HSBC Holdings plc (LON: HSBA) forced the bears’ capitulation

HSBC Holdings captures the best profit

In brief: Bullish trend is growing thanks to HSBC Holdings plc (LON: HSBA) good records. HSBC shares continue to rise.

HSBC Holdings plc (LON: HSBA) started the day with a rise of a confident. Bulls supported trading volumes and HSBC Holdings shares reached a mark of 680.00 points, gaining +34.00 (5.26%). HSBC Bank boosted profits by half in the I half.

British HSBC Holdings PLC, Europe’s largest bank, reported an increase in its net profit in I half more than doubled due to reduction of reserves for possible loan losses. Net profit for the period totaled $ 6.76 billion compared with $ 3.35 billion during the same period last year. Analysts on average forecast a figure of $ 7.22 billion, HSBC Reserves for possible loan losses, as well as coverage of other risks in the credit sector declined in the first half of the $ 6.4 billion to $ 7.5 billion – the lowest since the beginning financial crisis. Before tax profit surged in the past six months to $ 11.1 billion compared with $ 5.02 billion a year earlier. HSBC profit before tax from operations in Europe increased by 31.7% to $ 3.521 billion, Hong Kong – by 25,9%, to $ 2.877 billion, in the rest of the Asia-Pacific region – by 26.9% to $ 2.985 billion increase in HSBC pretax profits in North and Latin America have been less significant, accounting for respectively 4,4% and 8% in the Middle East – 3,1%. As a result I half the bank will pay a dividend of 16 cents per share.

Igor Tringlers
2010-08-02 18:33, Economics.

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