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Pin to quick picksHSBC Holdings Share News (HSBA)

Share Price Information for HSBC Holdings (HSBA)

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Share Price: 691.40
Bid: 692.00
Ask: 692.10
Change: 0.00 (0.00%)
Spread: 0.10 (0.014%)
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Prev. Close: 691.40
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Broker snap: HSBC sale of Ping An a 'mild disappointment'

Fri, 01st Feb 2013 14:49

HSBC Holdings breathed a sigh of relief Friday after regulators approved the sale of its stake in Ping An Insurance but analysts labelled the deal a 'mild disappointment'.Thai billionaire Dhanin Chearavanont's company Charoen Pokphand (CP) Group snapped up 976.1m Hong Kong-traded shares in the insurance group for $7.4bn after receiving the green light from the China Insurance Regulatory Commission.Investec analyst Ian Gordon slammed the transaction shortly after the announcement. "Ultimately it came as a surprise - and a mild disappointment - that regulatory approval arrived at the 11th hour to facilitate completion of the agreed disposal of HSBC's 15.6% stake in Ping An at HK$59 per share," he said."We were fully supportive of the strategic rationale for exiting Ping An, but with the shares now trading at circa HK$71 we would have preferred HSBC to be free to walk away from a deal which was set to lapse this afternoon and seek to obtain a higher price elsewhere - a trick which HSBC has performed before."London-based HSBC is set to make a $2.6bn profit out of the deal. HSBC sold its shares in two phases. The first stage it disposed $1.93bn worth of shares on December 7th. The second round, which required approval from regulators, will be transferred by February 6th. Investec maintained its 'hold' rating on the stock and said the bank's historical transactions were "well timed" including the disposal of its London headquarters in 2007 which was sold back to the bank after it racked up too much debt for the purchaser. "The strategic rationale is clear - it is a business with which HSBC had few obvious synergies," Gordon said of the Ping An sale."In our view, this was simply a well-timed 'punt' on China, which has played out well. HSBC can now primarily focus its resources on its own organic build-out and its continuing partnership with, and stake in, BoCom."Shares in HSBC rose 0.21% to 718.20p at 15:23 Friday. RD
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9 Apr 2024 08:52

TOP NEWS: HSBC to take USD1 billion loss on sale of Argentina business

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9 Apr 2024 08:37

HSBC takes $1 bln hit from Argentina sale as Asia pivot continues

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LONDON BRIEFING: HSBC sells Argentinian arm for USD550 million

(Alliance News) - Stocks in London are called to open lower on Tuesday, as investors nervously look ahead to US inflation data and the European Central Bank's latest interest rate decision.

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9 Apr 2024 07:05

HSBC to take $1bn hit from Argentina unit sale

(Sharecast News) - HSBC Holdings on Tuesday said it was selling its Argentina business to Grupo Financiero Galicia for $550m and take a $1bn pre-tax loss in the process as it continued to pivot its operations towards Asia.

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8 Apr 2024 19:45

West Virginia treasurer adds four finance firms to ESG blacklist

NEW YORK, April 8 (Reuters) - West Virginia added four financial firms on Monday to a list of institutions that may be barred from some state business because the state's treasurer deems they are boycotting the fossil fuel industry.

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8 Apr 2024 07:00

HSBC targets wealthy expats, bullish Asian firms to drive Europe unit, exec says

Managers focused on growth after complex transformation

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5 Apr 2024 07:29

Spain's Berge drops plans to list its Astara unit this year

MADRID, April 5 (Reuters) - Spanish privately owned logistics group Berge has dropped plans to list shares in its automotive unit Astara as market conditions are not the most appropriate for a flotation, the company said late Thursday.

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3 Apr 2024 16:07

London close: Stocks reverse losses to finish slightly higher

(Sharecast News) - London markets saw modest gains by the close on Wednesday, following Wall Street higher in afternoon trading.

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Morgan Stanley commits to Canary Wharf home until at least 2038

LONDON, April 3 (Reuters) - Morgan Stanley's UK arm has extended a lease on its 547,000 square foot European headquarters in London's Canary Wharf to 2038, committing to the Docklands financial hub even as rivals relocate in search of smaller offices.

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2 Apr 2024 17:28

London stocks dip in global risk off mood; commodity-linked stocks jump

FTSE 100 down 0.2%, FTSE 250 adds 0.9%

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London close: Stocks turn red on return from Easter break

(Sharecast News) - UK stocks experienced a downturn by the end of trading on Tuesday, as investors resumed activity following the extended weekend, with initial gains reversed by the close ahead of a week marked by a number of key economic data releases.

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LONDON MARKET MIDDAY: FTSE 100 buoyed by UK manufacturing growth

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LONDON MARKET OPEN: FTSE 100 up as oil majors and gold miners shine

(Alliance News) - Stock prices in London opened higher on Tuesday, in confident trade following the long Easter weekend, ahead of a UK manufacturing sector reading later in the morning.

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TOP NEWS: HSBC to pay special dividend after completing Canadian sale

(Alliance News) - HSBC Holdings PLC on Tuesday said it would pay shareholders a special dividend after completing the sale of its Canadian business.

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