London 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
Read moreLondon close: Stocks surge as JPMorgan hints at ECB stimulus
24th May 2012 16:38
-JP Morgan suggests ECB rate cut, LTRO restart -EU leaders make little progress -UK contracts more than expected in Q1 An underwhelming EU summit and a barrage of disappointing economic figures failed to hold back gains on Thursday, as the Footsie rebounded following yesterday's steep sell-off. C
Read moreLondon open: Stocks rebound after heavy sell-off
24th May 2012 08:45
- EU leaders clash over Eurobonds - Chinese manufacturing continues to contract - Financials wanted after recent sell-off Equity markets shrugged off an underwhelming EU summit and some disappointing Chinese data on Thursday morning to rebound following a heavy sell-off yesterday. The outcome of l
Read moreLondon close: Stocks sink on Greek exit speculation
23rd May 2012 16:39
- Officials warn Eurozone to prepare for Greek exit - BoE policy makers 'finely balanced' on more QE - CBO warns of US recession The FTSE 100 sunk to its lowest levels of the day by the end of trade on Wednesday as investors looked ahead to this evening's EU summit with caution as speculation incre
Read moreWednesday broker round-up
23rd May 2012 09:29
Barclays: Investec maintains buy recommendation and 240p target. BTG: Jefferies keeps buy rating and 410p target. Burberry: Nomura remains a buyer with a 1,530p target; Merchant Securities keeps hold rating; Investec reiterates buy rating and 1,690p target. Cobham: UBS ups target from 255p to 260
Read moreTuesday newspaper round-up: HSBC, BoE, Thomas Cook
22nd May 2012 07:37
Stuart Gulliver, HSBC's chief executive, has said the bank had decided to drop "indefinitely" plans to look at moving its headquarters from London to Hong Kong. HSBC, which paid 1.5bn dollars (950m pounds) tax in the UK last year, threatened to leave the UK in the face of punitive financial regulati
Read moreLondon close: Stocks rebound, EU summit eyed
21st May 2012 17:14
- G8 underwhelms; markets look to EU summit - Hollande expected to push eurobond idea to Merkel - Risk-on as financials, miners advance; defensives sold London's FTSE 100 finished firmly higher on Monday following a poor performance last week which saw the blue chip index slump to its worst levels
Read moreFTSE 100 movers: Miners, financials recover after recent falls
21st May 2012 16:40
Miners and financial stocks were among the best performers of the day on Monday as the Footsie rebounded after slumping to a six-month low on Friday. Vedanta Resources, Polymetal, Xstrata and Glencore were making decent gains in afternoon trade on rumours that China could act to counter a slowdown
Read moreLondon midday: Stocks rise but Eurozone still in focus
21st May 2012 11:31
- G8 underwhelms as euro crisis continues to hamper sentiment - Cameron warns Eurozone to anticipate Greek exit - Barclays to offload BlackRock stake The FTSE 100 had held on to early gains by Monday lunchtime, as the blue-chips index rebounds from hitting a six-month low on Friday. US stock future
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