HSBC, Commerzbank, the Markit PMI doing better than expected: are Europe just hard to follow, or fully surprising? Let's try to decipher that European market of Monday. Firstly, HSBC Q3 earnings showed a rise of 32% from a year ago with a pre-tax profit rise of $6.1 billion. Commerzbank, an important lender bank in Germany, showed a pretax profit of $442 million, instead of $384 million that was expected by analysts. I must admit I'm shocked of these results. Despite that, HSBC finished down -0.8%. The PMI (Purchasing Managers' Index) of Europe from Markit is also higher than expected, with 52.3 at October compared to 52 at September. A number above 50 means it is going positively. The numbers: FTSE 100 is up +0.01% or +0.71 pts (that's not much), with a fall at the opening and then recovered afterward, at 6,361.80 pts. DAX 30 is with +0.93% or +100.53 pts at 10,950.67 pts. CAC 40 is as well on the positive territory with +0.38% or +18.55 pts at 4,916.21 pts. Finally, Spanish IBEX 35 got +0.55% or +57.50 pts at 10,418.20 pts.