HSBC shares down as annual profit falls 62%

Shares in HSBC have fallen after the bank reported a steeper-than-expected fall in annual profits. It reported a $7.1bn (£5.7bn) pre-tax profit for 2016, down 62% on the $18.9bn reported a year earlier. HSBC attributed the fall to a string of one-off charges, including the sale of its operations in Brazil.
Read more: http://www.bbc.co.uk/news/business-39035691?source=Snapzu