London close: HSBC weighs on markets despite strong data
5th Aug 2013 16:32
Worse-than-expected results from the FTSE 100's largest constituent, HSBC, hit markets hard on Monday though losses were limited by some strong economic data from across the globe. The FTSE 100 finished down 28 points at 6,620. Before HSBC's results were released, services data from the UK, Eurozo
Read moreSector movers: HSBC drags banks lower after H1 disappointment
5th Aug 2013 15:09
Heavy falls by HSBC, the largest listed company by market capitalisation in London, ensured that the banking sector was the worst performer on Monday, despite some impressive gains from smaller peer Lloyds. HSBC, which has a market cap of around £135bn by today's prices, disappointed analysts this
Read moreLondon midday: Markets shrug off strong data as HSBC disappoints
5th Aug 2013 11:45
Economic data came in strong on Monday morning but a poor reaction to results from banking giant HSBC was weighing on markets in London with the FTSE 100 erasing its earlier gains by midday. HSBC, the Footsie's largest company by market capitalisation (around £135bn by today's prices), disappointed
Read moreHSBC achieves rise in half-year profit
5th Aug 2013 09:02
HSBC Holdings reported a 10 per cent rise in half-year profits to 14.1bn dollars as it kept a tight rein on costs. However earnings fell short of the $14.6bn expected by the average of 14 analysts polled by the company due to a fall in revenue. Europe's biggest bank posted revenue of $34.4bn, down
Read moreLondon open: Stocks rise after China services data
5th Aug 2013 08:27
Markets opened with solid gains on Monday morning on the back of decent data from China, as sentiment recovered after a disappointing US jobs report last week. With US non-farm payrolls coming in below expectations on Friday, it has now sparked hopes that the Federal Reserve could delay tapering st
Read moreMonday newspaper round-up: RBS, online tax, GSK
22nd Jul 2013 06:57
Royal Bank of Scotland plans to increase its market share by half over the next year in an effort to be a key player in the UK mortgage market, The Guardian reported. The government-backed lender is now granting more than one in 10 new loans. Internet retailers including Ocado, Shop Direct and Bode
Read moreFTSE 100 movers: IMI gains after Citi comments
19th Jul 2013 11:56
Engineering firm IMI was a high riser on the Footsie on Friday after Citigroup named it a 'Most Preferred' stock. The broker said: "We see further significant margin upside at IMI, driven by both mix and restructuring. A strong balance sheet and yield are both supportive, too." In contrast, techn
Read moreBroker tips: Banks, Chemring, DCC
19th Jul 2013 11:25
Investec has downgraded its ratings for banking peer HSBC and RBS from 'buy' to 'hold' in separate research reports, reiterating its preference for rival Barclays. The broker pointed out that HSBC has marginally outperformed the FTSE 100 so far this year and now trades within just 4.0% of its 57-mo
Read moreBroker snap: Investec downgrades ratings for HSBC and RBS
19th Jul 2013 10:19
Investec has downgraded its ratings for banking peer HSBC and RBS from 'buy' to 'hold' in separate research reports, reiterating its preference for rival Barclays. HSBC Analyst Ian Gordon said that while HSBC is not overtly expensive, consensus forecasts for the dividend have "now caught up with o
Read moreLondon midday: Banks, miners provide a lift after China data
15th Jul 2013 11:42
Cyclical stocks welcomed in-line gross domestic product (GDP) figures from China on Monday morning with the FTSE 100 nearly hitting seven-week highs early on. London's benchmark index started the new week trading near the 6,600 level; the last time the FTSE 100 closed higher was on May 30th. Gains
Read moreLondon open: FTSE 100 near seven-week high after China data
15th Jul 2013 08:24
Worries about a sharp slowdown in China temporarily eased on Monday morning, pushing the FTSE 100 to levels not seen in nearly seven weeks. London's benchmark index started the new week trading near the 6,600 level early on. The last time the FTSE 100 closed higher was on May 30th. "European marke
Read moreLondon pre-open: Gains expected after in-line Chinese data
15th Jul 2013 07:29
A broadly in-line set of economic figures from China provided stock markets in Asia with a small boost on Monday, with London's FTSE 100 expected to follow suit early on. As expected, the annual rate of Chinese economic growth slowed down in the second quarter, from 7.7% to 7.5%. This will come as
Read moreHSBC to sell German private banking assets
15th Jul 2013 07:05
Global banking giant HSBC has announced its intention to offload its private banking division in Germany. HSBC Trinkaus & Burkhardt and HSBC Trinkaus Investment Managers, HSBC's subsidiaries based in Germany which work with corporate, institutional and wealthy private clients, have entered into an
Read moreLondon midday: Miners drag markets lower after Chinese data
10th Jul 2013 11:33
The FTSE 100 had slipped into the red on Wednesday morning with markets turning cautious ahead of a statement from the Federal Reserve, hoping for indications of when the central bank will begin to taper stimulus. Disappointing trade figures from China were also weighing on sentiment today, pressur
Read moreMoody's upgrades UK banking sector
10th Jul 2013 10:24
Moody's has changed its outlook on the UK banking system to 'stable' from 'negative' to reflect Britain's improved economic prospects. The ratings agency said the more stable UK economy had improved the outlook for borrowers being able to repay debts. There were also encouraging signs for profitabi
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