HSBC to sell $1bn in assets
6th Oct 2011 10:53
HSBC has approached the top three property-and-casualty insurers in Japan about the sale of its non-life insurance business, which could fetch more than $1 billion, sources close to the matter said on Thursday, reports Reuters. AB
Read moreBroker tips: HSBC, Standard Chartered, Man Group, Ferrexpo
29th Sep 2011 12:09
UBS has cuts its target prices on the Asian-exposed banks HSBC and Standard Chartered, but it is concerns in Europe rather than Asia that concern the broker in both cases. It lowers its target price on HSBC to 530p from 545p, while keeping its "neutral" rating on the bank, after shaving its earning
Read moreBroker snap: UBS cuts HSBC and Standard Chartered price targets
29th Sep 2011 11:48
UBS has cut its target prices on the Asian-exposed banks HSBC and Standard Chartered, but it is concerns in Europe rather than Asia that concern the broker in both cases. It lowers its target price on HSBC to 530p from 545p, while keeping its "neutral" rating on the bank, after shaving its earnings
Read moreUPDATE: Broker tip round-up
29th Sep 2011 11:47
J.P.Morgan initiates coverage of International Airlines Group at 'overperform'. Citi reiterates 'buy' on Icap. Citi retains 'sell' on Homestore. Goldman Sachs 'upgrades' Kazakhmys to 'buy' from 'neutral'. Goldman Sachs downgrades Antofagasta to 'neutral' from 'buy'. Goldman Sachs upgrades Fi
Read moreUPDATE: Friday broker round-up
23rd Sep 2011 09:42
Tesco: Evolution upgrades from sell to neutral. Tesco: Nomura keeps its buy recommendation. Kingfisher: Nomura reiterates buy rating. Carnival: Charles Stanley keeps accumulate rating. HSBC: Evolution Securities maintains sell rating. Euromoney Institutional Investor: Investec retains buy rati
Read moreLondon close: Footsie jumps on euro hopes
15th Sep 2011 16:27
After an already strong start to trading on Thursday on the back of a Franco-German statement on Greece, markets across Europe surged following a European Central Bank (ECB) announcement in mid-afternoon, helping the Footsie in London finish over 2% higher. Early on, investors celebrated last night
Read moreBroker tips: UK banks, GKN, Kingfisher
15th Sep 2011 12:47
Nomura has upgraded banking giants HSBC and Barclays to buy, but downgraded Lloyds to neutral, after assessing the Independent Commission on Banking (ICB) report and Eurozone risks. "In our view, [HSBC's] relative performance will depend on risk appetite and in particular sentiment towards official
Read moreBroker snap: Nomura upgrades HSBC and Barclays, downgrades Lloyds
15th Sep 2011 12:14
Nomura has upgraded banking giants HSBC and Barclays to buy, but downgraded Lloyds to neutral, after assessing the Independent Commission on Banking (ICB) report and Eurozone risks. "The publication of the final ICB report reduces some of the uncertainty facing UK banks, although at the expense of
Read moreWednesday newspaper round-up: Banking reforms, News Corp, Intel
14th Sep 2011 06:30
Proposals for sweeping reforms to Britain's banks have reignited speculation that some big lenders may move their operations abroad. HSBC and Barclays have been given an incentive to shift all or part of their businesses overseas after the recommendations in Sir John Vickers' report on banking, anal
Read moreLondon close: Miners, banks unwanted as Footsie falls 1.6%
12th Sep 2011 16:28
Despite finishing over 1% down, the FTSE 100 managed to pull back slightly despite a broad sell-off across Europe and a mixed start on Wall Street. Concerns over Europe's sovereign debt crisis were escalated today on speculation that Greece is headed for a default. Meanwhile, Greece's prime ministe
Read moreHSBC to sell non-life insurance business
12th Sep 2011 13:16
HSBC, the largest European bank, has launched the sale of its non-life insurance business, according to sources cited by Reuters. That report places the value of the business, which in 2010 generated a pre-tax profit of about $1bn at that same level. HSBC's 16% stake in Ping An Insurance (Group)
Read moreLondon midday: Stocks stuck lower but Lloyds bucks trend
12th Sep 2011 12:03
The top share index is stuck firmly in negative territory as worries over the Eurozone crisis and possible effects on global growth continue. The UK has its own concerns though after the government-appointed Independent Commission on Banking has said British banks should separate their retail bank
Read moreLondon open: Stocks tumble after banking report
12th Sep 2011 08:24
Footsie has dived more than 100 points at the outset as the markets get to grips with the details of the Vickers report from the Independent Commission on Banking. British banks should separate their retail banking and investment banking divisions, the government-appointed Independent Commission o
Read moreLondon pre-open: Triple digit fall as market digests ICB report
12th Sep 2011 07:32
The Footsie is set to dive more than 100 points at the outset as the markets get to grips with the details of the Vickers report from the Independent Commission on Banking. British banks should separate their retail banking and investment banking divisions, the government-appointed Independent Com
Read moreUS analyst warns against punishing banks
6th Sep 2011 15:25
Banking reforms being driven through by the US government could force the country into a recession, according to analyst Dick Bove. His warning follows news that the Federal Housing Finance Agency is to sue 17 banks over sub-prime mortgage lending, including Royal Bank of Scotland, Barclays and HSB
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