10 things you need to know in markets today

1. HSBC on Monday said profit rose 5% in the first half of the year, as Europe's biggest bank reduced operational costs and increased income in its core markets of Britain and Hong Kong. Pre-tax profit reached $10.2 billion in the six months through June, from $9.7 billion in the same period a year earlier, HSBC said in a statement. The result compared with the $9.5 billion average estimate of analysts polled by the bank.

4. China’s economy continued to perform strongly in July, continuing the theme seen in the first half of the year.According to China’s National Bureau of Statistics (NBS), the nation’s manufacturing Purchasing Manager’s Index (PMI) came in at 51.4 in June, moderating slightly on the 51.7 level previously reported in June. It also missed market expectations for a smaller decline to 51.6.

7. Oil prices rose to their highest levels since May early on Monday as a dip in U.S. output tightened the market and the threat of sanctions against Venezuela kept traders on edge.Brent crude futures , the international benchmark for oil prices, were trading up 16 cents or 0.3% at $52.38 per barrel as of 6.40 a.m. BST. Prices earlier hit $52.76, the highest level since May 25.

9. Investment bank Jefferies has hired Peter Seccia, a former Goldman Sachs partner, as global head of equity derivatives.He will be based in New York, and will work closely with global head of equities Peter Forlenza and Matt Foulds, global head of equities distribution. "Peter’s global experience and longstanding relationships further strengthen Jefferies' extensive credentials in equities and beyond," Forlenza and Foulds said in a statement.

10. Barely a month after approving the inclusion of Chinese shares in its benchmark emerging market index, MSCI is warning that companies in China that suspend trading in their shares for too long risk being dropped.MSCI's head of research for Asia Pacific, Chin Ping Chia, said China was an outlier in global markets with too many suspensions in stock trading. He said the U.S. index provider was closely monitoring the 222 China-listed A-shares that will be added to its Emerging Markets Index next year.