HSBC profit fell 14% due to a $1.1B legal charge, while UK inflation slowed to 1.0% in October.

London stocks edged higher as HSBC posted a 14% drop in third-quarter pre-tax profit to $7.3 billion, hit by a $1.1 billion legal charge tied to a lost Luxembourg lawsuit over the Madoff scandal, though net interest income rose 15% and wealth management revenue jumped 30%. UK shop price inflation slowed to 1.0% in October, driven by falling non-food and food prices, with retailers boosting discounts ahead of Black Friday. The British Retail Consortium called for business rates reform, warning of inflation risks from new taxes. Markets await major U.S. and European central bank decisions and upcoming tech earnings, as top firms are expected to spend over $100 billion on chips and data centers.