Volume: 10.04M
Nov. 5, 2012 5:30p
Market Cap$110.99 billion
/quotes/zigman/336962 UK : U.K.: London
Volume: 381,730
Nov. 5, 2012 12:03p
Rev. per Employee?272,834
/quotes/zigman/130249 UK : U.K.: London
1,857.00 p
+106.00 +6.05%
Volume: 1.16M
Nov. 5, 2012 12:03p
Rev. per Employee?221,621
/quotes/zigman/441183 IE : Ireland: Dublin
Volume: 4.68M
Nov. 5, 2012 11:59a
Market Cap?6.56 billion
Rev. per Employee?530,925
Sara Sjolin is a MarketWatch reporter, based in London.
Source: http://www.marketwatch.com/news/story.asp?guid=%7BE687FA1E-2727-11E2-825A-002128040CF6%7D&siteid=rss
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