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HSBC's strong performance in fee income has attracted attention.
The Royal Bank of Canada Capital Markets (RBC Capital Markets) pointed out in a research report that the market's focus on HSBC's earnings conference call may center on whether its strong fee income is sustainable. Driven by transaction banking, wealth management, and Capital Markets business, the bank reported an adjusted pre-tax profit during the reporting period that was 15% higher than market expectations due to better-than-expected fee income. Analysts Benjamin Toms and Pablo de la Torre Cuevas stated that thanks to the growth in deposits and fee business, HSBC's revenue was better than expected.
BP PLC's profits were lower than expected.
According to the Capital Markets Analyst at Royal Bank of Canada, Bilaji Bolkatariah, and Adnan Danani, BP PLC's latest Earnings Reports indicate that its Net income is 10% below market expectations. The report highlights that the reduction in corporate costs and the improvement in customer sector performance are the main positive factors, but the performance of the Henry Hub Natural Gas and low-carbon Business Sectors is unexpectedly weak. Analysts state that, given the weakening macroeconomic environment, the scaling back of its Share Buyback program is anticipated, but the degree of reduction is at the lower limit of the guidance Range. The company's stock price have fallen by 3.2%, now reported at 350.20 pence per share.
