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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  HSBC Holdings Plc    HSBA   GB0005405286

HSBC HOLDINGS PLC

(HSBA)
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Britain's FTSE 100 steady, Sino-U.S. trade talks back in focus

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06/24/2019 | 12:05pm EDT
Traders looks at financial information on computer screens on the IG Index trading floor

(Reuters) - London's main index edged up on Monday as gains in defensive stocks such as healthcare were balanced by pressure on Asia-focussed banks, with Sino-U.S. trade talks once again set to take centre stage at this week's G20 summit.

The FTSE 100 eked out a 0.1% gain, outperforming the broader European index, which fell on poor German economic data, and as a profit warning from Mercedes-Benz owner Daimler triggered a sell-off in the region's carmakers.

The mid-cap FTSE 250 shed 0.1%, driven in part by a weak sterling, with traders seemingly reluctant to bet on the currency until the Conservative Party leadership contest concludes.

"I think global markets generally are in a bit of a holding pattern ahead of all-critical G20 meeting," Raymond James analyst Chris Bailey said.

Investors will be watching intently on the outcome of President Donald Trump's upcoming meeting with Chinese counterpart Xi Jinping at the G20 summit in Japan, which could very well influence the course of a protracted trade war that has roiled the global economy.

Ahead of the meeting, Chinese Vice Commerce Minister Wang Shouwen said both countries should make compromises in trade talks, after negotiations broke down last month.

"The absence of confrontational rhetoric over the last fortnight ahead of G20 talks... may have enabled a higher ceiling for sentiment. Nerves remain though," Cityindex analyst Ken Odeluga said.

HSBC and Standard Chartered were among the biggest drags on the main index, offsetting advances in healthcare firms AstraZeneca and GlaxoSmithKline - considered among safer bets in uncertain times.

Admiral Group was among the biggest gainers on the FTSE 100, adding 3.2%, after Barclays upgraded the insurer's rating by two notches.

Shares of retailers and supermarket chains slipped, however, after a forecast showed consumer spending in Britain this year would grow at its slowest rate in six years.

Sainsbury shed 4.2%, Kigfisher and Marks & Spencer lost about 2.5%, and Tesco dropped 2.2%.

On the mid-cap index, power producer Drax lost 5.2% as Citigroup cut its price target on the stock and said it saw no reason to turn more constructive given the current commodity price outlook.

Dixons Carphone fell 3.7% as last week's disappointing annual results prompted further rating downgrades of Britain's biggest seller of electricals and mobile phones.

(Reporting by Shashwat Awasthi in Bengaluru; Editing by Toby Chopra)

By Shashwat Awasthi

Stocks mentioned in the article
ChangeLast1st jan.
ADMIRAL GROUP 3.22% 2191 Delayed Quote.3.18%
ASTRAZENECA 1.02% 6438 Delayed Quote.8.60%
DAIMLER AG -3.77% 47.76 Delayed Quote.8.08%
DIXONS CARPHONE -3.74% 107.6 Delayed Quote.-7.70%
DRAX GROUP PLC -5.21% 275.2 Delayed Quote.-18.62%
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.0.00%
GLAXOSMITHKLINE 1.02% 1593 Delayed Quote.5.71%
HSBC HOLDINGS PLC -0.62% 645.8 Delayed Quote.0.42%
J SAINSBURY -3.97% 188 Delayed Quote.-26.09%
KINGFISHER -2.84% 202.2 Delayed Quote.0.14%
MARKS & SPENCER GROUP -2.24% 204.2 Delayed Quote.-11.26%
STANDARD CHARTERED -1.57% 694.6 Delayed Quote.15.35%
TESCO -2.03% 231.3 Delayed Quote.24.51%
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Financials ($)
Sales 2019 56 279 M
EBIT 2019 21 494 M
Net income 2019 14 456 M
Debt 2019 -
Yield 2019 6,27%
P/E ratio 2019 11,64
P/E ratio 2020 11,24
Capi. / Sales 2019 2,98x
Capi. / Sales 2020 2,86x
Capitalization 167 B
Chart HSBC HOLDINGS PLC
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Technical analysis trends HSBC HOLDINGS PLC
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Average target price 8,64 $
Spread / Average Target 4,4%
EPS Revisions
Managers
NameTitle
John M. Flint Group Chief Executive Officer & Executive Director
Mark Edward Tucker Non-Executive Group Chairman
Andrew Mitchell Maguire Group Chief Operating Officer
Ewen James Stevenson Executive Director & Group Finance Director
Darryl West Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
HSBC HOLDINGS PLC0.42%165 358
JP MORGAN CHASE & COMPANY12.11%345 353
INDUSTRIAL AND COMMERCIAL BANK OF CHINA10.59%284 490
BANK OF AMERICA14.12%253 679
CHINA CONSTRUCTION BANK CORPORATION16.33%214 502
WELLS FARGO1.76%200 088