European shares dip as HSBC results weigh on banks ahead of Big Tech earnings - Reuters — SkimNews
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- European shares dipped as HSBC’s results weighed on banks ahead of Big Tech earnings.
- HSBC shares slid more than 6% after the bank’s quarterly profit missed expectations.
- HSBC shares slumped on a revenue miss, while the lender’s profit growth also missed expectations.
- HSBC announced a share buyback of up to $1 billion.
Why it matters: HSBC shareholders took the immediate hit, with the stock down more than 6% after quarterly profit, profit-growth and revenue misses. HSBC’s announced buyback of up to $1 billion is a concrete corporate action in the coverage, but no cited headline says it blunted the sell-off.
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