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Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.

#1. HSBC well ahead of consensus estimates

HSBC Holdings [LON:HSBA] reported Q3 profits this morning, with a 75% uptick being well ahead of consensus estimates which had forecast a 23% rise. Bad debt provisions have been reduced sharply which is helping bolster performance and although there’s no dividend being declared, the company will initiate a share buyback as the company is now left sitting on surplus regulatory capital. Shares advanced modestly in Hong Kong trade as a result, although early gains proved difficult to maintain.

#2. Nightcap performance ahead of management expectations

AIM Listed bar operator Nightcap [LON:NGHT] has issued a trading update this morning. The company notes that its performance remains ahead of management expectations and that three new sites are on course to open before the Christmas peak trading period, taking its portfolio of bars to 21.

#3. Plus500 full year revenues will be ahead of consensus forecasts

Plus500 [LON:PLUS] has issued its Q3 trading statement today, showing a familiar pattern for the industry. Figures remain well ahead of 2019 numbers, but have plateaued against the 2020 comparatives. Regardless, management’s expectations are that given the stellar performance in the year to date, full year revenues will be ahead of consensus forecasts.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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