HSBC Q3 earnings: what next for the share price?

The lender will release its Q3 results on Monday, with investors hoping its second-half is better than its first, with the bank eager to cut operating costs and reduce its reliance on Asia for growth.

When is HSBC’s results date?

HSBC will unveil its Q3 earnings on Monday next week.

HSBC’s results preview: what does the City expect?

HSBC shares are down 5% to 613p since the beginning of January, with the ‘world’s local bank’ recovering some of the ground its stock after hitting a 12-month low in late-August when its share price hit 580p.

Over its first six months of trading, operating income rose by 5.1% to $27.4 billion, with the bank owing the increase to strong growth in its retail banking and wealth management division and Asia.

However, its over reliance on growth from China and emerging markets to offset rising operating costs and weaker-than-expected performance from its European business has hurt its share price.

With Brexit and the US-China trade war continuing to slow global economic growth, it is unlikely that the bank will wow investors when it unveils its Q3 earnings next week.

But the bank has performed relatively well considering the myriad of challenges it faces, chief among them the lack of a CEO, with John Flint stepping down earlier this year, leaving Noel Quinn, HSBC’s head of global commercial banking to steer the ship until a replacement is found.

Looking to trade HSBC ahead of its Q3 earnings? Open a live or demo account with IG

HSBC to relaunch First Direct to take on digital rivals

Earlier this month, HSBC said that it plans to relaunch its First Direct brand in a bid to attract younger customers away from digital rivals like Monzo.

Over the next 12 months, First Direct will get a complete overhaul that will see the digital bank make significant enhancements to its services, features and general accessibility.

'We have a proud heritage of being the original challenger bank back in 1989,’ First Direct CEO Joe Gordon told the Financial Times. ‘Now we’re making a real digital pivot to tackle the environment as it is now.’

You can go long or short HSBC with IG using derivatives such as CFDs.

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