Headquartered in London, HSBC is one of the largest banking and financial services organisations in the world. HSBCs international network comprises over 9,800 offices in 77 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. Companby has listings on the London, Hong Kong, New York, Paris and Bermuda stock exchanges. Through an international network linked by advanced technology, including a rapidly growing e-commerce capability, HSBC provides a comprehensive range of financial services: personal financial services; commercial banking; corporate, investment banking and markets; private banking; and other activities.

            Red = 25 day moving average.           Green = 200 day moving average.

Just closed here @672.5 (limit) - this is the 3rd time this year they have reached the top of their range an I've missed the previous 2 whereupon they subsequently dropped back to @660.

Now I'm out, they will probably keep on going up!

It is moving up slowly towards 700p.

HSBC to sell HSBC Bank Panama to Bancolombia

HSBC Latin America Holdings (UK) Limited, a wholly owned subsidiary of HSBC Holdings plc ("HSBC"), has entered into an agreement to sell HSBC Bank (Panama) S.A. to Bancolombia S.A. ("Bancolombia") for a total consideration of US$2.1bn in cash, based upon estimated net asset value at completion of US$700m. The transaction is subject to regulatory approvals and other conditions and is expected to complete by the third quarter of 2013.

The sale represents further progress in HSBC's execution of the strategy set out in May 2011. Commenting on the transaction, Antonio Losada, CEO of HSBC Latin America, said: "This is the 46th sale/closure globally since the start of 2011, and it demonstrates our commitment to the Group strategy for the region, based on our five-filter approach, to concentrate on our core markets of Brazil, Mexico and Argentina".

As of 30 September 2012, unaudited estimates show HSBC Bank (Panama) S.A. had approximately US$7.6bn of assets, US$5.7bn of loans and US$5.8bn of deposits, excluding previously announced disposals (*) and other adjustments.

Investec Add 721.25 713.00 685.00 735.00 Upgrades

HSBC HOLDINGS PLC 2012 RESULTS HIGHLIGHTS

· Reported profit before tax US$20.6bn, down 6% on 2011, including US$5.2bn of adverse fair value movements on own debt;

· Underlying1 profit before tax US$16.4bn, up 18% on 2011;

· Core tier 1 capital ratio 12.3%, up from 10.1% in December 2011;

· Estimated Basel III end point common equity tier 1 ratio ('CET1') 10.3% post-2013 management actions (9.0% at end 2012), providing strong capacity for organic growth;

· Dividends declared in respect of 2012 US$0.45 per ordinary share, up 10% on 2011, with a fourth interim dividend for 2012 of US$0.18 per ordinary share. Total dividends US$8.3bn;

· First three interim dividends for 2013 planned to be US$0.10 per ordinary share, up 11%;

· Continued to execute our strategy to grow, simplify and restructure the Group;

· Record year in Commercial Banking with reported profit before tax of US$8.5bn, up 7%;

· Underlying revenues for the Group US$63.5bn, up 7%; Global Banking and Markets US$18.2bn, up 10%; Commercial Banking US$15.9bn, up 8%; Retail Banking and Wealth Management US$27.7bn, up 6%; More than half of the Group's underlying revenue from faster-growing regions;

· Announced disposal/closure of 26 businesses and non-core investments in 2012, 4 in 2013, 47 since beginning of 2011;

· Underlying cost growth of 11% to US$41.9bn included notable items of US$5.7bn (up from US$2.2bn in 2011) and investment in growth and strengthened compliance;

· Notable items included US$1.9bn of fines and penalties paid as part of the settlement with US authorities and the FSA, and additional provisions of US$1.4bn in respect of UK customer redress in 2012;

· Generated further sustainable cost savings of US$2.0bn, giving an annualised total of US$3.6bn. This surpasses our cumulative target of US$2.5bn to US$3.5bn of sustainable savings since 2011;

· Return on average ordinary shareholders' equity 8.4%, down from 10.9% in 2011, driven by adverse fair value movements on own debt, a higher tax charge and a much stronger equity base;

· Earnings per share US$0.74, down 20% on 2011; and

· Pro-forma post-tax profits allocation 60% was retained, 29% declared in dividends (net of scrip) in respect of the year and 11% in respect of variable pay. Variable pay down from 15% in 2011.

Oriel Securities Buy 736.55 - 860.00 Upgrades

HSBC faces new money laundering claims in Argentina

Banking giant HSBC, which was hit with a US fine for money laundering last year, is facing fresh accusations of illegal activity in Argentina.

Argentina has alleged that the bank used "fake receipts" to facilitate money laundering and tax evasion, and launder 392m pesos ($77m; £50m).

The country's tax authority said it had filed criminal charges against HSBC.

HSBC DISPOSES OF QUANTITATIVE TECHNIQUES OPERATIONS TO EUROMONEY


HSBC Bank plc ('HSBC'), a wholly-owned subsidiary of HSBC Holdings plc, has entered into an agreement to dispose of its market indices and data cleansing provider, Quantitative Techniques ('QT'), to Euromoney Trading Limited ('the Transaction'). The gross assets being disposed of were recorded at zero in HSBC's accounts as at 31 December 2012.

