Sector movers: Increased risk benefits banks, miners
12th Jun 2012 19:34
Banks and miners were making gains on Tuesday as risk appetite increased on the back of hopes that the Federal Reserve (Fed) may announce further stimulus next week at its policy meeting. Chicago Fed President Charles Evans today threw his weight behind the central bank kick-starting the world's la
Read moreLondon close: Gains erased on uncertainty over Spain
11th Jun 2012 17:17
- Stocks lose gains after strong start - Spanish requests up to 100bn for troubled banks - Investors eye Greek elections The Footsie finished flat on Monday despite surging from the off after the initial euphoria over a Spanish request for European aid faded quickly. Equity markets across the cont
Read moreFTSE 100 movers: Financials push top tier index higher
11th Jun 2012 14:41
Financial stocks were tracking their European counterparts higher on Monday, as the continent's banking industry celebrated Spain's request for aid. Barclays, Lloyds and RBS were among the highest risers, helped by Oriel Securities which kept buy ratings on all three stocks today. HSBC was also ga
Read moreMonday broker round-up
11th Jun 2012 09:37
Antofagasta: RBS Capital Markets downgrades to underperform. Ashtead: Jefferies keeps buy recommendation and 300p target. Barclays: Bank of America Merrill Lynch keeps buy rating and 370p target; Oriel Securities reiterates buy recommendation and 285p target. BP: Nomura retains neutral stance and
Read moreMarks and Spencer to launch in-store banking service
8th Jun 2012 13:45
Rumours of plans by retail heavyweight Marks and Spencer to launch an in-store banking service this summer, backed by HSBC, have been confirmed. The retail chain is set to open 50 branches of the bank in its stores over the next 24 months, with the first due to open in firm's flagship store in Mar
Read moreHSBC to offload Greek brokerage unit
7th Jun 2012 15:27
Global banking group HSBC is to sell its Greek equities broking business to its management for an undisclosed sum. HSBC Bank has entered into an agreement to offload HSBC Securities to a group of investors led by the unit's Managing Director Nikos Pantelakis. The business provides equity broking s
Read moreLondon close: Stocks surge after Draghi comments
6th Jun 2012 16:39
- ECB keeps rates unchanged; future rate cut eyed - Cameron, Obama call for 'immediate plan' - Miners and financials jump, ABG rockets The Footsie finished over two per cent higher on Wednesday afternoon as miners and financial stocks surged on speculation of future changes to monetary policy in Eu
Read moreLondon midday: Stocks jump ahead of ECB rate decision
6th Jun 2012 11:39
- All eyes on the ECB - UK construction PMI falls in May - Man Group, miners and banks lead the rise London's blue chip index was firmly higher by Wednesday lunchtime as investors looked ahead to an interest rate decision in Europe due out this afternoon. While the European Central Bank (ECB) is g
Read moreLondon pre-open: FTSE to track US stocks higher
6th Jun 2012 07:24
City sources predict the FTSE 100 will open up 35 points from Friday's close of 5,260, tracking US stocks higher following the UK bank holiday weekend. The merger of HSBC's Omani operations with Oman International Bank (OIB) has been approved, giving the global banking giant a majority interest.
Read moreHSBC completes merger of Omani unit
6th Jun 2012 07:02
The merger of HSBC's Omani operations with Oman International Bank (OIB) has been approved, giving the global banking giant a majority interest. HSBC Bank Middle East first announced its intention to combine with OIB, Oman's fifth-largest bank, on April 18th in an attempt to expand its presence in
Read moreWednesday newspaper round-up: Spain, Barclays, Ireland
6th Jun 2012 07:00
Oil giant BP faces fresh complications in its hopes to sell its 50 per cent stake in its Russian operation. A court in Siberia has called for a new hearing into TNK-BP, the joint venture it has with Alfa Access Renova (AAR), a vehicle run by Russian billionaires. The tie-up has been highly profitabl
Read moreSunday newspaper round-up: Drachmas, Xstrata, Pensions
3rd Jun 2012 19:41
HSBC is testing its cash machines in Greece to ensure they could cope with a return to the drachma if the country pulls out of the euro. Britain's biggest bank is taking the precaution because of concerns that Greece could abandon the 17-nation currency bloc amid political stalemate in the country.
Read moreHSBC Malta sells card acquiring business
31st May 2012 12:03
HSBC's majority owned subsidiary, HSBC Bank Malta, has completed the sale of its card acquiring business to HSBC Merchant Services, a Maltese subsidiary of Global Payments. The sale forms part of the banking giant's on-going strategic revamp, which is aimed at cutting costs by as much as $3.5bn by
Read moreLondon close: Stocks drop on Spanish worries
30th May 2012 16:32
- Spain in focus, bond yields surge - Eurozone economic sentiment slips - Miners fall on euro, Chinese concerns London's blue-chip index closed near its intraday low on Wednesday as ongoing concerns over the Eurozone, and particularly Spain, sank global equity markets. "Spain has taken centre sta
Read moreHSBC CEO plans to double extra revenue target to 2bn dollars
25th May 2012 11:39
The chief executive officer (CEO) of HSBC, which styles itself as 'the world's local bank', unveiled plans on Friday to double its target for extra revenue from integration between global businesses. The new $2.0bn target, which is to be delivered in the short to medium-term, has come about because
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