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Share Price Information for HSBC Holdings (HSBA)

London Stock Exchange
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Share Price: 696.40
Bid: 693.50
Ask: 693.70
Change: 3.60 (0.52%)
Spread: 0.20 (0.029%)
Open: 693.90
High: 696.40
Low: 691.00
Prev. Close: 692.80
HSBA Live PriceLast checked at -

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HSBC posts jump in third-quarter profit, but underlying numbers miss estimates

Mon, 02nd Nov 2015 07:16

(ShareCast News) - HSBC posted a better-than-expected 32% rise in third-quarter pre-tax profit thanks to the bank's cost-cutting programme and reduced fines, but underlying profit missed estimates.Third-quarter reported pre-tax profit came in at $6.10bn compared with $4.61bn in the same period last year, surpassing consensus expectations of around $5.2bn, as costs from regulatory fines fell by $1.4bn from 2014.Adjusted for exceptional items, pre-tax profit was down 14% on the year to $5.5bn missing consensus expectations by around 2%.Underlying revenue took a hit from the slowdown in Asia and falling equity markets in the region, dropping 4% from the third quarter of last year to $15.1bn.Nomura, which rates the stock at 'neutral', said "HSBC has missed on an underlying basis" and it expects the results to lead to downgrades.Still, HSBC insisted that slowing growth in Asia would not hurt its portfolio of loans there.Chief executive officer Stuart Gulliver said: "Despite slowing growth in the mainland Chinese economy and market volatility in Asia, there has been no visible impact on our Asian credit quality in 3Q15. "Our operating expenses were higher than the same period last year, as expected, although our cost programmes have started to gain traction. Our third quarter costs were lower than our second quarter costs."Operating costs in the period fell 19% from a year ago to $9bn while net operating income was down 4% to $15.1bn."Our cost-reduction measures are beginning to have an impact on our cost base. There is more to achieve on costs and we expect the measures we have already taken to have a further impact in the fourth quarter," Gulliver said.At 0925 GMT, HSBC shares were down 1.3% at 501.14p.
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Saudi Arabia sets new test for international interest with $13.1 bln Aramco sale

DUBAI, May 31 (Reuters) - Saudi Arabia and its bankers on Sunday will start taking orders for as much as $13.1 billion worth of shares in its energy giant Aramco, in a major test of international investor interest in its market.

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Today 11:16

Saudi Arabia sets new test for international interest with $13.1 bln Aramco sale

DUBAI, May 31 (Reuters) - Saudi Arabia and its bankers will on Sunday morning start taking orders for as much as $13.1 billion worth of shares in its energy giant Aramco, in a major test of international investor interest in its market.

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30 May 2024 21:22

Saudi Arabia sets up new Aramco share sale that could raise $13.1 billion

DUBAI, May 30 (Reuters) - Saudi Arabia's government on Thursday filed papers to sell a new stake in state oil giant Aramco that could raise as much as $13.1 billion, a landmark deal to help fund Crown Prince Mohammed bin Salman's plan to diversify the economy.

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29 May 2024 13:14

HSBC completes sale of Russian unit to Expobank

MOSCOW, May 29 (Reuters) - HSBC has transferred ownership of its Russian unit to Expobank for an undisclosed fee, the two lenders said on Wednesday, ending around two years of negotiations and uncertainty.

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23 May 2024 12:53

HSBC fined £6.3m over treatment of customers in financial difficulty

(Sharecast News) - HSBC has been fined nearly £6.3m by the Financial Conduct Authority over its treatment of customers in financial difficulty.

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23 May 2024 11:20

HSBC fined in UK over treatment of customers in financial difficulty

(Alliance News) - HSBC Holdings PLC has been fined about GBP6.3 million for failures over the treatment of customers who were in arrears or experiencing financial difficulty.

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21 May 2024 16:41

Singapore sells 30-year green bond, raising $1.9 billion

Yield set at 3.30%, coupon rate at 3.25%

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21 May 2024 14:08

Begbies Traynor proclaims "strong performance" ahead of annual results

(Alliance News) - Begbies Traynor Group PLC on Tuesday said it expects to report increased revenue and earnings for its latest financial year.

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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

(Alliance News) - UK Cabinet ministers are visiting Saudi Arabia in a bid to bolster trade links with the kingdom amid reports that Riyadh authorised the use of lethal force to clear land for a new desert city.

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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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