Wednesday tips round-up: HSBC, Taylor Wimpey, Mouchel...
4th Aug 2010 06:42
HSBC is present in 87 countries around the world but is, sensibly, focusing its firepower on Asia because it believes the Chinese economy will outstrip the US by 2020. The market is expecting substantial increases in the dividend payment over the next few years with the prospective yield for the sh
Read moreLondon afternoon: Fire sale at BP continues
3rd Aug 2010 14:14
After yesterday's dramatic rise London is taking a pause for breath today and either digesting the steady stream of big company results already out this week or preparing for results from the giants of the insurance and banking sectors later this week. Insurance colossus Aviva , scheduled to releas
Read moreSantander nears RBS branch buy
3rd Aug 2010 11:40
Spanish bank Santander is expanding its overseas empire with the acquisition of 318 branches being sold by government-owned Royal Bank of Scotland (RBS). The sale, thought likely to make about £2bn, is part of a deal agreed with the European Commission as RBS's punishment for borrowing billions fro
Read moreLondon close: Footsie fights back
3rd Aug 2010 09:28
Footsie fought hard to finish in the blue after easing back following yesterday's surge, and was just a whisker short of positive territory at trading's close. An improvement on Wall Street after a shaky start breathed life into London's leading share index. Insurance colossus Aviva , scheduled to
Read moreTuesday newspaper round-up: HSBC, Santander, Wheat prices
3rd Aug 2010 06:52
HSBC, Britain's biggest bank, emphatically rejected suggestions yesterday that it was needlessly denying credit to small companies and claimed that most business customers were paying a lower rate of interest than before the credit crisis hit three years ago. Douglas Flint, its finance director, in
Read moreLondon close: Footsie soars as earnings impress
2nd Aug 2010 16:51
Footsie posted triple-digit gains as strong earnings here and elsewhere cheered investors. HSBC gave the banking sector a lift. The global banking giant's pre-tax profit more than doubled to $11.1bn on a reported basis, while underlying pre-tax profit rose by 30% to $9.6bn/ Loan impairment charges
Read moreSociete Generale To Become UK Gilt Primary Dealer
2nd Aug 2010 16:21
LONDON (Dow Jones)--French bank Societe Generale SA will become a primary dealer of U.K. government bonds, known as gilts, from September 1, 2010, the bank said Monday. Societe Generale will now participate directly in gilt auctions and take an active role in the issuance, distribution and marke
Read moreAfter Heavy Losses, HSBC To "Gently Grow" US Consumer Lending
2nd Aug 2010 15:53
By Margot Patrick Of DOW JONES NEWSWIRES LONDON (Dow Jones)--HSBC Holdings PLC (HBC) Monday said it plans to start "gently growing" its U.S. consumer finance business again, despite a quarter-on-quarter drop in profitability at the unit as the U.S. economy slowed. Chief Finance Officer D
Read moreFTSE 100 movers: Resources and banks head higher
2nd Aug 2010 15:36
Resources and bank shares are leading Footsie higher. Xstrata has signed a non-binding letter of intent to buy the 75% it does not own of the owner of the CEZ zinc refinery in Canada. The refinery processes zinc concentrate for Xstrata in return for a fee. The purchase will cost C$127.5m and the c
Read moreUS HOT STOCKS: NRG, Allergan, HSBC, Boyd Gaming, Arena Pharma
2nd Aug 2010 15:22
U.S. stocks traded higher Monday as the Dow Jones Industrial Average gained 1.2% to 10594, the S&P 500 grew 1.3% to 1115 and the Nasdaq Composite increased 1.1% to 2280. Among the companies whose shares are expected to actively trade in Monday's session are NRG Energy Inc.'s (NRG), Allergan Inc. (AG
Read moreSector movers: HSBC kicks off banks' results with a bang
2nd Aug 2010 15:19
The banking sector has jumped on soaring profits from HSBC. It gave a signal that the banking sector may be returning to normality after the credit crisis as it posted interim profits that more than doubled on the back of a sharp reduction in bad debts. In the half year to June 30, the bank saw pre
Read moreLondon afternoon: Triple digit rise for Footsie
2nd Aug 2010 14:20
The Footsie is sitting on a triple-digit gain though the benchmark index has largely traded sideways since 9:30 this morning when the purchasing managers index (PMI) for UK manufacturing was released. The index showed that activity in British factories grew at a slower pace in July, but the decli
Read moreBEFORE THE BELL: US Stock Futures Rally On Back Of HSBC Data
2nd Aug 2010 14:16
By Polya Lesova U.S. stock futures rallied on Monday, buoyed by strong earnings reports from HSBC Holdings and BNP Paribas, as investors awaited manufacturing data and comments on the economy from the Federal Reserve chairman. Futures on the Dow Jones Industrial Average jumped 124 points to
Read moreFinancial News: HSBC Invest Bank Aided By Asia, North America
2nd Aug 2010 14:08
By Matt Turner Of FINANCIAL NEWS HSBC's (HBC) investment bank delivered its second highest half-year performance as the U.K. bank relied on its Asian and North American units to maintain its strong growth. Pretax profits for the first half of 2010 were $5.6 billion in the global banking
Read moreUPDATE: Hang Seng Bank 1st-Half Net Up 8.4% On Higher Fees
2nd Aug 2010 13:04
(Adds details on net fee income, net interest margin and comments from bank's management about second-half outlook.) By Chester Yung Of DOW JONES NEWSWIRES HONG KONG (Dow Jones)--Blue-chip lender Hang Seng Bank Ltd. (0011.HK) said Monday its first-half net profit rose 8.4% from a year
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