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Share Price Information for HSBC Holdings (HSBA)

London Stock Exchange
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Share Price: 676.80
Bid: 678.10
Ask: 678.30
Change: 3.60 (0.53%)
Spread: 0.20 (0.029%)
Open: 678.60
High: 679.40
Low: 670.30
Prev. Close: 673.20
HSBA Live PriceLast checked at -

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RBC Capital downgrades HSBC on China risks, valuation

Wed, 24th Oct 2018 08:02

(Sharecast News) - RBC Capital Markets downgraded HSBC to 'underperform' from 'sector perform' and slashed the price target to 560p from 730p as it highlighted elevated risk from China and a stretched valuation."HSBC's share price has historically been 72% correlated to the GDP growth of the countries in which it operates, it is therefore vulnerable to a fall in GDP in one of its significant geographies."The bank pointed out that HSBC's direct exposure to China is 11% of profits, but this rises to 59% if we include indirect exposure from Hong Kong and Singapore, whose own economies are strongly correlated to Chinese growth, at 77% and 86%, respectively.It noted the fact that the US has imposed $250bn of tariffs on China this year, with the current levy of 10% expected to increase to 25% from the start of 2019 and the potential for an additional $267bn of goods to be subject to the tariff."We expect that this will act as a drag on Chinese GDP in the next couple of years," it said."We expect this slowdown to impact HSBC's Asian loan growth and wealth management revenues and see downside risk to the shares as consensus is already close to management guidance for 2020 return on tangible equity," RBC said, adding that the bank's implied cost of equity is elevated.In addition, RBC argued that the stock's valuation is stretched, with its two-year forward currently trading at a price-to-earnings of 2x higher than the average of the other universal banks.At 1055 BST, the shares were down 0.2% to 605.70p.
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15 Jan 2024 16:57

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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

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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

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8 Jan 2024 09:49

Saudi Arabia plans benchmark-sized three-tranche bond

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8 Jan 2024 09:24

LONDON BROKER RATINGS: Barclays cuts Berkley and Barratt, ups Bellway

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8 Jan 2024 07:16

UAE's FAB gives price guidance for its 5-yr sukuk

Jan 8 (Reuters) - The United Arab Emirates' largest lender, First Abu Dhabi Bank, has given price guidance of around 100 basis points over U.S. Treasuries for its dollar-denominated Islamic bonds, according to a document seen by Reuters on Monday.

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8 Jan 2024 07:14

UAE's FAB gives price guidance for its 5-yr sukuk

Jan 8 (Reuters) - The United Arab Emirates' largest lender, First Abu Dhabi Bank, has given price guidance of around 100 basis points over U.S. Treasuries for its dollar-denominated Islamic bonds, according to a document seen by Reuters on Monday.

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1 Jan 2024 16:17

HSBC completes sale of retail banking business in France

Jan 1 (Reuters) - HSBC subsidiary HSBC Continental Europe (HBCE) has completed the sale of its retail banking business in France to Crédit Commercial de France (CCF), a subsidiary of My Money Group, the British lender said in a statement on Monday.

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1 Jan 2024 11:21

HSBC transfers retail bank in France to private equity firm Cerberus

(Alliance News) - After more than two years, HSBC Holdings PLC transferred on Monday for an undisclosed amount its retail banking network in France to My Money Group, controlled by US private equity fund Cerberus Capital Management LP.

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Rai Way investors seek update on mooted TV towers tie-up - sources

Tie-up with EI Towers would create national leader

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