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Pin to quick picksHSBC Holdings Share News (HSBA)

Share Price Information for HSBC Holdings (HSBA)

London Stock Exchange
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Share Price: 693.40
Bid: 693.20
Ask: 693.40
Change: -2.20 (-0.32%)
Spread: 0.20 (0.029%)
Open: 693.80
High: 694.30
Low: 690.90
Prev. Close: 695.60
HSBA Live PriceLast checked at -

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HSBC pledges $2.5bn share buyback as interim profits plunge

Wed, 03rd Aug 2016 07:15

(ShareCast News) - Amid continuing turbulent economic conditions, HSBC Holdings' profits plunged in the second quarter to push interim result south of market expectations, though the bank sweetened the pill with news of a $2.5bn (£1.8bn) share buyback thanks to the sale of its Brazilian business.In the six months to 30 June, profits before tax of $9.71bn were down 28.7% from the same period last year earlier and short of the City's expectations of around $10bn. Earnings per share were down a third to $0.32.The sharper than forecast decline was due to second-quarter net profit dropping 40% to $2.61bn, with PBT plummeting 45% to $3.61bn.Most of the profit decline in the global business came from lower transaction volumes as the 'uncertain times' led to customer restraint, plus a higher $2.4bn of loan impairments.On the plus side, credit-related income remained solid and management made progress on cutting costs and reducing risk-weighted assets by $48bn.HSBC, which has paid $0.20 in two dividends for the current year, said it remained committed to sustaining its annual ordinary dividend at current levels "for the foreseeable future".But due to the uncertain economic and geo-political environment, together with director's expectations for an extended period of low interest rates, the timetable for reaching a target return on equity in excess of 10% by the end of next year has been removed.Common equity tier 1 (CET1) capital strengthened to 12.1% from 11.9% six months before.Chief executive Stuart Gulliver said the company performed "reasonably well" and was particularly pleased with progress in reducing costs and risk-weighted assets."Our highly diversified, universal banking business model helped to drive growth in a number of areas and we captured market share in many of the product categories that are central to our strategy. While economic conditions remain difficult, we are making progress in all of the areas within our control. In the meantime, our balanced business model, strong liquidity and strict cost management make us highly resilient."
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20 May 2024 16:11

IN BRIEF: HSBC issues EUR1.25 billion fixed to floating rate notes

HSBC Holdings PLC - London-based Asia-focused lender - Issues EUR1.25 billion 3.755% fixed to floating rate notes due 2029 under its debt issuance programme.

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20 May 2024 09:57

SDI profit expected to slump 32% despite trading uptick in second half

(Alliance News) - SDI Group PLC on Monday said it remains in a good position to continue with its buy and build strategy despite a drop in overall performance.

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16 May 2024 20:05

PRESS: HSBC shareholder, Ping An, mulls options for stake — Bloomberg

(Alliance News) - Ping An Insurance Group Co is weighing options that would allow it to reduce its 8% stake in HSBC Holdings PLC, Bloomberg reported Thursday.

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14 May 2024 16:11

Kazakhstan opens thorny debate on 2025 OPEC+ oil quotas

LONDON, May 14 (Reuters) - Kazakhstan opened on Tuesday a thorny debate on OPEC+ production levels, saying it believed it should be allowed to pump more oil in 2025, when all current output cuts by the producer group are due to expire.

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14 May 2024 06:27

UK ministers, companies visit Saudi Arabia to boost trade ties

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9 May 2024 17:33

London's FTSE 100 hits record for fourth session after BoE signals rate cuts

FTSE 100 up 0.3%, FTSE 250 adds 0.2%

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9 May 2024 17:06

STOXX 600 ends at record high; BBVA weighs on Spain

Mercedes-Benz, HSBC, Allianz trade ex-dividend

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9 May 2024 15:21

London close: Stocks manage gains as BoE holds rates

(Sharecast News) - London markets closed on a positive note on Thursday, bolstered by the Bank of England's decision to maintain interest rates, in line with market expectations.

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9 May 2024 09:53

LONDON BROKER RATINGS: NatWest target raised, other lenders backed

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

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8 May 2024 12:30

Abu Dhabi's Aldar sell $500 mln in 10-year green sukuk

May 8 (Reuters) - Abu Dhabi's largest real estate developer Aldar Properties Has launched $500 million in 10-year green sukuk, an arranging bank document revealed on Wednesday.

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8 May 2024 07:41

Al Rajhi Bank plans to issue 5.5-year sustainable sukuk, document says

May 8 (Reuters) - Al Rajhi Bank, world's largest Islamic bank in assets and market capitalisation, is planning to sell 5.5-year sustainable Islamic bonds, or sukuk, according to an arranging bank document seen by Reuters on Wednesday.

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8 May 2024 07:18

Aldar Properties starts selling 10-year green sukuk, document says

May 8 (Reuters) - Abu Dhabi's largest real estate developer Aldar Properties has started selling 10-year green Islamic bonds, or sukuk, according to an arranging bank document seen by Reuters on Wednesday.

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7 May 2024 11:30

JPMorgan cuts at least six investment banking jobs in Hong Kong, sources say

HONG KONG, May 7 (Reuters) - JPMorgan Chase & Co has become the latest Wall Street firm to reduce its workforce in Hong Kong, two sources with knowledge of the matter said, amid a weaker market and dealmaking activities.

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7 May 2024 08:30

Abu Dhabi developer Aldar picks banks for 10-year green sukuk

May 7 (Reuters) - Abu Dhabi's largest real estate developer Aldar Properties has hired banks for its 10-year green sukuk offering, an arranging bank document showed on Tuesday.

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4 May 2024 23:51

Ping An votes against reappointment of HSBC CEO as director, source says

May 4 (Reuters) - China's Ping An Insurance Group Co the biggest Asian investor in HSBC PLC did not support reappointing chief executive Noel Quinn as a director to the banks board at the its shareholder meeting, a source familiar with the matter told Reuters on Saturday, as the investor voted against such a move.

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