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Three Quick Facts: HSBC, easyHotels and Rio Tinto

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Three things you need to know in the financial markets this morning from investment writer, Tony Cross

HSBC

Quarterly earnings out from HSBC this morning have shown profits up 28% as the bank’s keen eye on keeping costs in check has paid dividends. Whether this offers any lasting respite for the share price – down 20% from the start of the year amidst fears over a global economic slowdown remains to be seen. The Hong Kong listed stock is trading higher, but with the numbers falling short of consensus analyst estimates – and that global economic outlook failing to improve – any upside may be short lived.

 easyHotels

There’s a development update out from easyHotels this morning, with the super-budget accommodation provider announcing it has been granted planning permission for a property on the outskirts of Oxford, as well as acquiring the freehold for a development in Bristol. The company remains a comparative minnow in this market, but it now operates a shade over 3,000 bedrooms across 34 properties.

Rio Tinto

Rio Tinto has this morning advised the market that its deal to see Chinalco acquire the company’s entire interest in an iron ore project in Guinea has lapsed. The deal has been on the table for two years and Rio Tinto will now work with the Guinea government – which owns 15% of the mine – to find other options.

 

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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