HSBC shares rise on $2bln buyback, outlook
HSBC shares have risen after the bank’s first-half profit surged more than two-fold, it announced a $2 billion buyback, after a rise in interest rates worldwide, and gains from the planned sale of its French unit.
IGTV’s @AngelineOng takes a look at the share reaction.
(Video Transcript)
HSBC
Now, HSBC, another one I want to talk about Rewarding its investors with a share buyback of up to $2 billion is checking out the results for you. First half profit surging more than two-fold.
HSBC upping its near-term return on tangible equity goal as well and says this fresh buy back is set to begin Europe's biggest bank with a market cap of $162 billion, reporting a pretax profit of 21.7 billion for the first six months of this year versus 9.2 billion a year earlier. That was a beat.
By the way, this was, as I mentioned earlier, thanks to rising interest rates worldwide and gains from a planned sale, the planned sale of its French unit, HSBC. Shares in Hong Kong jumped as well to the highest level since May 2019.
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