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.

Merrill Lynch comment:
"HSBC reported net profit of $5.5bn which was comfortably ahead of forecasts - something of a relief that a major global bank can produce a decent set of results in what has hitherto generally been a dismal quarter. BofAML Underweight-30% senior CDS at +67bps.
Bottom line
Revenues were in fact lower across the board but were particularly impacted by lower Wealth Management in HK and lower FICC, the latter being a feature of the sector this quarter. Costs helped, coming in lower than expectations. The cost-income ratio was 54.4%.
Issues to consider
• YTD, the ROTE (stated) is a respectable 12.1%.
• CET1 edged up to 11.8%, closer to where we think HSBC needs to be. Internal capital generation plus 'RWA initiatives' more than offset the dividend, RWA growth and FX effects to deliver this higher ratio.
• No evidence of any impact from any slowdown in China this quarter. Asian provisions were 0.13% compared to 0.19% in 3Q14. Exposure to China is $96bn of which $53bn in loans. The exposure to HK is $635bn, with RE being a big chunk of that. We see limited read-across to Standard Chartered as the banks are so different. We note significant speculation in the UK weekend press (e.g. The Sunday Times) on the results of SC and the possibility of a capital increase.
• LatAm provisions were comparatively well behaved too (ex Brazil which is being sold) at 2.17% versus 3% the previous year.
• The bank may take until next year to decide on its domicile, so we may have to wait for the 4Q report next year for more details. There have been several concessions by the UK Government to accommodate global banks like HSBC."

HSBC to keep headquarters in London http://www.bbc.co.uk/news/business-35575793

No surprise there then.

2015 RESULTS HIGHLIGHTS

· Reported PBT up 1% in 2015 at $18,867m, compared with $18,680m in 2014. This primarily reflected a favourable movement in significant items.
· Adjusted PBT down 7% at $20,418m, compared with $21,976m in 2014.
· Adjusted revenue up 1% at $57,765m, compared with $57,227m in 2014. The increase was mainly in client-facing GB&M (7%), CMB (3%) and Principal RBWM (2%).
· Adjusted loan impairment charges up 17% at $3,721m, compared with $3,168m in 2014. The increases were across a number of countries, reflective of local themes and characteristics.
· Adjusted operating expenses up 5% at $36,182m reflecting wage inflation, business growth and investment in regulatory programmes and compliance. Excluding the UK bank levy, adjusted operating expenses in the second half of 2015 were broadly in line with the first half of the year reflecting strong cost management and the initial effect of our cost saving programmes.
· Return on equity of 7.2%, compared with 7.3% in 2014.
· Earnings per share and dividends per ordinary share in respect of the year were $0.65 and $0.51, respectively, compared with $0.69 and $0.50 for 2014.
· Strong capital base with a CRD IV end point CET1 capital ratio of 11.9% at 31 December 2015, up from 11.1% at 31 December 2014.
· Leverage ratio remained strong at 5.0%.
· Clearly defined actions to capture value from our network and connecting our customers to opportunities.
- Progress on reducing Group RWAs with a $124bn reduction or 45% of our 2017 target achieved.
- Signed agreement to sell operations in Brazil.
- Revenue from transaction banking products up 4% highlighting value and potential of our international network.
- Development of Asia Business gaining momentum. Revenue growth in excess of GDP in majority of Asian markets.

I took a SB on HSBA this morning, which I've just closed for +15 points - not a fortune - but it lessons the impact of the current / purchase price difference!

Shore Capital Sell 447.60 - - Reiterates

Investec Buy 447.60 540.00 - Retains

Nomura Neutral 447.60 - - Retains

Well done skinny, I didn't have the nerve!

Thanks kim - the yield is quite compelling here now!

Beaufort Securities Buy 450.53 - - Reiterates

Barclays Capital Equal weight 450.53 550.00 550.00 Reiterates

Deutsche Bank Hold 450.53 500.00 437.00 Reiterates

JP Morgan Cazenove Underweight 450.53 430.00 410.00 Reiterates

Bought in for 0.21$ div, 3/3/16 and hopefully growth to come.

You are a little ahead of your time!

You'll have to explain fred........

Bought in for 0.21$ div, 3/3/16

8-)

ok div tomorrow of 0.21$, bought in at 470p today........ happy.,. ;))

EARNINGS RELEASE FOR FIRST QUARTER 2016 AND
FIRST INTERIM DIVIDEND FOR 2016

HSBC axes 840 IT jobs in Britain in first big wave of planned cuts

How sustainable do we think the 8.1% dividend is? I have to choose what to buy if the market stays down here and thinking there must be some significant risk around it at 8%+

2016 INTERIM RESULTS - HIGHLIGHTS

HSBC's $2.5 billion buy-back boosts shares as bank postpones profit goal

Very nice.

Broker Forecast - Barclays Capital issues a broker note on HSBC Holdings PLCBFNBarclays Capital today reaffirms its equal weight investment rating on HSBC Holdings PLC (LON:HSBA) and raised its price target to 525p (from 500p).

Getting very overbought now but I'm staying in. Dividend yield down to a mere 6.0% with the rise