MARKET TALK: HSBC Shares Rise Post 1H Earnings

2nd Aug 2010 10:17

0917 GMT [Dow Jones] HSBC (HBC) shares +3.4% at 668p, shooting higher Monday following the company's 1H earnings, which show net profit doubled on lower impairment charges. "Today's numbers underline the overall strength of the bank, whilst the dramatic reduction in the loan impairment provision is an additional bonus," says Richard Hunter, head of UK equities at Hargreaves Lansdown Stockbrokers. Adds the shares have recently struggled, but these earnings may render the company worthy of a revisit for many investors. "The general market view of the shares as a buy seems to have been vindicated today," says Hunter. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires August 02, 2010 05:17 ET (09:17 GMT)