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£6.2m is a rounding error for HSBC.
Is that why we've received more? The Canada sale?
I received an extra £3k, which I'm not complaining about but I wondered if there had been an error.
Happy Friday all.
Now in along with big 'special'.
Cable currently at a lower rate again.
Glad HSBC locked in rates in yesterday with Cable spiking to 1.28 on weaker US inflation data.
Plus the 'special', because of the current exchange rate will total 24.3432p per share, lower than the final dividend of 24.829p
The fine is miniscule in comparison to the £233m redress and compensation that HSBC will paying to the 1.5m affected customers. So far HSBC has paid £185m of this redress.
If the news about Ping was published on 17th May, why did the share price wait until 28th May to drop by over 2%?
I put in my buy order over the bank holiday weekend, to be processed on 28th May at a price of 693. I was pretty pi**ed off to find that on the same day the price had fallen to 685. The reason quoted was the possibility of Ping selling its stake news of which had been published over a week before!!
Typical, interest rates to begin falling soon though and 6.2 not massive
HSBC has been fined £6.2m by the City watchdog after it found the bank failed to help customers in financial difficulties. The Financial Conduct Authority (FCA) said the lender failed to consider customers' circumstances when they missed a repayment or sometimes "took disproportionate action". The FCA said the bank put "1.5 million people at risk of greater financial harm" through its actions.
https://www.bbc.co.uk/news/articles/cv225xw8y08o
It's like that Russell crowe film, a good year, where he uses his lab rats to short the market then buy back before market closes.
https://youtu.be/dGzP5lbdZkU?si=jHLgcDu-nwDkL0BG
Just read that ‘ PING ‘ has changed his mind about sale of stock!! Hmm, is trying to make a quick buck on short selling..
As top investor Ping An looks to cut stake.
https://www.thisismoney.co.uk/money/markets/article-13427713/HSBC-eyes-victory-battle-Asian-business-investor-Ping-looks-cut-stake.html?ico=mol_desktop_money-newtab&molReferrerUrl=https%3A%2F%2Fwww.dailymail.co.uk%2Fmoney%2Findex.html&_ga=2.67514705.171401098.1709226069-1324949097.1657038575&_gl=1*5lonk7*_ga*MTMyNDk0OTA5Ny4xNjU3MDM4NTc1*_ga_XE0XLFFF16*MTcxNTkzMjQ5Ni44My4xLjE3MTU5MzI2MzguMC4wLjA.*_ga_GQE6MT7DLZ*MTcxNTkzMjQ5Ni4xMzcuMS4xNzE1OTMyNjM4LjAuMC4w
Since your "complete nonsense" post.
Look at that huge share price rise. You were so right
Good riddance. Ping An has been a thorn in HSBC's side for too long. No need for HSBC to solely focus on Asia when geographic diversification is key for thriving and surviving.
Yes that sort of news would have an effect - a large holder of stock wanting to offload some - gives an opportunity though for any investors wanting to purchase
Https://www.poundsterlinglive.com/markets/20293-lloyds-bank-and-natwest-set-to-benefit-from-robust-economic-conditions
Banks are back in the loop
Very good and agree, banking due for a renaissance perhaps?
HSBC over £7 after the recent 2 X 31 cents returns to shareholders.
Still undervalued at these levels
Complete nonsense
This is not good for HSBC
The stamp duty tax is a tax investment undermines the city. Like the other taxes the state levies on employment etc totally economically damaging.
"Div 8p payable 21 Jun 2024.
SP down 27p.
I would be better off by 19p if sold it yesterday."
31cent ~= 25p
Outside an S&S ISA, you could pay capital gains instead of dividend tax.
Depends on how much tax free allowance you have unused.
Regardless of ISA, there is the 0.5% stamp duty when you buy shares.
Since HSBA pays dividend four times a year, you will lose 2% = 0.5% x 4
if you keep switching in and out over a year.
There are dealing charges as well.
Think we are seeing signs of recovery