HSBC escaped US money laundering charges amid financial disaster fears
12th Jul 2016 08:48
(ShareCast News) - HSBC escaped prosecution from US officials in 2012, after accusations of money laundering led to fears that the bank's failure could lead to a "global financial disaster", according to a report published on Monday. Bank was accused of allowing drug cartels to launder money in US b
Read moreBroker tips: Moneysupermarket, HSBC, G4S
4th Jul 2016 11:02
(ShareCast News) - Shares in Moneysupermarket.com tumbled on Monday after Barclays downgraded the price comparison website to 'equalweight' from 'overweight' and slashed the price target to 260p from 390p. The bank said it had been positive on the stock since initiating on it last year, but that unc
Read moreInvestec cuts HSBC to 'sell' from 'hold'
4th Jul 2016 09:52
(ShareCast News) - Investec downgraded HSBC to 'sell' from 'hold' and cut the price target to 425p from 450p. The brokerage argued that former HSBC CEO Mike Geoghegan played a key role in the UK's decision to leave the European Union, articulating his view of a clear business-positive impact from Br
Read moreHSBC completes sale of Brazilian operations
4th Jul 2016 07:11
(ShareCast News) - HSBC confirmed the completion of the sale of its Brazil business on Monday, after announcing on 8 June that it had received all necessary regulatory approvals for the transaction. The FTSE 100 bank had put HSBC Brazil on the market as part of its efforts to streamline the global b
Read moreTuesday broker round-up:
28th Jun 2016 16:16
(ShareCast News) - Just Eat: Goldman Sachs reiterates buy with a target price of 670p. G4S: Credit Suisse keeps at outperform with a 210p target. Bellway: Goldman Sachs keeps at neutral with a target price of 1715p. Northgate: Numis reiterates to buy with a target of 500p. Babcock: Credit Suisse
Read moreBroker tips: ITV, Randgold Resources, Fresnillo, UK banks
27th Jun 2016 17:00
(ShareCast News) - Nothing had changed with respect to ITV's fundamentals following Brexit despite the approximately 20% share price drop on 24 July, analysts at Liberum said, as they stood by their 'buy' recommendation and 375p target on the stock and singled it out as a 'top-pick'. That was true e
Read moreMortgage lending resilient in May but likely to fall post referendum - CML
27th Jun 2016 10:37
(ShareCast News) - Mortgage lending remained resilient in May as banks and building societies lent more than in April and than in May last year. Gross mortgage lending swelled to £18.2bn in May, the Council of Mortgage Lenders estimated, up 3.6% from the preceding month and 13.6% higher than this ti
Read moreSocGen downgrades European banks, reviews ratings on UK banks after Brexit
27th Jun 2016 09:56
(ShareCast News) - Banks in London took another beating on Monday as investors mulled over the implications of the UK's decision to leave the European Union, with ratings downgrades across the board. Societe Generale was among those issuing downgrades. It cut its stance on Royal Bank of Scotland to
Read moreSocGen outlines post-referendum trade ideas
22nd Jun 2016 09:57
(ShareCast News) - Remain is the central scenario in Societe Generale's equity allocation model and the FTSE 100 is one of its preferred indices, the bank said as it outlined its equity trade ideas for both outcomes. In the event of a Brexit, SocGen expects that on 24 June and the following days, th
Read moreHSBC to pay $1.75bn to settle Household Intl class action
17th Jun 2016 07:06
(ShareCast News) - HSBC said it will pay $1.57bn to end a class action lawsuit over its 2003 purchase of Household International that could have exposed it to $3.6bn in payouts. The bank said it would take a pre-tax charge of around $585m in the second quarter. HSBC merged Household International w
Read moreHSBC Brazil sale receives regulatory approval
9th Jun 2016 07:34
(ShareCast News) - HSBC's planned sale of its Brazil business to Bradesco reached a new milestone on Thursday, as the bank announced it has received unanimous approval from the Brazilian Administrative Council for Economic Defence. The FTSE 100 bank had announced its agreement to sell its entire bus
Read moreHSBC awaits Brazil watchdog ruling on proposed sale of Bradesco
8th Jun 2016 16:29
(ShareCast News) - Brazil's commerce watchdog, Cade, is set to rule today on whether Asia-focused bank HSBC can sell its Brazilian unit to Banco Bradesco SA. The decision has potentially big implications for HSBC and its shareholders going forward. Chief executive Stuart Gulliver is said to be coun
Read moreHSBC to restructure its global banking division
6th Jun 2016 15:05
(ShareCast News) - HSBC is to restructure its investment banking division in an effort to make the business more "agile and holistic" and save money according to a memo seen by Reuters. The bank will create a new group called Corporate, Financials and Multinationals Banking that will integrate the t
Read moreBroker tips: HSBC, PZ Cussons, IG Group
3rd Jun 2016 10:57
(ShareCast News) - Investec downgraded HSBC to 'hold' from 'buy', pointing to just under 1% residual upside to its unchanged 450p price target. "Our continuing belief that HSBC can, should and will maintain an (uncovered) 51c dividend, an implied 2016e dividend yield of 7.9% is, by itself, insuffici
Read moreInvestec downgrades HSBC, recommends taking profits in June
3rd Jun 2016 07:46
(ShareCast News) - Investec downgraded HSBC to 'hold' from 'buy', pointing to just under 1% residual upside to its unchanged 450p price target. "Our continuing belief that HSBC can, should and will maintain an (uncovered) 51c dividend, an implied 2016e dividend yield of 7.9% is, by itself, insuffici
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