The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksHSBC Holdings Share News (HSBA)

Share Price Information for HSBC Holdings (HSBA)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 706.40
Bid: 707.20
Ask: 707.30
Change: 7.20 (1.03%)
Spread: 0.10 (0.014%)
Open: 700.80
High: 708.00
Low: 700.60
Prev. Close: 699.20
HSBA Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON MARKET MIDDAY: BT Group Leads Blue-Chips In Mixed Market

Mon, 01st Feb 2016 12:07

LONDON (Alliance News) - London stock prices were mixed Monday midday, with BT leading blue-chip gainers after it reaffirmed its outlook for the full financial year in its current guise and outlined a new organisational structure following its acquisition of UK mobile-phone network EE.

The FTSE 100 index was down 0.4% at 6,057.98 points, the FTSE 250 was flat at 16,485.81, and the AIM All-Share was up 0.3% at 695.56. In Paris and Frankfurt, the CAC 40 was down 0.5% and the DAX 30 was down 0.4%.

BT Group shares rose 3.1% after the telecommunications and pay-TV company reported a pretax profit rise to GBP862 million for the quarter to end-December, up from GBP694 million a year before, as revenue rose to GBP4.64 billion from GBP4.48 billion.

BT also said that, following its acquisition of EE, it will have a new organisation structure with effect from April. Under the new structure, it will have six lines of business, Consumer, EE, Business and Public Sector, Global Services, Wholesale and Ventures and Openreach.

Fellow pay-TV company Sky was up 1.9%, after Citigroup added the stock to its Europe Focus List.

At the other end of the FTSE 100 index was Prudential, down 2.4%. The life insurer said the chief executive of its M&G Investments fund management arm is to retire from his role and said it has poached the chief investment officer of Aberdeen Asset Management to replace him.

Michael McLintock will retire as the chief executive of M&G and as an executive director of the group this year, though no exact date was given for his departure, after 19 years with the company. He will be replaced by Anne Richards, currently the chief investment officer and head of Aberdeen's European, Middle East and African operations.

Shares in Aberdeen Asset Management were down 0.9%.

HSBC Holdings declined 1.8%. The lender will impose a hiring and pay freeze globally in 2016 as part of its drive to cut as much as USD5 billion in costs by the end of 2017, according to media reports. The actions were outlined in a memorandum received by employees on Friday, the reports said.

In the FTSE 250, Allied Minds was up 4.3% after the science and technology development group said it now owns a 73% stake in Federated Wireless after a recent fundraising round in which Federated Wireless raised USD22 million. The fundraising values Federated Wireless as USD82 million, increased from USD10 million, and Allied Minds' stake in the company is now valued at USD60 million, up from USD9 million.

Home Retail Group was up 3.9% after the Financial Times reported that J Sainsbury is facing pressure to increase its bid in order to secure an agreement to buy the FTSE 250-listed owner of Argos and Homebase.

According to the newspaper, people close to the matter said Sainsbury's met with Schroders and Toscafund, the two biggest shareholders in Home Retail, last week, with the pair indicating Sainsbury's would have to pay at least 160 pence per share, or preferably close to 165p, to get their support.

A 160p per share deal would value Home Retail at around GBP1.3 billion. The stock traded at 142.00p on Monday. Sainsbury's shares were up 0.2%. Sainbury's has until 1700 GMT Tuesday to make an offer or walk away.

Premier Oil's share price had more than doubled to 39.69 pence by midday, as the stock resumed trading after the terms of its deal to acquire the UK North Sea assets of Germany energy group E.ON were changed, meaning the deal is no longer classified as a reverse takeover.

Premier Oil struck a deal in January to buy E.ON's assets for USD120.0 million net, plus completion adjustments. At the time, the value of the completion adjustments was sufficient for the deal to be classed as a reverse takeover. The pair have now agreed to reduce the completion adjustment to USD15.0 million, meaning the aggregate consideration payable by Premier Oil is USD135.0 million. As a result, the deal is no longer classed as a reverse takeover and Premier's shares could be restored to trading.

