HSBC pledges $2.5bn share buyback as interim profits plunge
3rd Aug 2016 07:15
(ShareCast News) - Amid continuing turbulent economic conditions, HSBC Holdings' profits plunged in the second quarter to push interim result south of market expectations, though the bank sweetened the pill with news of a $2.5bn (£1.8bn) share buyback thanks to the sale of its Brazilian business. In
Read moreTuesday broker round-up
2nd Aug 2016 10:58
(ShareCast News) - HSBC: Berenberg reiterates buy with a target price of 600p. Intertek: Numis maintains reduce with a 3100p target. Barclays: Citigroup reiterates buy with a 135p target. IAG: HSBC stays at reduce with a 325p target. Anglo American: UBS keeps at sell with a target price of 740p.
Read moreBank solvency in jeopardy if recession hits post Brexit
28th Jul 2016 16:17
(ShareCast News) - Britain's banking system will face a capital shortfall of £68bn if the UK hits a recession after it leaves the EU, according to Moody's. The ratings agency has carried out its annual stress test across British high street banks to see whether they have enough capital to withstand
Read moreHSBC forex exec reportedly arrested in New York
20th Jul 2016 14:44
(ShareCast News) - A foreign exchange executive at HSBC has reportedly been arrested at New York's John F. Kennedy airport, charged with front-running customer orders. According to press reports, head of foreign exchange cash trading Mark Johnson has become the first person to be charged in the Just
Read moreCapita bumps up forecast for 2016 dividends, mid-caps to take Brexit hit
18th Jul 2016 12:28
(ShareCast News) - The fall in sterling following Brexit would deliver an immediate boost to the value of companies' dividend payments but potential recessionary pressures would hit profits and dividends from UK-focused mid-caps hardest, Capita said in its second quarter 2016 Dividend Monitor. De
Read moreHSBC 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
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