Shares in Asia-focused lender HSBC (HSBA) have been understandably depressed since the second half of last year, as concerns mount over the US-China trade wars and a slowing Chinese economy. Perhaps it's unsurprising, then, that recently appointed chief financial officer Ewen Stevenson and global banking and markets boss Samir Assaf have both chosen to top-up their stakes in the lending giant.
It remains to be seen whether bosses will be able to take advantage of growth opportunities across Asia, while also keeping costs down. Geopolitical tumult has made that a tougher task, with market weakness resulting in missed revenue targets last year and total operating income of $68.6bn (£51.6bn). The group also reported negative adjusted 'jaws' – the difference between the rates of change in revenue and costs – of 1.2 per cent. There may be domestic challenges too, with expected credit losses slightly higher than loan impairment charges in 2017, reflecting "the uncertain economic outlook in the UK and heightened downside risks".
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Aberforth Smaller Companies Trust | Martin Warner | 20 Feb 19 | 1,000 | 1,219.70 | 12,197 | 2,000 | 0.002 |
| African Battery Metals* | Andrew Bell | 18 Feb 19 | 10,000,000 | 0.5 | 50,000 | 10,000,000 | 2.755 |
| African Battery Metals* | Paul Johnson | 18 Feb 19 | 10,000,000 | 0.5 | 50,000 | 10,000,000 | 2.755 |
| African Battery Metals* | Paul Johnson | 18 Feb 19 | 5,000,000 | 0.5 | 25,000 | 15,000,000 | 4.132 |
| Aminex* | Jay Bhattacherjee (ceo) | 14 Feb 19 | 1,034,482 | 1.45 | 15,000 | 47,441,297 | 1.258 |
| Aminex* | John Bell (ch) | 14 Feb 19 | 1,034,482 | 1.45 | 15,000 | 1,034,482 | 0.027 |
| Aminex* | Max Williams (cfo) | 14 Feb 19 | 1,034,482 | 1.45 | 15,000 | 5,519,130 | 0.146 |
| Aminex* | Linda Beal | 14 Feb 19 | 1,034,482 | 1.45 | 15,000 | 1,034,482 | 0.027 |
| Boxhill Technologies* | Catherine McCormick (fd) | 14 Feb 19 | 50,000,000 | 0.1 | 50,000 | 50,000,000 | 2.122 |
| Boxhill Technologies* | Edward Razzall (ch) | 14 Feb 19 | 30,000,000 | 0.1 | 30,000 | 92,965,986 | 3.946 |
| Castings | Adam Vicary (ceo) | 14 Feb 19 | 3,000 | 357 | 10,710 | 30,000 | 0.069 |
| CC Japan Income & Growth Trust | Kate Cornish-Bowden | 14 Feb 19 | 10,000 | 138.3 | 13,830 | 30,000 | 0.022 |
| CC Japan Income & Growth Trust | John Scott | 14 Feb 19 | 10,000 | 138.3 | 13,830 | 62,500 | 0.046 |
| City of London Investment Trust | Robert Holmes | 15 Feb 19 | 5,000 | 403 | 20,150 | 5,000 | 0.001 |
| Echo Energy | Martin Hull | 15 Feb 19 | 500,000 | 4.2 | 21,000 | 500,000 | 0.105 |
| Edinburgh Dragon Trust | James Will | 19 Feb 19 | 10,000 | 375.976 | 37,598 | 10,000 | 0.008 |
| Greene King | Richard Smothers (cfo) | 14 Feb 19 | 4,000 | 599.17 | 23,967 | 4,000 | 0.001 |
| Herald Investment Trust | Karl Sternberg | 20 Feb 19 | 1,500 | 1,223.70 | 18,356 | 5,078 | 0.007 |
| HSBC | Ewen Stevenson (fd) | 20 Feb 19 | 100,000 | 645 | 645,000 | 100,000 | 0.000 |
| Martin Currie Asia Unconstrained Trust | Anja Balfour | 15 Feb 19 | 5,970 | 381.55 | 22,779 | 12,000 | 0.033 |
| Metal Tiger* | Charles Hall (ch) | 18 Feb 19 | 4,000,000 | 1.45 | 58,000 | 41,394,699 | 2.915 |
| Metal Tiger* | Michael McNeilly (ceo) | 18 Feb 19 | 1,000,000 | 1.45 | 14,500 | 3,997,733 | 0.282 |
| Metal Tiger* | Terrence Grammer | 18 Feb 19 | 9,482,759 | 1.45 | 137,500 | 77,633,426 | 5.467 |
| MXC Capital | Peter Rigg (ch) | 20 Feb 19 | 32,000 | 62 | 19,840 | 249,947 | 0.372 |
| Primary Health Properties | Peter Cole | 20 Feb 19 | 50,000 | 118.35 | 59,175 | 50,000 | 0.006 |
| Reckitt Benckiser | Elane Stock | 19 Feb 19 | 1,860 | 6,232.82 | 115,931 | 1,860 | 0.000 |
| Rockfire Resources* | Gordon Hart (ch) | 19 Feb 19 | 8,823,530 | 0.85 | 75,000 | 8,823,530 | 2.363 |
| Schroder Japan Growth Fund | Anja Balfour (ch) | 15 Feb 19 | 18,000 | 188.8 | 33,984 | 27,000 | 0.022 |
| South32 | Ntombifuthi Mtoba | 19 Feb 19 | 2,500 | 2.14 | 5,356 | 50,793 | 0.001 |
| South32 | Ntombifuthi Mtoba | 19 Feb 19 | 612 | 2.14 | 1,311 | 53,905 | 0.001 |
| South32 | Ntombifuthi Mtoba | 19 Feb 19 | 600 | 2.14 | 1,286 | 45,793 | 0.001 |
| South32 | Ntombifuthi Mtoba | 19 Feb 19 | 5,000 | 2.14 | 10,722 | 44,548 | 0.001 |
| South32 | Ntombifuthi Mtoba | 19 Feb 19 | 645 | 2.14 | 1,383 | 45,193 | 0.001 |
| South32 | Ntombifuthi Mtoba | 19 Feb 19 | 2,500 | 2.14 | 5,361 | 48,293 | 0.001 |
| South32 | Ntombifuthi Mtoba | 19 Feb 19 | 2,500 | 2.14 | 5,361 | 53,293 | 0.001 |
| South32 | Ntombifuthi Mtoba | 19 Feb 19 | 1,268 | 2.14 | 2,720 | 39,548 | 0.001 |
| South32 | Ntombifuthi Mtoba | 19 Feb 19 | 875 | 2.15 | 1,877 | 38,280 | 0.001 |
| Supermarket Income REIT | Andrew Hewson (ch) | 14 Feb 19 | 20,000 | 103.8 | 20,760 | 380,000 | 0.206 |
| Victrex | Jakob Sigurdsson | 18 Feb 19 | 3,000 | 2,414.88 | 72,446 | 8,200 | 0.010 |
| Wynnstay | Gareth Davies (ceo) | 20 Feb 19 | 5,000 | 418 | 20,900 | 13,992 | 0.071 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Safestore | Ian Krieger | 19 Feb 19 | 20,000 | 593.25 | 118,650 | 0 | 0.000 |
| WH Smith | Robert Moorhead (fd) | 18 Feb 19 | 25,000 | 2,037.79 | 509,446 | 202,676 | 0.187 |
| * placing/tender/open offer ♥ spouse/connected party | |||||||
