Berenberg upgrades HSBC to 'buy'
3rd May 2023 14:04
(Sharecast News) - Berenberg upgraded HSBC to 'buy' from 'hold' on Wednesday, keeping the price target at 780p, as it said the bank's return on tangible equity of around 13% and attractive growth potential are undervalued.
Read moreHSBC reinstates dividend as Q! profits treble
2nd May 2023 07:01
(Sharecast News) - HSBC reinstated its dividend and announced a new round of share buybacks as it trebled first-quarter profits on the back of rising interest rates.
Read moreSunday newspaper round-up: HSBC, North Sea, Capita
30th Apr 2023 14:43
(Sharecast News) - The heads of HSBC are facing a major public standoff with those of its shareholders who are keen to break up the lender. Those include its largest shareholder, Chinese insurer Ping An, which has been pushing for a spin off of its lucrative Asian business and which has redoubled its efforts in recent weeks. Ping An is expected to vote for two proposals from a group of angry Hong Kong retail investors calling for a regular strategy review and a higher dividend. - The Financial Mail on Sunday
Read moreSunday newspaper round-up: Inflation, National Grid, Rolls Royce
23rd Apr 2023 15:46
(Sharecast News) - Former Bank of England chief economist, Andy Haldane, believes that it is "pretty much nailed on" that inflation will halve over the next six months as energy price increases slow down. But in remarks to Sky News, Haldane cautioned that hikes in Bank Rate had yet to impact borrowing costs for many borrowers, especially those on fixed-rate mortgages. "The effects of the tightening so far haven't been fully felt. That would give me cause for pause. I'd think, hang on, the economy is still on unsteady legs right now. Much of the tightening that has already happened hasn't hit people's bank accounts. Perhaps now is the time to press the pause button and see what happens." - Guardian
Read moreHSBC's largest shareholder to back plans from activist investors - report
17th Apr 2023 14:21
(Sharecast News) - HSBC's largest shareholder is reportedly likely to give its backing to shareholder resolutions that would force the bank to provide regular updates on the structure of its Asian business and restore the dividend to its pre-Covid level.
Read moreSector movers: Banks pace gains
14th Apr 2023 17:51
(Sharecast News) - Bank shares paced gains at the end of the week amid a raft of well-received sector earnings on the other side of the Atlantic and due to the possibility of further rate hikes in both the US and UK.
Read moreHSBC says sale of French retail banking arm could fall through
14th Apr 2023 13:08
(Sharecast News) - HSBC cautioned on Friday that the sale of its French retail banking arm to Cerberus-backed My Money Group may not go ahead as planned due to interest rate increases in France.
Read moreBoE hikes by 25bp, says inflation likely to fall sharply over rest of 2023
23rd Mar 2023 10:14
(Sharecast News) - The Bank of England went ahead and raised rates as expected, saying that global growth was expected to be stronger than anticipated in the February Monetary Policy Report.
Read more'HSBC built for times like this', BofA says, stays at 'buy'
13th Mar 2023 13:04
(Sharecast News) - Analysts at Bank of America reiterated their 'buy' recommendation on shares of HSBC telling clients that the lender was "built for times like these".
Read moreHSBC buys SVB UK unit after frantic overnight talks
13th Mar 2023 07:04
(Sharecast News) - HSBC has bought the UK arm of stricken Silicon Valley Bank for a nominal £1, the Asia-focused bank said on Monday after a night of frantic negotiations involving government ministers and Bank of England officials.
Read moreSize of next Fed rate hike not yet decided, Powell says
8th Mar 2023 16:33
(Sharecast News) - Jerome Powell told US lawmakers that no decision had as yet been taken regarding the size of the potential rate hike at the central bank's 21-22 March policy meeting.
Read moreFed's Powell tells Senate 50bp rate hikes possible - if needed
7th Mar 2023 14:26
(Sharecast News) - The head of the Federal Reserve kept the door open to larger rate hikes - if needed - while pointing out that recent economic data had been stronger than expected.
Read moreChinese exports continue to decline in February
7th Mar 2023 07:52
(Sharecast News) - China's foreign trade surplus over the first two months of 2023 was larger than expected as the economy reopened and exports rebounded, while import growth lagged behind.
Read moreChinese factory sector activity rebounds more quickly than expected in February
1st Mar 2023 06:41
(Sharecast News) - Factory sector activity in the People's Republic of China ramped up more quickly than expected in February, the results of two closely followed surveys revealed.
Read moreSunday newspaper round-up: Brexit deal, HSBC, Fresh fruit
26th Feb 2023 14:16
(Sharecast News) - Deputy Prime Minister Dominic Raab has refused to say whether Parliament will vote on the government's new Brexit deal. He did however tell Sky's Sophy Ridge on Sunday programme that "Parliament will find a away to have its say". The plan was expected to be unveiled possibly as early as Monday. "We want to handle this properly and in the right way," he said. I think one thing we've learned with meaningful votes and various other things since 2016 and beyond is that you have to carry Parliament with you, and I'm confident we would be able to." However, as of Sunday, it appeared unlikely that the proposals would satisfy the ERG or DUP. - Sunday Telegraph
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