BoE says size of investment banks leaves them vulnerable to risks
9th Mar 2015 16:53
With trading assets of 10 of the largest investment banks in the UK summing to more than £5trn, the sheer scale of these operations means that liquidity in financial markets can be vulnerable to the failure of a single firm. That was the message of the Bank of England's (BoE) latest quarterly bullet
Read moreLondon close: FTSE jumps to new record high on ECB stimulus
5th Mar 2015 16:24
Details of the European Central Bank's (ECB) quantitative easing package helped the FTSE 100 to another record close on Thursday, with financial stocks making solid gains by the end of the session. The Footise finished the day 41.9 points higher (+0.61%) at 6,961.14, surpassing a previous closing re
Read moreSector movers: StanChart and Barclays give banks a boost
4th Mar 2015 14:53
Decent gains from the likes of Standard Chartered and Barclays drove the UK banking sector higher on Wednesday. Emerging markets-focused lender Standard Chartered was rising 4.3% in afternoon trade despite announcing that adjusted pre-tax profits in 2014 dropped 25% to $5.2bn as operating income fel
Read moreMonday newspaper round-up: Scottish oil, HSBC, US army
2nd Mar 2015 06:47
The Scottish oil industry desperately needs state support to prevent drilling fields from becoming uneconomic and prematurely abandoned, Gordon Brown told The Guardian. MPs are set to question HSBC about its relationship with the leader of the BBC Trust after they found that the bank was paying her
Read moreSunday newspaper round-up: Opec, HSBC, Afren bid battle
1st Mar 2015 15:52
A fierce dispute is set to break out within the key organisation behind fixing world oil prices, according to the Sunday Telegraph. The Organisation of the Petroleum Exporting Countries (Opec) is torn about who will replace the current secretary general of the world's most powerful group of oil prod
Read moreSector movers: Lloyds and StanChart gain but banking sector edges lower
27th Feb 2015 15:14
The UK banking sector was slightly lower on Friday as well-received results from Lloyds and decent gains from Standard Chartered were offset by falls in the share prices of RBS, HSBC and Barclays. The sector was down around 0.5% on average. UK lender Lloyds was trading 1.1% higher despite 2014 resu
Read moreThursday newspaper round-up: HSBC, RBS, Pharmacyclics
26th Feb 2015 06:45
HSBC boss Stuart Gulliver apologised to MPs on Wednesday for the "unacceptable events" at the bank's Swiss subsidiary following revelations about tax-avoidance activities in the mid-2000s, reports The Independent. He said it had caused "damage to trust and confidence" in the company. RBS's chief exe
Read moreHSBC boss set to face grilling by UK MPs over tax scandal
25th Feb 2015 12:59
The head honcho of HSBC is set be grilled by Ministers of Parliament on Wednesday over the bank's controversial Swiss operations and his own personal financial affairs, according to press reports. Chief executive Stuart Gulliver has been summoned at the 11th hour by the House of Commons Treasury Sel
Read moreWednesday newspaper round-up: Greek bailout, HSBC boss, UK sends troops
25th Feb 2015 06:35
Doubts have shrouded whether Greece will follow its creditors' orders on budget cuts despite Eurozone finance minister approval for a four-month bailout extension, wrote The Wall Street Journal. HSBC's boss Stuart Gulliver has been summoned by MPs to give evidence alongside the company's chairman on
Read moreBroker tips: HSBC, GKN, Persimmon
24th Feb 2015 12:40
UBS has downgraded HSBC from 'buy' to 'neutral' after Monday's disappointing 2014 results, saying that revenue momentum at the bank lost steam in the fourth quarter. It also said HSBC's capital position disappointed and foresees "at least another two years of de-leveraging ahead". The broker lowered
Read moreUBS downgrades HSBC to 'neutral' as capital buffers disappoint
24th Feb 2015 09:48
UBS has downgraded HSBC from 'buy' to 'neutral' after Monday's disappointing 2014 results, saying that revenue momentum at the bank lost steam in the fourth quarter. It also said HSBC's capital position disappointed and foresees "at least another two years of de-leveraging ahead". The broker lowere
Read moreLondon close: HSBC dampens sentiment as investors wait on Greek news
23rd Feb 2015 16:30
A plunge in the share price of HSBC, falling commodity stocks and a lack of news regarding Greece ensured that UK equity markets remained in the red on Monday, with investors cautious with shares near all-time highs. HSBC dropped nearly 5% after the global lender missed forecasts with a sharp drop i
Read moreLondon midday: HSBC drags UK stocks lower despite progress in Greece
23rd Feb 2015 15:31
European markets breathed a sign of relief on Monday as concerns over Greece eased, though UK stocks didn't join in with the rally after HSBC disappointed with results and commodity stocks weakened. HSBC had fallen nearly 6% after the global lender missed forecasts with a sharp drop in profits for 2
Read moreFTSE 100 movers: HSBC lower on tax scandal fines, LSE boosted by higher price target
23rd Feb 2015 14:59
HSBC was among the fallers after reporting a 17% drop in pre-tax annual profit to $18.68bn, as the lender was hit by fines for its involvement in the foreign exchange rigging scandal. Chief executive Stuart Gulliver said 2014 was a "challenging year in which we continued to work hard to improve busi
Read moreSector movers: Banking sector falls as HSBC disappointment offsets gains elsewhere
23rd Feb 2015 14:56
A 5% drop in the share price of HSBC pushed the banking sector firmly into the red on Monday even though shares of other lenders were making gains. Lloyds and RBS were still in positive territory in afternoon trade and Barclays was more or less flat, but given HSBC's size the whole sector was regis
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