FTSE 100 faller: HSBC share price tumbles again Enter Your Email Address Simply click below to discover how you can take advantage of this. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! See all posts by Kirsteen Mackay I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Our 6 ‘Best Buys Now’ Shares FTSE 100 bank HSBC (LSE:HSBA) is the latest in a stream of banking giants to report losses and growing credit impairment provisions. It posted a 65% fall in pre-tax profit for the first six months of 2020. Meanwhile, its credit impairment provisions rocketed 590% from $1bn to $6.9bn, in comparison to the equivalent period last year. It also reported a 9% fall in revenue down to $26.7bn, affected by interest rate reductions and deteriorating market values of assets in investment banking and insurance. The HSBC share price is tumbling on the news.What’s affecting the HSBC share price?As worries of a second wave of coronavirus intensify, and trade war concerns heighten, negative sentiment is weighing on the financial markets. This is not helping the share prices of banks like HSBC. The shares are down 45% year-to-date. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…In its 2020 interim results Group CEO, Noel Quinn, stated: “Our first half performance was impacted by the Covid-19 pandemic, falling interest rates, increased geopolitical risk and heightened levels of market volatility.”It’s not all grim news. In Asia, HSBC reported profit before tax of $7.4bn, despite a higher rate of expected credit losses, highlighting the importance to the group of doing business in the Asia region. However, with its large Asian market presence, HSBC is especially exposed to repercussions from the US-China trade war and Hong Kong disruptions.Being heavily involved in the region, HSBC announced its backing of China’s new security laws for Hong Kong. The bank stated that the law could help maintain long-term stability in the area. However, these laws were opposed in the UK and caused a political outcry. I think the fact HSBC backed it may come back to bite it.No more dividendAll banking institutions paused their dividends in response to an instruction from the Bank of England at the beginning of the pandemic outbreak. This has been a big blow to income investors, particularly those heavily invested in the banking sector. It was certainly a major factor in causing the HSBC share price to slide so far this year. The FTSE 100 bank has pledged to reinstate its dividend as soon as is reasonably possible, but with so much uncertainty ongoing, it could be a long time coming. Also, it may not be the lucrative dividend it once was as banks will have to be realistic about their losses and future growth prospects.Yet while HSBC suffered some loss of earnings, it still made a pre-tax profit of $4.32bn for the first six months of the year. This is down from $12.41bn in the first half of 2019 and below analyst estimates. As I write, HSBC has a £69bn market cap (but this could drop if the share price declines further), price-to-earnings ratio around 14 and earnings per share are 23p.Unfortunately, I think the enduring geopolitical uncertainty, particularly from the US-China trade war, will weigh heavily on the HSBC share price for some time to come. I’m not a fan of the banking sector and without a dividend to up the ante, I will continue to steer clear. I think there are better bargains available in the FTSE 100. Kirsteen has no position in any of the shares mentioned. The Motley Fool UK has recommended HSBC Holdings. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Kirsteen Mackay | Monday, 3rd August, 2020 | More on: HSBA “This Stock Could Be Like Buying Amazon in 1997” Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Image source: Getty Images.
12SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Randall Smith Randall Smith is the co-founder of CUInsight.com, the host of The CUInsight Experience podcast, and a bit of a wanderlust.As one of the co-founders of CUInsight.com he … Web: www.CUInsight.com Details Welcome to episode 54 of The CUInsight Experience podcast with your host Randy Smith, co-founder of CUInsight.com. This episode is brought to you by our friends at CO-OP Financial Services. CO-OP is your trusted payments processing partner whose mission is to drive the credit union movement forward and we couldn’t be happier to have them on as a sponsor of the podcast to kick off season two.In this episode, Randy is speaking with The Honorable Rodney Hood. He was nominated by the President and confirmed in 2019 as the 11th Chairman of the NCUA. We discuss his goals for the NCUA under his chairmanship, and what he sees as opportunities and challenges for credit unions.Chairman Hood discusses where credit unions are today and what he sees as the challenges that they face in the future. He speaks about diversity, equity, and inclusion, why it is so crucial in credit unions today, and about the DEI Summit that was held last year. We chat about the NCUA and how they are embracing diversity in the way they recruit from more diverse candidate groups.Listen in as we talk about where Chairman Hood sees the NCUA in the year ahead and what he hopes to accomplish during his time as Chairman. He tells us why he took the position at NCUA, how the inspiration with time on the job, and what he feels his leadership style is. He says regulation needs to be effective, not excessive, and that is something his team hears him say all the time and they are working towards.Chairman Rodney Hood has a lot to share and you don’t want to miss any of it. He is a genuine person that has a passion for helping people and loves to share his insights on the credit union industry. So sit back, plugin and enjoy!Subscribe on: Apple Podcasts, Spotify, Google Play, StitcherBooks mentioned on The CUInsight Experience podcast: Book ListHow to find Chairman Hood:The Honorable Rodney E. Hood, Chairman of the National