EU charges HSBC, JP Morgan and Credit Agricole with Euribor rigging
20th May 2014 14:30
HSBC, JP Morgan and Credit Agricole on Tuesday were charged by the European Union (EU) antitrust regulators with rigging financial benchmarks linked to the euro. The European Commission said it has concerns that the three banks may have taken part in a collusive scheme which aimed to distort the no
Read moreLondon open: AstraZeneca leads markets lower as shares sink
19th May 2014 08:33
- AstraZeneca drops sharply after rejecting Pfizer offer - Banking, mining stocks fall - China property concerns weigh on sentiment techMARK 2,714.40 -1.13% FTSE 100 6,823.23 -0.48% FTSE 250 15,475.65 +0.50% UK stocks fell on Monday morning with AstraZeneca leading the decline after rejecting a fi
Read moreWednesday broker round-up UPDATE
14th May 2014 09:34
African Minerals: Deutsche Bank lowers target price from 335p to 324p maintaining a buy recommendation. Aveva: Panmure Gordon downgrades from buy to hold with a target price of 2199p. Aviva: Panmure Gordon ups target price from 540p to 585p and keeps a buy recommendation. boohoo.com: Investec ini
Read moreWednesday newspaper round-up: Deflation, HSBC, GSK
14th May 2014 07:13
A sustained period of deflation in the Eurozone could derail Britain's recovery, a group of leading economists has warned. Almost half of the economists surveyed by the Centre for Macroeconomics, a joint study between the Bank of England, the National Institute of Economic and Social Research and th
Read moreHSBC sells Pakistan bank
9th May 2014 12:45
HSBC Middle East has entered into an agreement to sell its banking business in Pakistan to Meezan Bank. The move comes less than a year after failing to receive regulatory approval to sell it to another company, according to Reuters. The Pakistan-based unit has 10 branches along with gross assets
Read moreSector movers: Barclays and StanChart give banks a boost
8th May 2014 15:36
Well-received first-quarter updates from the likes of Barclays and Standard Chartered gave UK banking stocks a boost on Thursday. Barclays led London's blue chips higher in afternoon trade, up 8.6%, after it pleased the City with plans to slash 14,000 jobs in 2014 across the group as it aimed to be
Read moreBroker tips: Barclays, HSBC, Sage, WM Morrison
8th May 2014 12:48
Investec has applauded Barclays' Group Strategy Update on Thursday, after the bank announced a new round of jobs cuts, mainly in its investment bank (IB), as part of its 'bold simplification'. "Barclays is already a low-risk, profitable bank, but today's 'reset' is about rightsizing the bank to ref
Read moreUBS cuts target for HSBC after weak Q1 revenue performance
8th May 2014 10:01
UBS has lowered its target price for HSBC from 665p to 630p and kept a 'neutral' rating following the bank's first-quarter results, saying that it is still waiting on revenue momentum to resume. HSBC's pre-tax profit fell 20% year-on-year to $6.8bn, slightly below UBS' forecast for $6.9bn, though t
Read moreThursday broker round-up UPDATE
8th May 2014 08:40
Anglo American: Deutsche Bank ups target price from 1510p to 1550p and retains a hold recommendation. Balfour Beatty: Berenberg reduces target price from 350p to 290p and keeps a buy recommendation. BBA Aviation: JP Morgan cuts target price from 386p to 369p retaining an overweight rating. Bodyco
Read moreThursday newspaper round-up: Housing, Barclays, Reckitt Benckiser
8th May 2014 07:05
HSBC said it was on alert for the Bank of England to intervene in the housing sector amid growing concern that a collapse in the booming London market could threaten Britain's economic recovery. The bank's finance director, Iain Mackay, said: "What we are all are all waiting for or perhaps wondering
Read moreBroker tips: HSBC, AstraZeneca, Rolls-Royce...
7th May 2014 13:34
HSBC shares will continue to underperform the wider banking sector following the company's 'mixed' first-quarter results, according to wealth manager Brewin Dolphin. Overall, we would argue that this is a mixed set of results: costs, impairments and capital were all either better or in line with ex
Read moreBrewin expects HSBC shares to underperform after mixed Q1
7th May 2014 13:10
HSBC shares will continue to underperform the wider banking sector following the company's 'mixed' first-quarter results, according to wealth manager Brewin Dolphin. The bank reported a pre-tax profit of $6.79bn in the first quarter, down 20% year-on-year but above the company-compiled consensus es
Read moreLondon midday: Stocks slip on mixed earnings, Ukraine tensions
7th May 2014 11:57
- Markets give mixed reaction to corporate earnings - Ukraine tensions continue to rise - Investors nervous ahead of Yellen speech techMARK 2,783.30 -0.31% FTSE 100 6,773.54 -0.37% FTSE 250 15,890.46 -0.30% A flurry of mixed corporate earnings pushed UK markets lower on Wednesday morning, while in
Read moreHSBC´s first quarter revenues weighed down by Asia and Latam - UPDATE
7th May 2014 09:34
- Pre-tax profit down 20 per cent - Impairments, costs fall - Revenue declines 14 per cent - 'Muted' customer activity noted in April Global banking giant HSBC reported a 20 per cent drop in profits in the first quarter despite lower impairments and costs, mainly as revenues fell in Asia and La
Read moreEarthport wins multi-year contract with HSBC
6th May 2014 09:35
AIM-listed Earthport, the cross-border payments service provider, announced it has signed a multi-year contract with HSBC with a 'significant' minimum revenue commitment. The contract will allow the group to expand the coverage of its global disbursements product across countries in Central and Eas
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