Tuesday broker round-up
12th May 2015 12:59
HSBC: Macquarie downgrades to underperform and lowers target to 520p from 600p. StanChart: Macquarie downgrades to underperform and lowers target to 850p from 950p. easyJet: Panmure Gordon reiterates buy with 2,000p target, Numis stays at buy with 2,100p target. Mitchells&Butlers: JP Morgan Cazeno
Read moreMacquarie downgrades HSBC and StanChart
12th May 2015 09:03
On Tuesday analysts at Macquarie downgraded their recommendations on shares of HSBC and Standard Chartered. The Australia-based broker lowered its recommendation on the former by two notches to underperform. The broker thinks it may be the first big bank to break-up. They set a price target of 520
Read moreLondon open: Miners lead stocks higher after China rate cut
11th May 2015 09:14
UK stocks extended gains on Monday with the Footsie once again nearing record highs, as mining stocks reacted positively to another rate cut in China. After surging 2.3% on Friday in the aftermath of the Conservative's election victory, the FTSE 100 was up a further 0.37% on Monday morning at 7,073.
Read moreHSBC sets aside £8bn for small businesses
11th May 2015 08:49
Banking giant HSBC has allocated £8bn to lend to small and medium-sized businesses in Britain, the FTSE 100 group said on Sunday. The lender said its small and medium-sized enterprises (SME) loan offering will see Manchester, Birmingham and Manchester receive at least £400m each, with an additional
Read moreMarket overview: Stocks surge on election results
8th May 2015 08:56
1630: Close Stocks ended day sharply higher following the surprise win by the Conservatives. Various issues received a significant boost as traders readjusted their positions to the prospect that the current economic policy settings would be maintained and the implications that would have for those
Read moreUBS raises HSBC price target
6th May 2015 14:09
UBS raised its price target on HSBC on Wednesday to 625p from 600p as it upgraded its forecasts following the company's first-quarter results. UBS raised its diluted earnings per share estimate for this year to $0.84 from $0.78 to incorporate the beat from better trading revenues and lower impairmen
Read moreHSBC sells UK probate services business to Simplify Channel
6th May 2015 11:36
HSBC said one of its subsidiaries, HSBC Trust Company Limited (HTCU), has reached an agreement to sell its UK probate services business to Simplify Channel. In a short statement released on Wednesday, the FTSE 100 bank said as part of the transaction, which is expected to be finalised by the end of
Read moreLondon close: FTSE hits one-month low as HSBC leads late sell-off
5th May 2015 16:47
Underwhelming results from banking heavyweight HSBC offset a late rally in the mining sector on Tuesday, with UK stock markets dropping into the red by the close. The FTSE 100, which rose to a high of 7,053.18 early on, finished down 58.37 points (-0.84%) at 6,927.58. This was the index's lowest clo
Read moreFTSE 100 movers: Aberdeen lower on accelerating outflows, HSBC underwhelms
5th May 2015 13:21
Asset manager Aberdeen led the fallers as it reported an accelerating outflow of funds, with £11.3bn withdrawn by investors in the six months to 31 March. HSBC was trading lower, after underwhelming with its first-quarter results despite profits coming in ahead of expectations. Reported pre-tax prof
Read moreLondon midday: Markets up but gains limited ahead of election
5th May 2015 11:37
Stocks started the shortened trading week positively on Tuesday, taking their cue from gains in Europe and the US the previous day. After being closed on Monday for the bank holiday, the FTSE 100 was up 0.38% at 7,012.52 by midday, rising for the third straight session. However, falls from HSBC, mi
Read moreHSBC beats forecasts as first-quarter profits hit $7.1bn, CEO fires bank levy warning
5th May 2015 09:42
First-quarter profits and earnings from HSBC beat market expectations as the bank recovered well from a difficult end to 2014, but said the dividend was coming under pressure from the UK bank levy. Speaking to journalists and analysts on Tuesday, chief executive Stuart Gulliver warned "it's impossib
Read moreFriday newspaper round-up: Greek banks, Labour party, Ukraine
1st May 2015 06:59
"Panicking pensioners queued at banks, raided their accounts and broke into a board meeting of the state pension fund yesterday as Greece struggled to pay its two million pension recipients," The Times writes. Labour leader Ed Miliband has ruled out a coalition with the Scottish National Party, sayi
Read moreHSBC reportedly to cut 230 jobs in Switzerland
29th Apr 2015 14:28
Banking giant HSBC is set to cut approximately 260 jobs in its Swiss division over the next two years, as the business shifts to a new computer system. The London-listed group, one of the biggest lenders in the world, confirmed it was making a strategic investment in a new "core banking platform", a
Read moreHSBC and Standard Chartered not leaving London reckon brokers
27th Apr 2015 15:54
Reports that HSBC was examining a potential flotation or sale of its UK high street bank led to its shares, and those of Standard Chartered, rising strongly on Monday. Analysts argued that the move looked to be politically motivated and was unlikely to happen in the short-term. Credit Suisse said a
Read moreFTSE 100 movers: HSBC soars on potential high street spin-off, house builders lower
27th Apr 2015 13:27
HSBC surged as reports emerged that it may spin-off its UK high street banking business, ahead of a review of its headquarters' location. Asia-facing bank Standard Chartered, also situated in London, rose on speculation it could follow suit with a move out of the capital. Prudential was making gain
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