HSBC has built on its strong start to the year in equities and FX, while a second-quarter pick-up in credit and rates also contributed to a performance that lifted first-half revenues at the bank’s markets – or trading – unit.

At the end of the first three months of this year, markets revenues had been 8% ahead of the year-earlier period, with equities and FX leading that growth. And this continued into the second quarter, according to HSBC's interim results published on August 3.