HSBC confirms plans for partial exit from London due to Brexit
18th Jan 2017 11:52
(ShareCast News) - HSBC will need to move roughly 1,000 London jobs to its Paris office due to Brexit, the bank's chief executive Stuart Gulliver confirmed on Wednesday. Following Theresa May's confirmation that the government plans to withdraw from the European single market, banks are likely to lo
Read moreHSBC upgrades Capital & Regional to 'buy'
9th Dec 2016 08:53
(ShareCast News) - HSBC has upgraded Capital & Regional, a British manager of shopping centres, to 'buy' from 'hold' but lowered its price target to 66p from 69p. The company's recent disposal of the Camberley shopping centre and refinancing has reduced the bank's equity valuation by £14.5m, equival
Read moreEC slaps €485m fine on HSBC, JPMorgan, Agricole for Euribor cartel
7th Dec 2016 10:52
(ShareCast News) - Competition regulators at the European Commission have fined HSBC, JPMorgan Chase and Crédit Agricole €485m for participating in a cartel in euro interest rate derivatives. The European Union's executive arm said the banks had breached EU antitrust rules by colluding on the key eu
Read moreMorgan Stanley upgrades HSBC to 'equal weight'
6th Dec 2016 09:13
(ShareCast News) - Morgan Stanley upgraded HSBC to 'equal weight' from 'underweight' and raised its price target to 645p from 550p. The broker upgraded the bank's stock as the revenue outlook has improved on better Asia pacific (APAC) loan growth and higher rates. "We have had an underweight rating
Read moreRBS fails stress tests, Barclays and StanChart stumble over hurdles
30th Nov 2016 07:33
(ShareCast News) - Royal Bank of Scotland has been forced to submit plans to improve its capital position after failing the Bank of England's annual stress tests, while rivals Barclays and Standard Chartered stumbled over some hurdles but not badly enough to require raising new funds. Despite these
Read moreCredit Suisse sees big Barclays rerating, neutral on Lloyds and HSBC
29th Nov 2016 10:02
(ShareCast News) - Credit Suisse initiated coverage on a number of UK banks on Tuesday, as it noted the regulatory agenda is heating up, starting with the stress test results on Wednesday, for which it reckons banks are "reasonably well placed". It started Barclays at 'outperform' with a 260p price
Read moreCiti and JPMorgan overtake HSBC to top list of globally important banks
21st Nov 2016 11:12
(ShareCast News) - The Financial Stability Board has updated its annual rankings of the most globally systemic banks in the world, with Citi rising to the top of the pile alongside JPMorgan Chase. HSBC dropped off the top spot in the rankings released by the FSB each year, which show the financial i
Read moreHSBC agrees to sell Lebanon business to Blom Bank
16th Nov 2016 12:21
(ShareCast News) - HSBC has agreed to sell its business in Lebanon to Blom Bank for an undisclosed sum. The bank said the deal, which is expected to take place in the first half of next year, "represents further progress in the execution of HSBC Group strategy". As at 30 June 2016, the business com
Read moreMonday broker round-up
14th Nov 2016 10:38
(ShareCast News) - Dairy Crest: JP Morgan keeps at neutral with a target price of 600p. Tesco: HSBC upgrades to buy with a 260p target. Inmarsat: Jefferies stays at buy with a 1245p target. Aggreko: Barlcays reiterates overweight with a 1000p target. SSE: Goldman Sachs keeps at neutral with a 160
Read moreBarclays raises target price on HSBC but leaves rating at 'equal weight'
8th Nov 2016 10:20
(ShareCast News) - Barclays left its rating on HSBC at 'equal weight' and raised its target price to 600p from 550p after the bank reported its third quarter results. HSBC on Monday posted a 86% drop in third quarter pre-tax profits to $0.84bn, while revenue fell 37% to $9.5bn, both on a reported ba
Read moreSector movers: Steel and mining stocks rise as futures surge
7th Nov 2016 15:50
(ShareCast News) - Steel and mining stocks paced gains as key commodity futures surged at the start of the week. On 4 November, the local government of China's largest steel city, Tangshan, issued an urgent notice ordering all coking and sintering plants, together with blast furnaces, to halt produc
Read moreHSBC hails benefits from Brazil exit as underlying profits beat forecasts
7th Nov 2016 07:03
(ShareCast News) - HSBC reported that profits in the third quarter fell 86% compared to last year due to the disposal of its Brazilian bank, but underlying profits were higher in all four of its business functions and better than the market expected. The FTSE 100 bank lifted revenues and continued t
Read moreTuesday newspaper round-up: Rolls-Royce, Carney, new bank probe
1st Nov 2016 07:00
(ShareCast News) - Rolls-Royce, Britain's leading manufacturing multinational, hired a network of agents to help it land lucrative contracts in at least 12 different countries around the world, sometimes allegedly using bribes. An investigation by the Guardian and the BBC has uncovered leaked docume
Read moreSunday newspaper round-up: More 'Nissan' deals, Carney, RBS, HSBC, Capita
30th Oct 2016 14:52
(ShareCast News) - Pharmaceuticals giants want the government to plug a £1bn-a-year funding gap that will be created when Britain leaves the EU, as part of a list of demands being drawn up by big business after last week's deal with Nissan. After the Japanese car maker said it would make two new mod
Read moreBanks' mortgage approvals rebound from low, BBA data shows
26th Oct 2016 09:12
(ShareCast News) - Mortgage approvals from high street banks rebounded slightly in September, according to data from high street banks, after hitting a 19-month low in August. The British Bankers' Association (BBA) revealed mortgage approval numbers in September of 38,252, which was up from 37,241 i
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