Fair Investment

Banking News HSBC Shares Up As £7billion Profit Is Announced 18471126


HSBC shares up as £7billion profit is announced

HSBC shares up as £7billion profit is announced

03 August 2010 / by Lois Avery

HSBC  shares were up this morning following the official news that the bank’s profits more than doubled to £7.1 billion in the first six months of this year.

Britain’s biggest banks are all expected to post profitable results this week, in some cases for the first time in two years.

But HSBC set the ball rolling by announcing soaring profits of up to a 121 per cent increase, pre-tax.

HSBC’s booming profits were mostly driven by a sharp fall in bad loans to the lowest level since the financial crisis began.

Chief executive Michael Geoghegan stressed that emerging markets were now the focus for the bank, which stations many of its senior staff in Hong Kong.

He said: “Global demand will remain constrained as long as we face the likelihood of anaemic growth in various Western nations.

“But while these economies come to terms with austerity, we remain bullish on the outlook for emerging markets – both short and long term.”

The good news from the banking sector has sparked confidence within the markets with the FSTE 100 shooting up by 2 per cent yesterday. HSBC shares closed up by more than five per cent and other banking stocks also benefited, with Barclays up nearly three per cent, and Lloyds and RBS up by 3.88 per cent and 4.28 per cent.

The other major banks are expected to post their results for the first half of 2010 later this week. Investors will be keen to see how the taxpayer backed banks Lloyds and RBS have performed.  Lloyds Banking Group is expected to bounce back from a £4billion loss and RBS is heading for a profit of £120million.

© Fair Investment Company Ltd



  Product Name ISA Option Income Yield More Info
Investec FTSE 100 Income Deposit Plan

3.50%

per annum

More Info >
6 year capital protected deposit plan paying a potential income of 3.50% annually or 0.28% monthly. Also available for Cash ISA and Cash ISA transfer.
Income Maximiser
See Details
More Info >
Seeks to achieve a target yield of 7% to generate a quarterly income, whilst offering the potential for some long-term capital growth. Save 100% on Initial Charges.
Monthly Income Plus Fund
See Details
More Info >
Popular monthly income fund that aims to achieve a high level of income whilst seeking to maximise total return through investing in high yielding corporate and Government bonds, together with UK equities. 100% discount on initial charges.
Click here to view latest Fund Facts »
Strategic Bond
See Details
More Info >
Investing in higher yielding assets which will include most types of fixed interest securities, this fund aims to deliver a quarterly income to investors. Save up to 97% on Initial Charges.
Invesco Perpetual Corporate Bond Fund
See Details
More Info >
This highly popular investment fund aims to achieve a high level of overall return with relative security to capital. Income Paid to you twice yearly. Up to a 100% Discount off the Standard Initial Fund Charge.
Click here to view latest Fund Facts »
Artemis Income Fund
See Details
More Info >
One of the leading UK Equity Income Funds. The Fund managers hunt out companies with strong free cash flow and solid balance sheets. Income is paid to you twice yearly. 100% Discount off the Standard Initial Fund Charge.
Click here to view latest Fund Facts »
Invesco Perpetual High Income Fund
See Details
More Info >
One of the UK’s most popular income funds, the Invesco Perpetual High Income has delivered consistently good long term returns through a variety of market conditions. Income is paid to you twice yearly. Up to a 100% Discount off the Standard Initial Fund Charge.
Click here to view latest Fund Facts »
M&G; Corporate Bond Fund
See Details
More Info >
The M&G; Corporate Bond Fund is a conservative ‘blue chip’ sterling fund that aims to produce a higher return than UK government bonds. Income is Paid to you Quarterly. 100% Discount off the Standard Initial Fund Charge.
Jupiter Merlin Income Portfolio
See Details
More Info >
The Jupiter Merlin Income Portfolio fund aims to achieve a high and rising income with some potential for capital growth. Income Distributions are made to you quarterly. 95% Discount off the Standard Initial Charge.
Click here to view latest Fund Facts »

The value of investments and any return from them can fall as well as rise and you may not get back the full amount invested. Please ensure that you read the Important Risk Information below.
  Product Name ISA Option Maximum Potential Return Term More Info
FTSE 100 Enhanced Kick Out Plan

10%

per annum

Up to
6 years
More Info >
Structured investment plan with the potential to mature after years 1, 2, 3, 4, 5 or 6. If the plan matures early it will return 10% times the number of years the plan has been in force. Also available for Stocks & Shares ISA and ISA transfer.
FTSE 100 Kick Out Deposit Plan

6%

per annum

Up to
6 years
More Info >
Capital protected deposit plan with the potential to mature after years 3, 4, 5 and 6. If the plan matures early it will return 5% times the number of years the plan has been in force. Also available for Cash ISA and ISA transfer.

The value of investments and any return from them can fall as well as rise and you may not get back the full amount invested. Please ensure that you read the Important Risk Information below.
  Service ISA Option Minimum Investment More Info
Share Trading Account Plus
N/A
More Info >
Trade in a wide variety of investment options including International Equities, Warrants and Covered Warrants. Frequent traders get a reduced rate of £8.95

The value of investments and any return from them can fall as well as rise and you may not get back the full amount invested. Please ensure that you read the Important Risk Information below.

$(document).ready(function(){ $("#ctl13_GeneralComparisonTabsTable1_divTablesWraper .comparison_table_tabs_container a").click(function(){ var $this = $(this); var TableStyle = ''; var $tab;

if (TableStyle=='uswitch') $tab = $this.parent('li'); else $tab = $this.parent('div').parent('div').parent('td');

var $activeTab = $('#ctl13_GeneralComparisonTabsTable1_divTablesWraper .comparison_table_active_tab');

if ($tab.attr('class')=='comparison_table_active_tab'){ return false; }

$activeTab.removeClass('comparison_table_active_tab'); $activeTab.addClass('comparison_table_inactive_tab');

$tab.removeClass('comparison_table_inactive_tab'); $tab.addClass('comparison_table_active_tab');

$('#ctl13_GeneralComparisonTabsTable1_divTablesWraper .TableTabDiv').hide(); $('#ctl13_GeneralComparisonTabsTable1_divTablesWraper #' + this.className).show();

return false; }); });

function openFactSheet(url) { var w = window.open(url, '', 'width=1000,height=800,scrollbars=yes,resizable=yes'); w.focus(); }








Exit mobile version