HSBC, Europe’s largest bank, reported a 31% jump in pre-tax Q1 profits. Earnings per share rose by 40%. Revenue increased by 5.24% y/y to $14.428 billion. What’s the reason for this success and what is the outlook for the stock?
Why is it important?
These days, What are value stocks? A value company is a company that app... More players eye financial stocks with great attention as their performance is regarded as a barometer of the world’s financial and economic health.
For What are value stocks? A value company is a company that app... More
HSBC cited strong growth in Asia where it makes three-quarters of its profits as one of the major factors of its success. The bank’s CEO John Flint said that given the global economic uncertainty the results were “encouraging”. According to him, the strongest businesses were retail banking and wealth management, as well as commercial banking.
It’s also evident that HSBC managed to successfully cut costs. Operating expenses diminished by 12% in the first 3 months of the year.
The biggest challenge for the bank is to improve its performance in the United States. Last quarter the situation improved as the bank’s American business returned to profit but What are value stocks? A value company is a company that app... More still want to see a sustainable What is a market trend in trading? A market trend is the ten... More there.
The stock is up by more than 7% since the start of the year. It rose above 674.00 in London (38.2% Fibo of the 2018 decline). This area together with the 50-week MA in the 666.00 area will now act as What are "support levels" in trading? A support level is a... More. The next level to watch on the upside is 700 (50% Fibo, 100-week MA and the psychological level).