Collapse: HSBC Holdings plc (LON: HSBA) and BNP Paribas fell against a background of lack of confidence

HSBC Holdings and BNP Paribas are caught bearish trend

In brief: European stock market suffers fiasco today. HSBC Holdings plc (LON: HSBA) and BNP Paribas shares go cheaper.

The European banking sector is beginning to lose in price dramatically during today’s trading. HSBC Holdings plc (LON: HSBA) was 665.90 points today. HSBC Holdings lost -14.10 points or -2.07% in the first half of trading today.

The banking sector ended the day in the green zone yesterday. At this time market participants pleased with the situation in the European banking sector, the state which can be judged by yesterday’s reports of two major regional banks – BNP Paribas and HSBC Holdings. BNP Paribas net income (available for distribution to the holders of the parent) went up by 38.7% in I half of 2010 – to 4.39 billion euros compared with 3.16 billion euros for the corresponding period a year earlier. These figures surpassed analysts’ forecasts, and the company’s shares at the opening of the trading session in Europe rose by 3,5%. The company’s shares have risen in price due to 5,27%. British banking group HSBC Holdings Plc. shares also added to the price of 5,26%.

Igor Tringlers
2010-08-03 12:06, Economics.

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