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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: 706.40
Bid: 688.00
Ask: 710.00
Change: 0.00 (0.00%)
Spread: 22.00 (3.198%)
Open: 0.00
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Prev. Close: 706.40
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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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22 Jan 2024 10:45

HSBC chair 'confident' on China investment, meets vice president - state media

BEIJING/HONG KONG, Jan 22 (Reuters) - China's Vice President Han Zheng on Monday met with HSBC Chairman Mark Tucker in Beijing and urged the banking giant to deepen cooperation with China to improve Hong Kong's status as a financial centre, the official Xinhua news agency reported.

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18 Jan 2024 14:33

Britain's finance minister Hunt to quiz bank bosses on UK lending

LONDON, Jan 18 (Reuters) - Britain's finance minister Jeremy Hunt will meet the bosses of top British banks next Tuesday to seek reassurance they can keep lending to the economy, four sources familiar with the matter said on Thursday.

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17 Jan 2024 17:05

European shares slide more than 1% on hawkish ECB remarks, disappointing China data

Dec. EZ final consumer prices at 2.9% on yearly basis

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16 Jan 2024 09:27

IN BRIEF: RBC targets completion of HSBC Canada buy in late March

Royal Bank of Canada - Toronto-based lender - Targets March 28 as close date for acquisition of HSBC Bank Canada. RBC will begin conversion activities once the transaction closes and will open the branches and offices in Canada for business a few days later on April 1.

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16 Jan 2024 09:14

LONDON BROKER RATINGS: UBS raises GSK and cuts AstraZeneca

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

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15 Jan 2024 17:06

UK's FTSE 100 slips as luxury, bank stocks weigh

FTSE 100 down 0.4%, FTSE 250 flat

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15 Jan 2024 17:00

European shares start week on shaky footing as bond yields rise

Commerzbank gains after merger talks with Deutsche Bank

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15 Jan 2024 16:57

LONDON MARKET CLOSE: Sluggish stocks slip back in absence of US spur

(Alliance News) - Stocks in London were marked lower on Monday with the lack of direction from Wall Street, with US markets closed, adding to the subdued mood.

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15 Jan 2024 12:04

LONDON MARKET MIDDAY: Stocks head lower in quiet trade amid US holiday

(Alliance News) - Stock prices in London were lower at midday Monday, with trading likely to remain subdued due to a public holiday in the US.

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15 Jan 2024 09:11

LONDON BROKER RATINGS: Exane BNP cuts HSBC; Peel Hunt raises Hammerson

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

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11 Jan 2024 22:04

First Citizens must 'clean up' claims that HSBC poached Silicon Valley Bank workers

Judge says bank must flesh out claims against ex-SVB employees

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11 Jan 2024 20:28

First Citizens must 'clean up' claims that HSBC poached Silicon Valley Bank workers

Judge says bank must flesh out claims against ex-SVB employees

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11 Jan 2024 17:03

M&S shares, Wall Street sell-off drag FTSE lower

U.S. inflation data sparks selloff

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11 Jan 2024 10:59

UK plans new system to tackle small bank failures after SVB collapse

LONDON, Jan 11 (Reuters) - Britain's finance ministry plans to introduce new procedures to manage the failure of small banks more effectively, it said on Thursday, following last year's high-profile collapse of U.S.-based Silicon Valley Bank (SVB).

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11 Jan 2024 09:26

TOP NEWS: Big Yellow rent hike saves revenue from decreased occupancy

(Alliance News) - Big Yellow Group PLC on Thursday said that revenue and lettable area had increased despite occupancy dropping during the "seasonally weaker third quarter".

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