HSBC in talks over potential sale of Pakistani operations
27th Feb 2014 10:38
HSBC's indirect wholly-owned subsidiary, HSBC Bank Middle East, confirmed that it was in discussions with Meezan Bank about the possible sale of its Pakistani operations. The FTSE 100 banking giant said the discussions were at a preliminary stage and "may or may not lead to a sale". "Any sale wo
Read moreHSBC to sell Kazakhstan subsidiary
26th Feb 2014 09:26
HSBC Bank announced it is selling its wholly owned SB JSC HSBC Bank Kazakhstan to JSC Halyk Bank for $176m in cash, based on a net asset value 160m dollars. The transaction, subject to regulatory approvals and other conditions, is expected to be completed during the fourth quarter of 2014. HSBC sa
Read moreWednesday broker round-up UPDATE
26th Feb 2014 08:54
Anglo Pacific: FinnCap cuts target price from 279p to 216p, downgrades to hold. Ashmore Group: UBS reduces target price from 405p to 355p, while leaving its buy recommendation unchanged. Jefferies cuts target price from 475p to 375p, while its buy recommendation is kept. Barclays lowers target pric
Read moreLondon midday: Miners and fears about China provide drag
25th Feb 2014 11:30
- Concerns about China weigh heavy - Miners drag FTSE lower - Strong UK retail sales techMARK 2,897.56 -0.68% FTSE 100 6,806.47 -0.86% FTSE 250 16,467.74 -0.43% The FTSE was sitting firmly in the red by lunchtime today, falling back from yesterday's 14-year high as mining stocks dragged the index
Read moreTuesday broker round-up UPDATE
25th Feb 2014 08:40
African Barrick Gold: Canaccord Genuity raises target price from 205p to 315p and upgrades from hold to buy. Ashmore Group: Canaccord Genuity takes target price from 205p to 315p and downgrades from buy to hold. Associated British Foods: Jefferies increases target price from 2450p to 2600p retaini
Read moreTuesday tips round-up: HSBC, Hiscox
25th Feb 2014 07:13
HSBC's latest full-year results, with net profits at 18bn dollars, is evidence that the lender has plenty of scope left for dividends. That comes at a time when other banks cannot offer their shareholders such certainty. More importantly, following the completion of the Vodafone/Verizon deal last we
Read moreTuesday newspaper round-up: HSBC, Fukushima, US defence cuts
25th Feb 2014 06:17
More than 600 senior bankers and star dealmakers at HSBC will be paid six or seven-figure 'allowances' designed to bypass the European Commission's crackdown on excessive bonuses. In some cases, the new payments will be bigger than base pay, with Stuart Gulliver, the chief executive, due to receive
Read moreLondon close: Stocks end higher, boosted by gains Stateside
24th Feb 2014 16:32
- FTSE closes up 28 points, Bunzl leads - Yellen praised for strong G20 performance - Eurozone CPI revised slightly higher techMARK 2,917.47 +0.80% FTSE 100 6,865.86 +0.41% FTSE 250 16,539.29 +0.48% UK stocks got the week off to a decent start, lifted by strong performances from Vodafone and Bunzl
Read moreFTSE 100 movers: Vodafone rises after completion of share consolidation
24th Feb 2014 14:17
Vodafone shares were higher following the completion of the sale of its stake in Verizon Wireless and the attendant share consolidation. The sale has reduced the value of the telecoms giant by nearly 51bn pounds. The firm also announced its intention to redeem approximately 3.5bn pounds of its own n
Read moreSector movers: Mobile telecoms gain, industrial metals fall
24th Feb 2014 14:10
Shares of Vodafone gained once allowance was made for the share consolidation resulting from the disposal of its 45 per cent stake in US mobile phone company Verizon Wireless. Commenting on the outlook for the company, analysts at Deutsche Bank pointed out that adjusting for the costs associated wi
Read moreLondon midday: HSBC misses forecasts by a wide margin
24th Feb 2014 12:00
- HSBC misses profits forecasts by a wide margin - Credit Suisse and Panmure Gordon lift price targets for ABF - Carney dismissed banks' capital requirement concerns - Bunzl jumps on strong results techMARK 2,897.49 +0.11% FTSE 100 6,818.18 -0.29% FTSE 250 16,435.89 -0.15% Stocks were holding slig
Read moreBroker tips: HSBC, Bovis Homes, Rightmove
24th Feb 2014 11:43
HSBC´s management made good progress in 'right-sizing' the lender´s operations given the current capital regime and the bank continued to be well-capitalised under the new basel framework for regulatory capital, Canaccord Genuity explained to clients in a note on Monday. Nonetheless, the broker cut
Read moreCanaccord cuts target price on HSBC to 750p
24th Feb 2014 11:42
HSBC´s management made good progress in 'right-sizing' the lender´s operations given the current capital regime and the bank continued to be well-capitalised under the new basel framework for regulatory capital, Canaccord Genuity explained to clients in a note on Monday. Nonetheless, the broker cut
Read moreHargreaves says HSBC a 'core' sector investment despite 2013 profits at lower end
24th Feb 2014 10:44
Most analysts´opinions on HSBC continue to point towards a 'buy' despite concerns of volatality in emerging markets and 2013 results having come in at the lower end of expectations, Hargreaves Lansdown noted on Monday. The broker commented on how some of management´s efficiency targets were missed
Read moreHSBC profits up 9 per cent to 22.5bn dollars, missing forecasts
24th Feb 2014 08:53
Pre-tax profits at HSBC rose nine per cent in 2013 to 22.5bn dollars (consensus: 24.6bn dollars) as the company continued to slash costs and jobs in its drive to reduce operating expenses. It also warned that it expects "greater volatility in 2014 and choppy markets as adjustments are made to chang
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