HSBC, Standard Chartered Shares Escape Brexit Selloff: ChartBy
It’s accepted wisdom that Brexit was very bad for London’s banks, but HSBC Holdings Plc and Standard Chartered Plc belie this belief, emerging as winners owing to their reliance on Asia for the vast majority of their profits. That’s in stark contrast to last year, when they suffered double-digit stock drops as investors worried about slowing growth in China and record falls in commodity prices. Both lenders will be hoping to build on this momentum when they report their second-quarter results Wednesday.
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