SocGen 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
Read moreTuesday newspaper round-up: HSBC, Brexit polls, Alliance Trust
31st May 2016 07:05
(ShareCast News) - HSBC's Stuart Gulliver is the European bank chief executive who investors would most like to be replaced, according to a recent poll of large shareholders. When 74 institutional investors were polled by Autonomous Research and asked to each name three banks in Europe "most in need
Read moreTuesday newspaper round-up: US libor case, UK fracking decision, CNH
24th May 2016 06:52
(ShareCast News) - A US appeals court has reinstated a civil lawsuit accusing 16 major banks of conspiring to manipulate the Libor benchmark interest rate. The ruling, which overturns a 2013 decision, could bankrupt the institutions, the judges warned. A lower court judge erred in dismissing the ant
Read moreWednesday newspaper share tips: Lloyds, Premier Foods
18th May 2016 13:07
(ShareCast News) - UK's big banks are at a nadir in their fortunes and yet to enjoy a sustained uplift in their business, albeit with fundamentals beginning to turn north, says the Financial Times' Lex column. Mortgage, credit card and personal lending all turned a corner in 2014, and in 2015 both L
Read moreBanks to limit overdraft charges as CMA demands only small changes
17th May 2016 07:06
(ShareCast News) - Banks will be forced to limit overdraft charges and introduce a new standard technology to enable consumers to more easily switch between providers, among several measures proposed by the competition watchdog to improve competition in retail banking. Concluding its investigation i
Read moreAnother 840 jobs to go at HSBC
16th May 2016 16:28
(ShareCast News) - HSBC announced the loss of 840 UK jobs on Monday, as it prepared to shed hundreds of IT jobs locally and ship them offshore. It was the latest in a series of swingeing cuts announced last June, when HSBC bosses said 8,000 staff would lose their jobs UK-wide. 595 of Monday's axing
Read moreBroker tips: HSBC, British Land, Crest Nicholson
16th May 2016 12:43
(ShareCast News) - Shore Capital reiterated its only 'buy' rating in the housebuilding sector on Crest Nicholson as the company released a half-year trading update. The broker said Crest, the most "strategically ambitious" of the larger housebuilders due to its growing focus on the institutional pri
Read moreDividend cut at HSBC would only make sense under one scenario, Berenberg says
16th May 2016 11:10
(ShareCast News) - HSBC had shown it had a tight grip on costs over the last two quarters and with management as focused as ever on risks the dividend was sustainable, Berenberg said. As risks continued to be re-priced, the lender's focus on risk should become more appreciated, with the dividend yie
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