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Hsbc ShareCast News (HSBA)
ShareCast News for Hsbc (HSBA)
| Share Price: 758.60 | Bid: 757.20 | Ask: 757.40 | Change: 0.00 (0.00%) |  | ||||||
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Sector movers: Increased risk benefits banks, miners
Tue, 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 largest economy.
In an interview with Bloomberg TV, he said: "I've been favour of pretty much any accommodative policy I've heard about [...] Extending the Twist would be useful [...] More asset purchases would be useful. More mortgage-backed securities purchases would be good."
Evans sits on the Federal Open Market Committee which sets monetary policy for the US, his comments have given investors hope some kind of massive US intervention is possible.
Banking groups Lloyds, RBS and HSBC finished the day with gains while mining peers Randgold and Fresnillo tracked precious metals higher.
Top performing sectors so far today
Mobile Telecommunications 4,046.71 +2.10%
Fixed Line Telecommunications 2,448.24 +1.72%
Tobacco 36,003.85 +1.37%
Banks 3,573.52 +1.09%
Mining 17,803.50 +1.07%
Bottom performing sectors so far today
Electronic & Electrical Equipment 3,084.79 -2.00%
Industrial Metals & Mining 2,767.98 -1.90%
Technology Hardware & Equipment 674.20 -1.11%
Software & Computer Services 791.30 -1.05%
General Retailers 1,624.34 -1.04%
BC
Chicago Fed President Charles Evans today threw his weight behind the central bank kick-starting the world's largest economy.
In an interview with Bloomberg TV, he said: "I've been favour of pretty much any accommodative policy I've heard about [...] Extending the Twist would be useful [...] More asset purchases would be useful. More mortgage-backed securities purchases would be good."
Evans sits on the Federal Open Market Committee which sets monetary policy for the US, his comments have given investors hope some kind of massive US intervention is possible.
Banking groups Lloyds, RBS and HSBC finished the day with gains while mining peers Randgold and Fresnillo tracked precious metals higher.
Top performing sectors so far today
Mobile Telecommunications 4,046.71 +2.10%
Fixed Line Telecommunications 2,448.24 +1.72%
Tobacco 36,003.85 +1.37%
Banks 3,573.52 +1.09%
Mining 17,803.50 +1.07%
Bottom performing sectors so far today
Electronic & Electrical Equipment 3,084.79 -2.00%
Industrial Metals & Mining 2,767.98 -1.90%
Technology Hardware & Equipment 674.20 -1.11%
Software & Computer Services 791.30 -1.05%
General Retailers 1,624.34 -1.04%
BC
Broker snap: UBS upgrades banks to 'overweight' as conditions improve
UBS has lifted its rating for the global banking sector from 'underweight' to 'overweight', saying that the operating environment is beginning to improve.[Yesterday 10:59]
Thursday broker round-up UPDATE
Barratt Developments: Deutsche Bank lowers target price from 336p to 327p, while leaving its buy recommendation unaltered.[Thu 07:43]
Thursday tips round-up: LSE, easyJet, HSBC
Change is in the air at HSBC. The lender has been right to concentrate on cost-cutting, having exited 50 businesses and announced roughly 44,000 lay-offs since 2011 - even if its cost-to-income ratio has risen over the past three years. Indeed, banks have been at pains recently to show investors that they can still grow, but HSBC does have greater exposure to emerging markets, while "soggy" top lines are being me with a renewed focus on efficiency and returns, with the lender[Thu 06:26]
HSBC identifies further transformative cost cuts
HSBC Chief Executive Stuart Gulliver has notified of further considerable cost cutting plans as the bank becomes "simpler and easier to manage" after shedding a swathe of underperforming businesses.[Wed 07:45]
Broker snap: Investec downgrades HSBC after recent outperformance
Shares of HSBC Holdings are currently close to five-year highs and further upside is limited, according to Investec which has cut its recommendation from 'buy' to 'reduce'.[Mon 16:14]
London midday: Stocks snap winning streak as Chinese data disappoints
Disappointing economic data from China on Monday put an end to a seven-day winning streak in London which lifted the FTSE 100 to a five-and-a-half-year high last week.[Mon 11:51]
London open: Markets pause after strong run last week
Weakness in the financial sector meant that the FTSE 100 was in the red on Monday morning, with investors pausing for breath after the index reached fresh multi-year highs last week.[Mon 08:48]
Monday broker round-up UPDATE
Bioquell: Investec shifts target price from 136p to 141p and keeps a hold recommendation.[Mon 07:18]
