HSBC discussing settlement with US regulators
24th Aug 2012 09:49
As US regulators turn up the heat in accusations of international banks that have allegedly laundered funds of sanctioned nations, global lender HSBC appears to be looking for a way out. The bank is apparently in talks with the Manhattan District Attorney to reach a settlement as early as Septembe
Read moreLondon open: Footsie falls before GDP data
24th Aug 2012 08:27
- Leader to discuss Greek extension - Markets nervous ahead of UK GDP - Anglo American leads miners lower London's benchmark index slumped in early trading on Friday with mining stocks once again dominating the downward trend ahead of meetings of Eurozone leaders and the release of economic growth
Read moreUS regulators call in banks over LIBOR scandal
16th Aug 2012 12:45
The LIBOR scandal is once again hitting the headlines with seven banks set to be called in for questioning in the US over the alleged rigging of inter-bank lending rates. HSBC, Royal Bank of Scotland, Barclays, Citigroup, Deutsche Bank, JPMorgan and UBS have all been subpoenaed by the Attorneys Ge
Read moreBroker tips: HSBC, StanChart, FirstGroup
15th Aug 2012 11:28
Investec has moved its recommendation on banking giant HSBC from 'buy' to 'hold', saying that there is limited upside left in the stock. The shares are trading just 2% below 12-month highs in spite of a "wide assortment of gathering headwinds." Investec said that the first-half results showed a "c
Read moreBroker snap: Investec downgrades HSBC, sees more upside elsewhere
15th Aug 2012 10:21
Investec has moved its recommendation on banking giant HSBC from 'buy' to 'hold', saying that there is limited upside left in the stock. "Despite recent relative share price underperformance, we would argue that HSBC's shares have held up reasonably well in the context of its broad-based money laun
Read moreWednesday broker round-up
15th Aug 2012 09:47
AB Foods: UBS raises target from 1,330p to 1,400p, buy rating unchanged. AVEVA: Jefferies ups target from 1,800p to 2,300p, buy recommendation maintained. Balfour Beatty: Investec maintains sell rating and 210p target. CLS Holdings: Peel Hunt ups target from 639p to 720p, hold rating kept. CRH:
Read moreHSBC 'no decision' on Bao Viet
9th Aug 2012 11:38
Europe's largest bank HSBC says it is 'reviewing its options' over a sale of its stake in Vietnamese insurance firm Bao Viet Holdings. Currently HSBC holds an 18% stake in the high profile company but press reports have suggested it is being considered for disposal. HSBC says: "no decision has bee
Read moreBroker snap: StanChart rebound lifts banks higher
8th Aug 2012 16:23
Banking stocks were trading broadly higher on Wednesday as gains for heavyweight lender Standard Chartered were enough to offset weakness in the wider sector, with HSBC, Lloyds, Barclays and RBS trading in the red. Following a massive 16% tumble yesterday, emerging markets-focused bank StanChart wa
Read moreBarclays plans 'bonus overhaul'
6th Aug 2012 10:47
There are widespread reports that Barclays is planning an overhaul of its bonus system, that could see payouts withheld until bankers leave the company. The stories, which reference unnamed sources, say Barclays is considering following in the footsteps of HSBC, which recently put forward plans to
Read moreBroker tips: Weir, Drax, HSBC
1st Aug 2012 13:22
Analysts at Credit Suisse have today raised their target price on Weir to 1850p from 1750p before, while keeping their overweight rating unchanged. That for three reasons: Firstly, the company´s estimated 2013 earnings per share (EPS) forecasts have declined 17% year-to-date better reflecting pres
Read moreNomura retains buy on HSBC on potential for cost savings
1st Aug 2012 12:25
The following is from a research note published yesterday evening by analysts at Nomura. "We remain positive on HSBC post results. We saw two principal take-aways from the 1H numbers. Firstly, the group is controlling costs, which suggests positive operating leverage into 2013, with the potential
Read moreTuesday broker round-up
31st Jul 2012 09:19
Dignity: N+1 Brewin upgrades to add, target raised from 880p to 950p. Diploma: Jefferies reiterates buy rating and 510p target. Elementis: N+1 Brewin upgrades to buy, target upped from 220p to 230p. EnQuest: HSBC upgrades to overweight, target lifted from 135p to 143p. Faroe Petroleum: Nomura ra
Read moreLondon close: Stocks jump on central bank hopes; IAG surges
30th Jul 2012 17:05
- IAG leads Footsie higher; banks, miners follow suit - ECB expected to act soon - QE3 hopes in the US drive gains UK stocks started the week well as risk appetite increased on hopes that European policy-makers will announce measures this week to stem the crisis and the US central bank will act to
Read moreFTSE 100 movers: Miners and financials lead the way
30th Jul 2012 14:23
The banking and resources sectors were among the best performers on Monday as risk appetite increased on the back of stimulus hopes. Barclays, RBS, ENRC and Xstrata were high risers by mid-afternoon. Global banking group HSBC was along among them after seeing an 11% rise in reported pre-tax profit
Read moreLondon midday: Stimulus hopes drive risk appetite
30th Jul 2012 12:03
- Juncker says leaders have 'no time to lose' - Markets await policy decisions by ECB and Fed - Yields fall at Italian bond auction European stock markets were making moderate gains on Monday morning as risk appetite increased on the back of hopes of central bank action this week in Europe and the
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