|Bid||628.90 x 200000|
|Ask||651.10 x 372700|
|Day's Range||631.20 - 651.59|
|52 Week Range||596.40 - 750.70|
|Beta (3Y Monthly)||0.84|
|PE Ratio (TTM)||12.00|
|Earnings Date||Jul 30, 2018 - Aug 6, 2018|
|Forward Dividend & Yield||0.31 (4.67%)|
|1y Target Est||9.20|
U.S. stocks climbed as investors navigated mixed corporate earnings results and signals of a possible extension for a deadline to reach a trade deal with China.
The FTSE 100 closed down 0.6 percent, its biggest fall in nearly two weeks, and the FTSE 250 was down 0.3 percent. HSBC was the biggest drag on the main bourse on its worst day in almost two years, as uncertainty around the China-U.S. trade situation was reflected in the Asia-focused bank's disappointing profit growth. Its shares slipped 4 percent, knocking more than 20 points off the FTSE 100 and dragging peer Standard Chartered down 2.1 percent, with the bank warning weaker economic outlooks for China and Britain would pose more challenges this year.
By Julien Ponthus and Danilo Masoni LONDON (Reuters) - European shares dipped on Tuesday as a disappointing update from HSBC hit the heavyweight banking sector and a rally fuelled by optimism about a possible ...
Check out the companies making headlines midday Tuesday:Walmart WMT — Walmart shares gained more than 2 percent after the retailer posted better-than-expected earnings and revenue for the holiday quarter.
The Turkish currency’s collapse over the summer hit trading profits at some investment banks with exposure to the country, such as Barclays Plc. HSBC, however, benefited from the fall in the lira’s value. The outsized gains “driven by volatility in Turkish lira spot” were more than twice as big as predicted by HSBC’s market risk models, according to a filing published Tuesday alongside the bank’s full-year results. HSBC’s profit appeared to be several times larger than the $35 million gain traders at Deutsche Bank AG made in two weeks during last year’s Turkish economic turmoil.
The Asia-focused bank missed consensus forecasts for full-year underlying pretax profits by 24%. HSBC, though, is meant to have a simple story, driven by Asian loan growth. For sure, HSBC wasn’t alone in having its investment bank suffer during the late-year market turmoil, which hurt bond and currency trading in particular.
Rules put in place to save U.K. taxpayers from bailing out major lenders again are having an unintended side effect. Trading updates in recent weeks from Nationwide Building Society, Royal Bank of Scotland Group Plc and Metro Bank Plc said competition to lend to British home buyers was intensifying, even with Brexit looming. HSBC has been wooing first-time home buyers in London with loans up to 95 percent of the value of the property, leading other banks to follow suit.
The retailer earned an adjusted $1.41 per share for the fourth quarter, beating estimates by 8 cents a share. Revenue also beat Wall Street forecasts. U.S. comparable-store sales rose 4.2 percent, topping the Refinitiv consensus of a 3.2 percent increase.
The pledge – laid out Tuesday by Chief Executive Officer John Flint – may seem like wishful thinking, given the lengthening list of challenges to the bank’s revenue growth. For investors, it means HSBC will have to gin up growth faster than last year’s 5 percent gain, slow investing or cut costs. On Tuesday, HSBC posted a 1 percent drop in adjusted pretax profit of $3.39 billion for the three months ended Dec. 31, missing the $4.4 billion consensus.
PLC reported lower-than-expected fourth-quarter profit Tuesday as choppy financial markets, U.S.-China trade tensions and Brexit uncertainty weighed on the global bank. HSBC shares fell 4% in Hong Kong after it said cost growth outstripped revenue at the end of 2018. in an interview said the bank had been on track to meet fourth-quarter cost control targets until revenue collapsed in parts of the bank in November.
HONG KONG/LONDON (Reuters) - HSBC warned it may have to delay some investments this year as Europe's biggest bank missed 2018 profit forecasts due to slowing growth in its two home markets of China and Britain. Its shares fell 3 percent and analysts cut their forecasts as HSBC reported a drop in fourth-quarter revenue amid tumbling stock markets that sapped customer's confidence in investing. At the end of his first year in charge, Chief Executive John Flint said HSBC may have to delay investment plans in order to avoid missing a key target known as 'positive jaws' - which tracks whether the bank is growing revenues faster than costs - for a second straight year.