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HSBC shares plunge after profit misses forecast

Published Tue, Feb 21, 2017 · 09:50 PM

London

HSBC Holdings plc dropped the most in 18 months in London trading after reporting fourth-quarter profit that missed estimates on a surprise drop in revenue.

The bank said it will boost cost-cutting measures and extend a stock buyback. Adjusted pretax profit, which excludes one-time items, jumped 39 percent to US$2.62 billion, Europe's…

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