Hsbc Share Discussion Threads

[montyhedge] 25/8/2019 13:23

HSBC has just got to shut up, they can't afford to upset Chinese gov.

[cantrememberthis2] 25/8/2019 10:54

Maybe something else

[montyhedge] 15/8/2019 11:28

565p coming I reckon, now ex dividend with the uncertainty.

[poikka] 12/8/2019 17:16

Finally, STAN is down 17% since its high in early July, while HSBA is 'only' down 10%.

Nothing to see, move along ;)

[poikka] 12/8/2019 13:45

Thing is, Monty, I sold some of my wedge at 663 on the basis of 7895, not on the CEO change. This is a supertanker as far as changing course goes.

Is there some horrible derivative stuff, or similar, lurking around the corner? Haven't heard any rumours. Has anyone?

[poikka] 12/8/2019 13:39

Sticking with my earlier, Monty.

[montyhedge] 12/8/2019 11:39

Poikka
Something seems to be going on.

[poikka] 09/8/2019 17:13

"you wonder if something's down the road"

Right outside your house more like it: SSEC down at last September's level; HK an accident waiting to happen; other FE markets suffering; trouble brewing again in Thailand; US/China trade war continuing - I'm surprised that HSBA (and others) have held up so well.

Not to mention German economic news and Italian government problems.

Not a market to invest in IMO, and one to take profits where reasonable. Gold's doing well.

But the comment was more to do with the change of CEO. I don't see it as anything more than a change of emphasis - hope I'm right because I still hold some of these.

[montyhedge] 09/8/2019 10:47

Yes your right, when a director leaves like that, you wonder if something down the road.

[warranty] 05/8/2019 21:31

Well I’m out with a small loss at 635p because I fear for all the financials at the moment. I’d rather be sitting with a bit of cash on one side to take advantage of any real slides. With the Fed looking like cutting rates rather than lifting them, that can only weaken the dollar making shares like HSBA more vulnerable. Gold is my only real performer at the moment so at least I may benefit there whilst I wait for the crash to come.

[diku] 05/8/2019 11:21

Conflict of interest at BOD level or something unknown will resurface after few months...

[poikka] 05/8/2019 11:17

Why another HSBA site? Nothing wrong with MIATA's.

[poikka] 05/8/2019 10:26

Back again.

If I were CEO (that's a laugh!), I'd be definitely trying to big up on the US. China is (as ever) an accident waiting to happen: it's their jewel in the crown, and their achilles heel.

There are major obstacles surrounding China to overcome: their sea grab of the whole of the China Sea; their buying of influence around the world; their aggressive attitude to Taiwan; their industrial espionage; Hong Kong, and not to mention Huawei.

Those are massive problems, and to have your future so dependent on China is uncomfortable - to me.

[warranty] 05/8/2019 09:21

Bit of a mixed bag there. Results generally ok but some uncertainty about the near future. Surprised that the share price has held up so well but maybe a little time is needed to digest the impact. Surprised at Flint going so soon but there was some surprise that an outsider wasn’t brought in when he was appointed. If more drastic cost cutting is required maybe that’s the plan now?

[poikka] 05/8/2019 08:44

Was Roberts brought in by Flint in July to sort out the US business, or had Flint already been side-lined?

We'll never know, I guess. Enough speculation from me.

Tara.

[poikka] 05/8/2019 08:12

And..

"The bank’s chairman, Mark Tucker, said in a statement: “In the increasingly complex and challenging global environment in which the Bank operates, the Board believes a change is needed to meet the challenges that we face and to capture the very significant opportunities before us.”"

[montyhedge] 05/8/2019 07:55

Strange CEO leaves.

[skinny] 05/8/2019 07:28

.

• Strong revenue momentum in 1H19 in Retail Banking and Wealth Management ('RBWM'), as we won new customers and increased lending, and in Commercial Banking ('CMB'), with growth in all major products and all regions. Global Banking and Markets ('GB&M') revenue lower.

• Continuing growth in Asia, although outlook is less certain. Reported revenue in Asia up 7% compared with 1H18. Reported lending in Asia up $23bn or 5% compared with the end of 2018.

• Investments of $2.2bn in 1H19, up 17% compared with 1H18, on near- and medium-term initiatives to grow the business and enhance digital capabilities.

• Improved customer satisfaction in scale markets in RBWM and CMB.



Group Chief Executive

• On 5 August 2019, John Flint stepped down as Group Chief Executive and as a Director of HSBC Holdings. Noel Quinn was appointed as interim Group Chief Executive and as a Director of HSBC Holdings.



Financial performance (vs 1H18)

• Reported profit after tax up 18.1% to $9.9bn.

• Reported profit before tax up 15.8% to $12.4bn, including an $828m dilution gain recognised on the completion of the merger of our associate The Saudi British Bank ('SABB') with Alawwal bank in Saudi Arabia. It also included a provision of $615m in respect of the mis-selling of payment protection insurance ('PPI'), and $248m of severance costs arising from cost efficiency measures across our global businesses and functions. Adjusted profit before tax up 6.8% to $12.5bn.

• Reported revenue up 7.6%. Adjusted revenue up 8.0%, with strong performances in RBWM and CMB. Adjusted revenue down 3% in GB&M, which suffered from lower market activity due to ongoing economic uncertainty, and spread compression.

• Reported operating expenses down 2.3%. Adjusted operating expenses up 3.5%, with significant work undertaken in 1H19 to reduce 2020 run-rate. Positive adjusted jaws of 4.5%, supported by favourable market impacts in insurance manufacturing, the non-recurrence of a 1H18 adverse swap mark-to-market loss in Corporate Centre and disposal gains in Latin America.

• Earnings per share of $0.42. Return on average tangible equity (annualised) ('RoTE') up 150 basis points ('bps') to 11.2%, including c.120bps favourable impact of the SABB dilution gain.

• Common equity tier 1 ('CET1') ratio up 30bps from 31 December 2018 to 14.3%.

• We intend to initiate a share buy-back of up to $1bn, which we expect to commence shortly.



Progress on 2020 financial targets

• The outlook has changed. Interest rates in the US dollar bloc are now expected to fall rather than rise, and geopolitical issues could impact a significant number of our major markets. In the near term, the nature and impact of the UK's departure from the European Union remain highly uncertain. Given the prevailing outlook for interest rates and revenue headwinds in GB&M and RBWM, we do not expect to achieve our 6% RoTE target in the US by 2020.

• We are managing operating expenses and investment spending in line with the increased risks to revenue.

• We expect some recovery from first-half market conditions in GB&M in the second half of 2019 and into next year, and continue to target a RoTE above 11% in 2020, but we will not take short-term decisions that could jeopardise the long-term health of the business.

[gateside] 08/6/2019 13:30

The Share Centre charge £4.80/month for an ISA. But their customer service is excellent.