Premier Oil also was upgraded by Nomura to Buy from Neutral.

US stocks were expected to retreat slightly after their Friday rally, with the Dow 30 called down 0.2%, and the S&P 500 and the Nasdaq 100 both pointed down 0.3%.

Alphabet, the new corporate umbrella for Google and all of its diverse businesses, is expected to report its first set of results under that name after the US market close on Monday, providing investors with a fourth-quarter update. Barbie doll maker Mattel also is expected to publish a fourth-quarter update after the US market close.

Asian markets ended mixed. The Nikkei 225 index in Tokyo closed up 2.0%, while the Shanghai Composite ended down 1.8% and the Hang Seng in Hong Kong down 0.5%.

Chinese manufacturers signalled deterioration in operating conditions at the start of 2016 but the pace of contraction slowed slightly from December, the results of the Caixin survey showed. The Caixin Purchasing Managers' Index rose to 48.4 in January from 48.2 in December but marked the eleventh successive month of contraction.

Official data released by the Chinese government showed that the manufacturing sector underwent a faster contraction than seen at the end of 2015. The official manufacturing PMI, released by the National Bureau of Statistics, fell to 49.4 in January from 49.7 in December. The official Chinese non-manufacturing PMI dropped to 53.5 from 54.4 in December, staying in positive territory about 50.

The pound spiked higher, but gave back some of its gains shortly afterwards, after data showed that UK manufacturing growth quickened unexpectedly at the start of the year to the strongest level in three months.

Data from Markit Economics showed that the Markit/Chartered Institute of Procurement & Supply Purchasing Managers' Index for manufacturing rose to 52.9 in January from 52.1 in December. Economists had expected the index to fall to 51.8.

"Though the PMI survey has generally signalled growth of production and new orders through much of the past three years, January also saw respondents cite increased competition, challenging exchange rates and a more difficult marketplace as factors making it increasingly difficult to win new contracts and protect margins hard won in recent months," said David Noble, Chief Executive Officer at the Chartered Institute of Procurement & Supply.

At the same time, data from the Bank of England showed that UK mortgage approvals rose unexpectedly to 70,837 in December from 70,424 in November. This was the highest since August 2015. Economists had forecast approvals to fall to 69,600 in December.

Sterling rose to USD1.4318 following the set of data, but was quoted at USD1.4286 at midday.

There also were manufacturing PMI readings from the eurozone and European countries. The euro area manufacturing sector growth slowed as estimated in January with rates of expansion in output, new orders and new export business all easing at the start of the year, final survey data from Markit showed Monday.

The final manufacturing PMI fell to 52.3 in January from 53.2 in December. The reading matched flash estimate, having remained above the 50.0 mark for 31 consecutive months.

Germany's manufacturing sector expansion was the slowest since last October. The Markit/BME manufacturing PMI fell to 52.3 from 53.2 in December. The flash score was 52.1. Meanwhile, the French manufacturing sector stagnated at the start of the year as the final PMI dropped to a five-month low of 50 as estimated in January. It was down from 51.4 in December.

The euro was standing at USD1.0863 at midday.

Still ahead in the economic calendar, US personal consumption expenditure data are due at 1330 GMT, before ISM manufacturing PMI and construction spending, both at 1500 GMT. European Central Bank President Mario Draghi will speak to the European Parliament at 1600 GMT.

By Daniel Ruiz; danielruiz@alliancenews.com

Copyright 2016 Alliance News Limited. All Rights Reserved.

More News
14 May 2024 16:11

Kazakhstan opens thorny debate on 2025 OPEC+ oil quotas

LONDON, May 14 (Reuters) - Kazakhstan opened on Tuesday a thorny debate on OPEC+ production levels, saying it believed it should be allowed to pump more oil in 2025, when all current output cuts by the producer group are due to expire.