Under the terms of the Transaction, HSBC has committed to retain the services of QT for a period of three years from the completion date.

The Transaction is expected to complete by the end of 2013.

Banks like HSBC will gain from Japan's new measures.

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HSBC bank cutting 3,166 UK jobs

HSBC is cutting 3,166 UK jobs as it continues efforts to reduce costs.

The bank said the positions would mostly go from its wealth management division, but that it hoped to redeploy more than 2,000 of the affected staff.

The cuts are part of HSBC's continuing three-year cost-cutting plan, and follows the loss of 2,200 jobs in 2012.

HSBC, which is Europe's biggest bank, currently employs more than 47,000 staff across the UK.

Interim Management Statement

HSBC Holdings plc - Interim Management Statement - 1Q 2013

HSBC Holdings plc ('HSBC') will be conducting a trading update conference call with analysts and investors today to coincide with the release of its Interim Management Statement. The trading update call will take place at 11.00am BST, and details of how to participate in the call and the live audio webcast can be found below and at Investor Relations on www.hsbc.com.

The Directors of HSBC Holdings plc have declared a first interim dividend of US$0.10 per ordinary share in respect of the year ending 31 December 2013 in accordance with their intention, as set out in the 2012 Annual Report and Accounts, to pay quarterly dividends on the ordinary shares in a pattern of three equal dividends with a variable fourth interim dividend.

Wow,
Great update after Lloyds results. Banks are doing great!

Investor Update

Highlights
· Significant execution progress against the strategy outlined in May 2011
· Strategy unchanged - priorities for the next phase 2014-2016:
· grow both the business and dividends
· implement global standards
· streamline processes and procedures
· Re-affirmed return on equity target range of 12-15%
· Revenue growth exceeding cost growth ('positive jaws')
· Additional sustainable costs savings of US$2-3bn
· Cost efficiency ratio in the mid-50s
· Basel 3 common equity tier 1 ratio above 10%
· Progressive dividends

HSBC targets additional $2-3 billion cost savings by 2016

HONG KONG | Wed May 15, 2013 7:27am BST

(Reuters) - HSBC (HSBA.L) said on Wednesday that it would target additional cost savings of $2 billion (1.3 billion pounds) to ($3 billion) in 2014-2016, as Europe's biggest bank cuts jobs and sells noncore businesses to bolster profitability under a restructuring plan led by CEO Stuart Gulliver.

In a strategy update, HSBC (0005.HK) also said it would aim for a cost-efficiency ratio in the "mid-50s", up from 48-52 percent previously, a goal it had been struggling to achieve amid sluggish growth outside Asia. It maintained its long-term target for return on equity of 12 to 15 percent.

Investec Buy 677.50 735.00 740.00 Upgrades

Berenberg Buy 677.50 790.00 790.00 Reiterates

Citigroup Buy 681.50 681.50 770.00 770.00 Upgrades

HSBC Holdings plc 2013 Interim Results

· Reported profit before tax ('PBT') was US$14.1bn in the first half of 2013 ('1H13'), an increase of 10% compared with the same period in 2012 ('1H12').
· Underlying PBT was US$13.1bn, up 47% compared with 1H12, due to higher revenues, lower loan impairment charges, including a notable improvement in our US run-off portfolio, and lower operating expenses.
· Return on average ordinary shareholders' equity was 12.0% compared with 10.5% in 1H12.
· Underlying revenue included net favourable movements on non-qualifying hedges of US$0.8bn, a net gain of US$0.6bn on completion of the sale of our remaining investment in Ping An and a US$0.5bn favourable debit valuation adjustment on derivative contracts.
· We continued to make progress on delivering our strategy and grew revenues in key areas, led by our Financing and Equity Capital Markets and Credit businesses, residential mortgages in the UK and Hong Kong, and from collaboration between our global businesses.
· Underlying costs were down 8% on 1H12, due mainly to the non-recurrence of provisions for fines and penalties recorded in 1H12 and lower charges from UK customer redress programmes and restructuring costs.
· We continued to pursue our strategic aim of improving costs to invest in the business. During 1H13 we achieved US$0.8bn of sustainable cost savings across all regions, taking the annualised total to US$4.1bn since the start of 2011, exceeding our target for the end of 2013.
· We continued to reshape the business and reallocate capital in line with our strategy, announcing 11 disposals or closures of non-strategic businesses since the start of the year, taking the total to 54 since 2011.

Stuart Gulliver, Group Chief Executive, said: 'Both reported and underlying profit before tax increased in the first half. These results demonstrate that we have continued to make progress on delivering our strategy.'

where fjet prices are going to go given the news today?

Espirito Santo Execution Noble Buy 720.80 850.00 850.00 Reiterates

Investec Hold 720.80 740.00 740.00 Reiterates