Barry Gardiner 16:06 27/10/2020

$5 Strong results of HSBC, the stock is up 5%:
- Reported profit after tax down 46% to $2 and reported profit before tax down 36% to $3, mainly from lower revenue.
- The latest set of result suggests a bottoming of the credit cycle and the bank is “putting in place all of the building blocks we need to resume dividends,” HSBC’s CFO Ewen Stevenson told CNBC.
- The reason for lower revenue is that UK economy had big drops during lockdowns while HK avoided them
#buy

Stephen Dixon 15:33 20/10/2020

$5 Goldman Sachs estimated HSBC HOLDINGS's 3Q20 net income at US$869 million, up 3.5 times QoQ but down 71% YoY. Pre-provision profit was modeled at US$3 billion, down 18% QoQ and 31% YoY. The bank's 3Q PBT will likely hit US$2 billion, up 1.2 times QoQ but down 50% YoY. #buy

Barry Gardiner 12:36 20/10/2020

$8340 Profit warning due to COVID-19 and low number of corp. fin. engagements #sell

the Group is expected to record a loss of approximately HK$1 million (corresponding period in 2019: loss of approximately HK$2 million) for the nine months ended 30 September 2020 as compared to the net profit of approximately HK$60,000 for six months ended 30 June 2020.