HSBC Shares Jump as Bank Lifts Outlook Despite $1.1 B Madoff Hit
HSBC shares jumped about 3% in London and over 2% in Hong Kong after third-quarter results, despite a 14% drop in pretax profit to $7.3 billion due to a $1.1 billion litigation charge tied to the Madoff scandal. The bank raised its 2023 net interest income forecast to $43 billion and declared a $0.10 per share interim dividend for 2025.