HSBC Posts Weak Earnings

HSBC Holdings PLC

reported a weak profit for 2013. HSBC's full-year 2013 pretax profit climbed 9% to $22.56 billion, from a year-ago profit of $20.65 billion. However, analysts were expecting a profit of $24.6 billion. In the fourth quarter, HSBC's pretax profit dropped to $3.96 billion versus a year-ago profit of $4.43 billion. HSBC shares fell 3.55% to $52.39 in pre-market trading.