Nov 6, 2020

HSBC insiders buy into mini-rally

In the past month, the share price of HSBC has changed trajectory. At 335p, the stock is now up 19 per cent on September's multi-decade low, compared to a rise of less than 2 per cent for Asia-focused rival Standard Chartered. Still, we are minded to agree with the stock's analysts, just a fifth of whom rate the shares a 'buy', according to FactSet. Chief financial officer Richard Harris, non-executive chairman Ian Barlow and independent non-executive director Alan Giles bought in aggregate shares worth just over £125,000. With the return of rental demand in the capital also uncertain, the odds of the shares re-rating in the near term looks unlikely.

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