Broker snap: HSBC's bad debt fears overblown

5th Jun 2009 13:19

Attention in the banking sector today is focused on Lloyds Banking Group's AGM, but Swiss bank UBS has been running the rule over HSBC and found cause to reiterate its recommendation to buy the shares.UBS reckons that losses from the bank's ill-advised Household acquisition will be lower than previously anticipated, while the situation on bad debts may not be as bad as feared.UBS has boosted its price target for HSBC from 625p to 675p.

Top Risers

Share	Price	Change
Artemis Res (ARV)	0.50	17.65%
Ukrproduct (UKR)	9.00	16.13%
WHIreland (WHI)	1.50	11.11%
Tern (TERN)	0.50	11.11%
Gunsynd (GUN)	0.16	10.34%

Top Fallers

Share	Price	Change
CloudCoCo (CLCO)	0.175	-16.67%
Xtract (XTR)	0.775	-13.89%
Focus Xplore (FOX)	0.0325	-13.33%
Nativo Resources (NTVO)	0.375	-11.76%
Buccaneer Ergy (BUCE)	0.0155	-11.43%

Top By Volume

Share	Price	Volume
Alba Mineral Resources (ALBA)	0.018	243,295,988
Tower Resources (TRP)	0.0335	163,474,940
Caledonian Hold (CHP)	0.003	148,624,756
Mosman Oil & Gas (MSMN)	0.0235	145,201,051
Mirriad Advertising (MIRI)	0.0105	129,331,362

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