Credit Union Administrationwww.NCUA.govContact | LinkedIn | Twitter Show notes from this episode:Shout-out: To our friends at CO-OP Financial Services, our first sponsor of The CUInsight Experience podcast.Check out all the resources and what’s going on at the NCUA here.Read Chairman Hood’s full bio here.What is “Libra” that Chairman Hood mentioned? Read all about it here.Find out more about the DEI Summit the NCUA hosted here.The NCUA counts Diversity and Inclusion among it’s core values.Take the time and fill out the Diversity Survey.Shout-out: Jill NowackiShout-out: Gallaudet UniversityShout-out: American Council for the BlindFind out more about the Payday Alternative Loan Chairman Hood mentioned here.Find out more about the Second-Chance policy here.Shout-out: Jelena McWilliamsShout-out: Joseph OttingShout-out: George Ombado and our friends at ACCOSCABook mentioned: Emotional Intelligence by Daniel GolemanShout-out: Gallup, IncBook mentioned: My Utmost for His Highest by Oswald ChambersAlbum mentioned: Graceland by Paul SimonBook mentioned: A Gentleman in Moscow by Amor TowlesBook mentioned: Rules of Civility by Amor TowlesBook mentioned: The Most of P.G Wodehouse by P.G WodehousePrevious guests mentioned in this episode: Jill Nowacki (episodes 4, 18 & 37), George Ombado You can find all past episodes of The CUInsight Experience here. In This Episode:[01:42] – Welcome to the show, Chairman Hood![02:18] – Chairman Hood discusses what he sees as the challenges that credit unions face and where they are today.[07:19] – He speaks about diversity, equity, and inclusion and why it is so important.[14:38] – Is this something that needs to be done from a systemic level?[16:32] – If we were to sit down a year from now, what would you be the proudest thing that you have accomplished?[21:14] – Chairman Hood talks about why he took the position with NCUA.[22:12] – How is the inspiration different now than a decade ago?[24:19] – He describes his leadership style as one of servant leadership.[27:45] – Regulation needs to be effective, and not excessive is what his team hears him say all the time.[28:13] – How do you make the tough decisions that are not always popular?[29:49] – He wants people to realize that the leader is not always the smartest person in the room.[31:12] – Is there a mistake that you made or that you see young leaders making now?[33:09] – Proper preparation and planning prevent poor results is something he was told and has carried it with him always.[33:40] – Chairman Hood tells us about the mentors that helped shape his career and how he passes that on the people he teaches today.[38:30] – If you have a free day, what do you do to recharge?[40:05] – Chairman Hood speaks about what he was like in high school.[41:03] – He talks about his career path and how it lead him to the credit union industry.[42:44] – What is your daily routine that if you don’t do it, your day feels off?[44:32] – Mapquest is something he uses daily and would be lost without it.[45:18] – What is the album you can listen to over and over?[45:56] – Is there a book that you think everyone should read?[47:34] – Quality time with close friends and family has become more important, and fluff has become less important.[49:09] – When he hears the word success, the first person he thinks of is the credit union member.[50:05] – His final thoughts are he hopes you can glean a little more about him – Rodney Hood.
Comment Advertisement Phil HaighMonday 17 Jun 2019 1:24 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link25Shares William Saliba is edging closer to a move to Arsenal (Picture: AFP/Getty Images)Arsenal have reached an agreement with William Saliba over a transfer to the Emirates, but must now agree a fee with Saint-Etienne, according to reports in France.The Gunners have been heavily linked with a move for the 18-year-old defender in recent weeks, as have Manchester United and Manchester City.However, it looks like Unai Emery’s side have won the race for the Frenchman, with Foot Mercato reporting that they have agreed a five-year deal with the teenager.That agreement has only been made with the player, though, and the signing is not confirmed as a deal is yet to be stuck with his club.AdvertisementAdvertisementADVERTISEMENTThe French side are believed to want around £26m for the talented youngster, although Arsenal will be doing their best to drive that price down as they have a very limited transfer budget this summer, thought to be less than £50m. Advertisement Arsenal ‘reach agreement’ with William Saliba ahead of transfer from Saint-Etienne Saliba has caught the attention of a number of Premier League clubs (Picture: AFP/Getty Images)The highly-rated teenager only extended his contract at Saint-Etienne in April after impressing for the first team over the last season.A club statement read: ‘This Tuesday, William Saliba has extended his two-season contract with his training club which he is now bound until 2023.‘A pledge of confidence placed on the qualities of the young man of 18 years whose benefits reflect an irreproachable state of mind.‘His extension of contract also proves the ambition of the club.’More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CitySaint-Etienne have requested that the defender be loaned back to the club when a deal has been done, but the Gunners are keen to keep hold of Saliba and quickly promote him into the first team.Former Arsenal full-back Lauren said of the young talent: ‘Yes, he looks a very good player,’ speaking to AmericanGambler.com.‘Strong, tall, can come out of the back with the ball and an international for France.‘He reads the game very well, which is important for a player at the back, you have to anticipate and he looks very good at just 18, so the future is bright!’MORE: Chelsea hero Didier Drogba aims cheeky dig at Arsenal for losing Europa League finalMORE: Arsenal miss out on signing Yannick Carrasco due to £30m transfer fee