The bank had been expecting a big fine and has since been working to improve its systems. Analysts say it'll take some time for HSBC to repair its battered reputation.

 

“They were factoring the things into an extend. They were aware of what potentially might be around the corner. And certainly, the share price action this morning isn't chaotic on there. So, you know, the company has already looked to and start to deal with this by talking about cost cutting measures of cutting about 2.5 to 3.5 billion in costs and asset stripping as well. So I think as far as the fiscal issues are concerned, it's coverable. I think reputationally speaking though, this might take them a little bit more time for them to get that reputation back.”

 

Just a liitle bit. Let's go to the markets.

 

The Dow is up 80 points overnight. The Nasdaq is 35 points higher. The S&P 500 is up 9. And in London overnight, the FTSE put on 3.

 

To commodity markets.

 

West Texas Crude is trading at 85 US dollars a barrel. Tapis Crude is 113 US dollars a barrel. And gold is at 1710 US dollars an ounce.

 

The Australian dollar is buying 105 US cents, 81 Euro cents and 65 pence sterling.