FTSE taking a bashing today

Rochdale_Pioneers

JP45 wrote: »

It's not only the FTSE that's taking a bashing.

If you want to know why global stock markets are falling, there's a reasonable summary on the BBC's web site:

http://news.bbc.co.uk/1/hi/business/7918168.stm

Personally, I think there's a lot more bad news to come.

Shhhhh! Don't let on that shares are tanking globally! It might distract them from their mantra that this is only in Britain and that its all Brown's fault. Pointing out things like a $60bn loss in ONE QUARTER!!!!!! on AIG's part, or collapsing share prices elsewhere might raise the suggestion that there is some global catastrophe going on. Which as we all know is wrong - only in Britain thanks to Clown....

sh856531

I can't see why the FTSE is going low today. Who knows what sets the city boys and girls off on their sprees. Maybe it's because snow is predicted? Perhaps Warren Buffet sneezed?

- HSBC and the fact that AIG just reported a $62 billion loss for just 3 months trading. Apparently that amounts to a loss of $23 per share

!

S

StevieJ

sh856531 wrote: »

- HSBC and the fact that AIG just reported a $62 billion loss for just 3 months trading. Apparently that amounts to a loss of $23 per share

!

S

All is fine as long as they keep paying the United sponsorship cash

pickles110564

StevieJ wrote: »

All is fine as long as they keep paying the United sponsorship cash

I think you will find that they no longer sponser Man U

bubblesmoney

VIX Premium Shows Stocks Bear Market Lasting 2 Years

Wookster

purch wrote: »

Yeah.

Stock prices usually go through the roof when a company announces a 62% drop in profits and a £12.5 Billion rights issue :eek:

How has HSBC done compared to their peers?

The impairment (write down on an investment) was $10B iirc - it is a one off non repeating charge, when this exceptional is added back HSBC profits are down less than 30%.

Impressive performance given the current trading climate don't you think?

Regarding the rights issue, HSBC has always been one of the most highly capitalised banks, the rights issue maintains that.

chewmylegoff

Wookster wrote: »

The impairment (write down on an investment) was $10B iirc - it is a one off non repeating charge, when this exceptional is added back HSBC profits are down less than 30%.

if we strip out all of the "one-off non-repeating charges" from the accounts of all the banks this year then we'd probably find that most of them were only down by about 30%.

purch

How has HSBC done compared to their peers?

Ok...we will write this 20% drop today as a minor blip.........once the market reads your expert analysis they will see the error of their ways !!!

Graham_Devon

purch wrote: »

Ok...we will write this 20% drop today as a minor blip.........once the market reads your expert analysis they will see the error of their ways !!!

In a simple comparison against other major players, HSBC has done very well, still turning a profit.

It would be absolutely stupid to try and twist it into anything else, especially with possibly the biggest player, RBS, approaching nationalisation.

Is this bear / bull role reversal!!? Or is it simply "I must find something wrong here, lets spin!"

Anyway, FTSE ended at 3625. Expect another slump tommorow.

alunharford

Just dropped below 3600 in out of hours trading. Don't expect a big recovery tomorrow.