HSBC revised upwards its estimates for the profits and target prices of Greek banks, after the stronger than expected second quarter they announced. In particular, it says that Greek banks surprised with strong loan growth, a faster readjustment of securities on their books and strong fee income in the second quarter, adding that the positive […]
Tag: hsbc
HSBC: Recession in the eurozone is inevitable – End of the year the ECB will stop interest rate hikes
The European Central Bank will stop raising interest rates after the end of 2022 as the eurozone recession and deflating inflation lead to a reduction in monetary policy tightening, HSBC now estimates. A decline in Russian natural gas flows and the resulting increases in energy costs will drive inflation higher than expected to peak at […]
HSBC: Turkish lira may hit 21 per dollar by June 2023
The Turkish lira could reach 21 per dollar by June next year, when the country is scheduled to hold presidential and parliamentary elections, British bank HSBC said. HSBC revised its estimate for the end of June 2022 from 18.2 pounds to the dollar, BloombergHT reported, citing the bank’s report. The pound traded down 0.4% at […]
HSBC Holdings: Better than expected earnings
HSBC Holdings reported better-than-expected earnings while pledging to restore quarterly dividends next year as it tries to stave off calls by its biggest shareholder for a break-up. Helped by higher interest rates and rising currency trading revenue, adjusted pre-tax earnings rose 13% to $5.97 billion in the second quarter. The bank was expected to post […]
HSBC, JP Morgan: One-way short positions in the euro – Dive to $0.95 soon, the risks for the eurozone are in the red
Her Eleftherias Kourtalis Short positions in the euro are recommended to investors by HSBC and JP Morgan, assessing which upward movement is an opportunity to build bearish “bets”, given the many and significant challenges facing the eurozone economy, with fears of a recession hitting already the door of the area. EUR/USD will retest recent lows […]
HSBC: Strong upgrade to growth forecasts in Greece – To hit 6.5% this year thanks to tourism strength
Her Eleftherias Kourtalis “Growth slowdown? Not in Greece”, replies the British bank and proceeds with a significant upward revision of its forecasts thanks to strong tourism activity, now estimating that Greek GDP growth will reach 6.5% this year from the 4% it predicted before, while lowering the bar for growth in 2023, at 3.5% from […]
BoE: Big British banks are no longer ‘too big to fail’
The Bank of England said it was pleased that Britain’s top banks could close without jeopardizing the stability of the financial system or disrupting customers, but found shortfalls at three major credit institutions. In the first public assessment of how banks that collapse during a crisis could be solved without the help of taxpayers, BoE […]
HSBC: Increased its overweight position in Greek stocks
Her Eleftherias Kourtali HSBC has increased its overweight position in Greek stocks as part of its investment strategy for the second quarter, emphasizing that the continuous recovery of tourism will help increase GDP, while cheap valuations provide support to the Greek stock market. In particular, it more than doubled its position, from 0.7% to 1.5% […]
HSBC: Stay away from stocks – When to return and why
Her Eleftherias Kourtali Withdraw from your stock positions and return to the markets later in the year, HSBC advises investors, as the risks have increased. All of HSBC’s key indicators point to a slowdown in growth in the second and third quarters and therefore remain underweight in equities and high-yield corporate bonds, while maintaining the […]
HSBC: Reduces the target price for Greek banks, maintains the buy
HSBC is reducing the target price for the shares of Greek banks in a new report, while maintaining the buy recommendation, while stating that this is the preferred share of Eurobank. As he points out, the results of the banks for the fourth quarter and their updated medium-term plans, revealed some problems bigger than expected […]