Wednesday 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
Read moreBroker tips: HSBC, Glencore, Rio Tinto, Bovis Homes, LSE
23rd Feb 2015 11:57
An uncertain outlook at HSBC is likely to keep the market cautious about the global lender, according to Hargreaves Lansdown Stockbrokers, after 2014 results on Monday came in below forecasts. Head of equities Richard Hunter said: "Given the wider sectoral issues, HSBC has had a difficult year, with
Read moreHSBC likely to remain a 'hold' as results disappoint, says Hargreaves Lansdown
23rd Feb 2015 09:24
An uncertain outlook at HSBC is likely to keep the market cautious about the global lender, according to Hargreaves Lansdown Stockbrokers, after 2014 results on Monday came in below forecasts. "Disappointing numbers and a cautious outlook from HSBC resulted in some strong negative pressure on its sh
Read moreLondon open: Weak HSBC results keep FTSE flat early on
23rd Feb 2015 08:54
After briefly testing an all-time high on the back of Greece's bailout extension, the FTSE 100 quickly reversed into the red on Monday morning on the back of disappointing results from banking heavyweight HSBC. HSBC's shares were down as much as 5% early on after the global lender reported a drop in
Read moreHSBC reports 17% drop in annual pre-tax profit
23rd Feb 2015 08:17
HSBC has reported a 17% drop in pre-tax annual profit to $18.68bn, after the lender was hit by fines for its involvement in the foreign exchange rigging scandal. The bank's profits missed the $21.5bn that was estimated by analysts following $3.7bn in fines, settlements, UK customer redress and assoc
Read moreMonday newspaper round-up: HSBC chief, Terrorism, UK wages
23rd Feb 2015 05:56
Leaked files revealed that HSBC chief executive Stuart Gulliver hid millions of pounds in a Swiss account through a Panamanian company and is still tax domiciled in Hong Kong, according to The Guardian. A militant group told Muslims to attack Oxford Street and two London-based shopping centres late
Read moreMorgan Stanley picks Lloyds and Barclays as banks play "catch up"
20th Feb 2015 15:53
Morgan Stanley thinks European banks might now "start to play catch up" after an unusual period of underperformance in an improving macroeconomic environment. Although Greek concerns remain, the US investment bank believes some concerns about the banking sector are easing, such as deflationary risks
Read moreFriday newspaper round-up: Investment banking probe, British Gas, Bank mis-selling
20th Feb 2015 06:52
Investment banks in the UK are facing a competition probe by the Financial Conduct Authority, according to the Financial Times. The regulator "could force banks to stop selling products and be more transparent about how they charge clients", the paper said. Centrica's British Gas has said it might r
Read moreWednesday tips round-up: Wood Group, HSBC
18th Feb 2015 12:56
Investors should be wary of yesterday's surge in the shares of oil field services group Wood Group. The company reported a strong set of figures despite the recent drop in oil prices. However, one must keep in mind that most of that decline occurred towards the end of the year. That flattered the ou
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