0731 GMT - Shell's third-quarter adjusted earnings should rise 14% quarter-on-quarter to $11.2 billion, HSBC analyst Kim Fustier writes. The British energy major's quarterly performance update contained few surprises, with very strong refining margins and robust oil and gas trading being the key elements, she says. The record margins will more than offset a fall in refinery utilization rates, she adds. Shares trade 1.1% higher at 3,688 pence.
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