Jefferies upgrades HSBC to 'buy'
5th Jan 2023 10:44
(Sharecast News) - Jefferies upgraded HSBC on Thursday to 'buy' from 'hold' and hiked the price target to 770p from 574p as it said the bank was positively-geared to a re-opening in China.
Read moreChina set to ease Covid-19 restrictions
1st Dec 2022 13:25
(Sharecast News) - Officials in Beijing were set to ease their quarantine controls for Covid-19 over the next few days.
Read moreHSBC to close 114 UK branches
30th Nov 2022 12:09
(Sharecast News) - HSBC is to close a further 114 UK branches, the banking giant confirmed on Wednesday.
Read moreSector movers: Financials and Oil pace gains, China in the spotlight
29th Nov 2022 21:30
(Sharecast News) - Financials and Miners paced gains in the stock market on Tuesday following news that authorities in China wanted to strengthen vaccination rates among those over 80.
Read moreHSBC to sell Canadian business to RBC in $13.5bn deal
29th Nov 2022 11:43
(Sharecast News) - HSBC shot higher on Tuesday after agreeing to sell its Canadian business to Royal Bank of Canada in a $13.5bn cash deal.
Read morePershing Square takes out bet against Hong Kong dollar
24th Nov 2022 07:09
(Sharecast News) - US hedge fund Pershing Square Capital Management took out a bet on the Hong Kong dollar, arguing that its peg to the Greenback had outlived its usefulness.
Read moreChinese State Council urges lenders to make use of reductions in reserve ratios
24th Nov 2022 06:58
(Sharecast News) - Beijing instructed lenders to increase their financial support in order to stabilise the economy and consolidate the foundations for future growth.
Read moreChinese bank lending brakes sharply in October, Beijing reaffirms zero-Covid
10th Nov 2022 12:09
(Sharecast News) - Bank lending in the People's Republic of China plumbed its lowest level in five years last month amid ongoing Covid-19 restrictions and a slump in mortgage demand.
Read moreSunday newspaper round-up: Autumn statement, Glencore, BoE
6th Nov 2022 23:20
(Sharecast News) - The key points of the autumn statement must be submitted to the Office for Budget Responsibility by Monday morning. The Guardian understands that the Chancellor will set out tax increases and spending reductions totalling £60bn with cuts of at least £35bn. Decisions were also expected within days on whether to raise benefits in line with inflation and as regards changes to the pensions triple lock. Among the Chancellor's concerns is ensuring that the Treasury has enough 'headroom' to deal with other economic shocks and that its plans are credible to financial markets. - Guardian
Read moreChina approves BioNTech Covid vaccine for use among expatriates
4th Nov 2022 10:41
(Sharecast News) - China approved BioNTech SE's mRNA Covid-19 vaccine for use among the expatriate population in the People's Republic of China.
Read morePing An urges 'aggressive' cost cuts at HSBC, pushes for break-up - report
4th Nov 2022 07:20
(Sharecast News) - HSBC's largest shareholder, Ping An, has reportedly urged the bank to be "much more aggressive" in reducing costs by cutting jobs and warned that its board lacks experience in Asia, as it pushes the lender to spin off its business there.
Read moreFed shifts towards more flexible stance
2nd Nov 2022 16:56
(Sharecast News) - The US central bank appeared to take a page out of the European Central Bank's playbook, telling investors that it would begin to take into account the cumulative effect of policy to date and its lags.
Read moreUK govt unlikely to impose windfall tax on banks - report
31st Oct 2022 08:39
(Sharecast News) - Bank stocks rallied on Monday following a report the government had denied suggestions it is considering a windfall tax on the sector as one means of closing the budget hole.
Read moreDeutsche Bank raises target price on HSBC
27th Oct 2022 10:51
(Sharecast News) - Analysts at Deutsche Bank raised their target price on banking giant HSBC from 570.0p to 650.0p on Thursday after the group's new guidance included an upgrade to consensus.
Read moreHSBC Q3 profits fall but beat estimates after $2.4bn hit from French sale
25th Oct 2022 07:04
(Sharecast News) - HSBC on Tuesday said it had appointed Georges Elhedery, a former head of its investment bank, as its new chief financial officer as it posted a 42% fall in third quarter profits due to rising loan losses and asset sales.
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