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.

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

JP Morgan Cazenove Overweight 0.00 800.00 800.00 Reiterates

Deutsche Bank Hold 0.00 750.00 730.00 Downgrades

RBC Capital Markets Sector Performer 721.70 721.70 700.00 700.00 Retains

Barclays Capital Overweight 721.70 721.70 850.00 - Reiterates

Morgan Stanley Equal weight 717.55 737.00 757.00 Retains

Canaccord Genuity Buy 717.55 825.00 825.00 Retains

Numis Hold 717.55 - 712.00 Retains

Bounce?

Quite a bounce!

HSBC profits seen up 10 percent as cost cuts pay off

LONDON | Mon Nov 4, 2013 12:11am GMT
(Reuters) - HSBC Holdings is expected to report a 10 percent rise in quarterly profit on Monday as Europe's biggest bank benefits from cost cuts and the absence of a big provision to cover a fine last year.

The rise is unlikely to put to rest concerns about HSBC's growth prospects as tougher regulations squeeze profits, investment banking income drops and the threat remains of further litigation over the bank's past conduct.

Interim Management Statement - 3Q 2013

Highlights

· Reported profit before tax ('PBT') up 30% in the third quarter of 2013 ('3Q13') at US$4,530m compared with US$3,481m in the same period in 2012 ('3Q12').
· Underlying PBT was US$5,056m, up 10% in 3Q13, compared with US$4,603m in 3Q12.
· Reported PBT for nine months to 30 September 2013 up 15% at US$18,601m, US$2,383m higher than in the same period in 2012.
· Underlying PBT for the nine months to 30 September 2013 up 34% at US$18,145m, US$4,640m higher than the prior year period.
· Earnings per share and dividends per share for the nine months to 30 September 2013 were US$0.71 and US$0.30, respectively, compared with US$0.58 and US$0.27 for the equivalent period in 2012.
· Annualised return on equity 1.5 ppt higher - nine months to 30 September 2013 annualised return on average ordinary shareholders' equity ('RoE') was 10.4% compared with 8.9% in the equivalent period in 2012.
· Our home markets of UK and Hong Kong contributed more than half of the Group's underlying PBT in the quarter and year to date. We expect both to see GDP growth in 2014 over 2013.
· Stable revenue - 3Q13 underlying revenue of US$15,588m was broadly unchanged compared with US$15,661m in 3Q12. Notwithstanding this, we achieved broad-based revenue growth in Hong Kong.
· Lower 3Q13 underlying operating expenses - 3Q13 underlying operating expenses were US$9,572m, down 4% from US$9,952m in 3Q12. Excluding notable items, operating expenses increased reflecting higher investment expenditure, wage inflation and litigation and regulatory-related costs.
· Maintained momentum in sustainable savings - during 3Q13 we achieved US$0.4bn of additional sustainable cost savings across all regions, taking the annualised total to US$4.5bn since the start of 2011. This exceeds our target for the end of 2013.
· Further progress on capital generation but regulatory uncertainty remains - our core tier 1 ratio was 13.3% and our common equity tier 1 ratio was 10.6% in 3Q13.

Bang on the 200ma.

Espirito Santo Execution Noble Buy 704.00 687.30 850.00 850.00 Reiterates

Bank of America Merrill Lynch Neutral 704.00 687.30 775.00 775.00 Reiterates

Credit Suisse Outperform 703.10 687.30 780.00 780.00 Reiterates

And it is not started to move yet.
800 soon

660 has proven pivotal in the past.

Have too many of these. should wait a while. Don't know why!

A dabble @658.

Overseas Regulatory Announcement

I haven't quite worked out if this means over or below 5%!

Hmmm - in auction +9.8%.

I guess that was the cause of the FTSE spike.

HSBC Holdings plc FY2013 results

HSBC HOLDINGS PLC
2013 RESULTS HIGHLIGHTS

· Reported profit before tax ('PBT') up 9% in 2013 at US$22,565m compared with US$20,649m in 2012.

· Underlying PBT was up 41% in 2013 at US$21,586m, compared with US$15,286m in 2012.

· Reported PBT was US$3,964m in the fourth quarter of 2013, compared with US$4,431m in the same period in 2012.

· Earnings per share and dividends per share in respect of the year were US$0.84 and US$0.49 respectively, compared with US$0.74 and US$0.45 for 2012.

· Return on equity 0.8% higher at 9.2%, compared with 8.4% in 2012.

· Stable revenue - 2013 underlying revenue of US$63,295m compared with US$61,597m in 2012, underpinned by a resilient performance in Global Banking & Markets and growth in Commercial Banking.

· Lower 2013 underlying operating expenses - 2013 operating expenses were US$38,203m, down 6% from US$40,754m in 2012. Excluding notable items, operating expenses increased in part reflecting inflationary pressures and a higher UK bank levy.

· Underlying PBT was higher in three out of our four global businesses and all of our regions with the exception of Latin America where underlying profit before tax fell.

· Maintained momentum in sustainable savings - during 2013 we achieved US$1.5bn of additional sustainable cost savings across all regions, taking the annualised total to US$4.9bn since the start of 2011. This exceeds our target for the end of 2013.

· Further progress on capital generation - our core tier 1 capital was US$149bn, equating to a ratio of 13.6% and our estimated CRD IV end point basis common equity tier 1 ratio was 10.9% as at 2013.

Canaccord Genuity Buy 630.10 654.20 825.00 750.00 Retains