Read more
14 May 2024 06:27

UK ministers, companies visit Saudi Arabia to boost trade ties

(Alliance News) - UK Cabinet ministers are visiting Saudi Arabia in a bid to bolster trade links with the kingdom amid reports that Riyadh authorised the use of lethal force to clear land for a new desert city.

Read more
9 May 2024 17:33

London's FTSE 100 hits record for fourth session after BoE signals rate cuts

FTSE 100 up 0.3%, FTSE 250 adds 0.2%

*

Read more
9 May 2024 17:06

STOXX 600 ends at record high; BBVA weighs on Spain

Mercedes-Benz, HSBC, Allianz trade ex-dividend

*

Read more
9 May 2024 15:21

London close: Stocks manage gains as BoE holds rates

(Sharecast News) - London markets closed on a positive note on Thursday, bolstered by the Bank of England's decision to maintain interest rates, in line with market expectations.

Read more
9 May 2024 09:53

LONDON BROKER RATINGS: NatWest target raised, other lenders backed

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

Read more
8 May 2024 12:30

Abu Dhabi's Aldar sell $500 mln in 10-year green sukuk

May 8 (Reuters) - Abu Dhabi's largest real estate developer Aldar Properties Has launched $500 million in 10-year green sukuk, an arranging bank document revealed on Wednesday.

Read more
8 May 2024 07:41

Al Rajhi Bank plans to issue 5.5-year sustainable sukuk, document says

May 8 (Reuters) - Al Rajhi Bank, world's largest Islamic bank in assets and market capitalisation, is planning to sell 5.5-year sustainable Islamic bonds, or sukuk, according to an arranging bank document seen by Reuters on Wednesday.

Read more
8 May 2024 07:18

Aldar Properties starts selling 10-year green sukuk, document says

May 8 (Reuters) - Abu Dhabi's largest real estate developer Aldar Properties has started selling 10-year green Islamic bonds, or sukuk, according to an arranging bank document seen by Reuters on Wednesday.

Read more
7 May 2024 11:30

JPMorgan cuts at least six investment banking jobs in Hong Kong, sources say

HONG KONG, May 7 (Reuters) - JPMorgan Chase & Co has become the latest Wall Street firm to reduce its workforce in Hong Kong, two sources with knowledge of the matter said, amid a weaker market and dealmaking activities.

Read more
7 May 2024 08:30

Abu Dhabi developer Aldar picks banks for 10-year green sukuk

May 7 (Reuters) - Abu Dhabi's largest real estate developer Aldar Properties has hired banks for its 10-year green sukuk offering, an arranging bank document showed on Tuesday.

Read more
4 May 2024 23:51

Ping An votes against reappointment of HSBC CEO as director, source says

May 4 (Reuters) - China's Ping An Insurance Group Co the biggest Asian investor in HSBC PLC did not support reappointing chief executive Noel Quinn as a director to the banks board at the its shareholder meeting, a source familiar with the matter told Reuters on Saturday, as the investor voted against such a move.

Read more
4 May 2024 08:37

Norway wealth fund to back Barclays CEO, chair at AGM

OSLO, May 4 (Reuters) - Norway's $1.6 trillion sovereign wealth fund, one of the world's largest investors, supports the reappointment of Barclays CEO C.S. Venkatakrishnan and Chair Nigel Higgins to the British bank's board, the fund manager said on Saturday.

Read more
3 May 2024 07:50

LONDON BRIEFING: InterContinental Hotels makes first-quarter progress

(Alliance News) - London's FTSE 100 is called to open higher on Friday, on the expectation of a softer US jobs report, which could take some sting out of hawkish Federal Reserve interest rate expectations.

Read more
3 May 2024 06:30

HSBC facing shareholder pressure over green finance ahead of AGM

(Alliance News) - HSBC Holdings PLC is facing pressure from shareholders over green finance ahead of its annual general meeting.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.