HSBC’s net profit slides 54% in the fiscal third quarter

In an announcement on Tuesday, HSBC Holdings plc (LON: HSBA) said that its net profit posted a decline in the fiscal third quarter. The company attributed the decline to its revenue that was under pressure in Q3 due to the Coronavirus pandemic that resulted in lower interest rates. Shares of the company were reported about 4% up in premarket trading on Tuesday and jumped another 2% on market open. Including the price action, HSBC is now exchanging hands at 342 pence per share versus a year to date low of 283 pence per share in late September. In comparison, HSBC