STOCKS NEWS EUROPE-HSBC up; Q3 pretax profit ahead

Shares in Europe's biggest bank HSBC Holdings Plc (HSBA.L) rise 2.1 percent after posting better than expected third-quarter pretax profit and saying losses on U.S. consumer loans had shown their first fall in three years. "Yet again we are seeing the benefits of good diversification showing themselves with emerging markets offering brighter prospects," says Richard Hunter, head of UK equities at Hargreaves Lansdown.

"There is a clear distinction between the performance and prospects of the government-backed institutions (Lloyds Banking Group (LLOY.L) and RBS (RBS.L)) and the rest including Barclays (BARC.L) and HSBC."

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