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.

???????????!!!!!!!!!!!!!!!

Halifax, you are right, HSBC is going cap in hand now. Funds are in jeopardy.

300p or below on the cards now within the next few days.

justyl all depends on tomorrows reaction in Hongkong certainly results are very disappointing and with the rebasing of next years dividend the initial market reaction is likely to be negative.We calculate an ex rights sp around 350p but with further negative reaction to come sp may even fall to the rights price of 254p.

DOWN 97p to 394p ONLY?

NO DOWN 100p to 391p

that would be very bad, I hope not..

China is falling down soon and HSBC is just starting to feel the pinch...



HSBC confirms rights issue, cuts divi - MoneyAM


HSBC today confirmed it is seeking to raise 12.5bn from shareholders through a rights issue. The banking giant said the money raised would assist it in dealing with the impact of the present uncertain economic environment.

HSBC also reported pretax profit for 2008, excluding goodwill impairment, of $19.9bn, down 18%. On a reported basis, pretax profit was $9.3bn, down 62%.

Earnings per ordinary share excluding goodwill impairment were down 18% to $1.36 (2007: $1.65). On a reported basis, earnings per share was $0.47, down 72% (2007: $1.65).

The banker said it would be writing no further consumer finance business in the US through the HFC and Beneficial brands and it would be closing the majority of the network.

HSBC said capital generation remains strong., with a Tier 1 ratio of 8.3% and total capital ratio of 11.4% at 31st December 2008.

The fully underwritten Rights Issue announced would enhance capital strength.

Subject to shareholder approval on 19th March 2009, the Rights Issue will add 150 basis points to capital ratios, strengthening the core equity tier 1 ratio to 8.5% and the tier 1 ratio to 9.8%, both on a pro forma basis as at 31st December 2008.

Total dividends in respect of 2008 were $0.64 including fourth interim dividend of $0.10, down 29%, around 15% in sterling terms. Total value of dividends for 2008 of $7.7bn.

Loan impairment charges and other credit risk provisions were $24.937bn in 2008, $7.695bn higher than 2007.

The group's total assets at 31st December 2008 were $2,527bn, an increase of $173bn, or 7%, since 31st December 2007.

Stephen Green, Group Chairman, said: '2008 was the most extraordinary year for the global economy and financial services in well over half a century. It marked the first crisis of the era of globalised securitisation. And it also marked the first crisis of the just-in-time global economy as the impact of the financial crisis fed rapidly straight into the performance of the real economy.

'We at HSBC were not immune from the crisis. But we have built our business on very strong foundations and are able to report results which demonstrate our ability to withstand the storm.'

Still going down

Any idea what is the next support point

rights price 254p!?.

I think you are right with the 254p or maybe lower.

massive drop today (18%) where next? Has the market sussed them out?

maybe a tree shake...took a punt at 357p

Isn't the SP likely to settle at around the 2.54 rights issue price?

I'm a shareholder, BTW!

Who is ETON PARK INTERNATIONAL LLP?
They have shorted HSBC in September and still adding?

dividend? good

better than nothing

Any views on the direction of the SP from this point ?

Will build on floor at which the rump is placed early on Monday morning.