Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video 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: 693.30
Bid: 693.30
Ask: 693.50
Change: 1.90 (0.27%)
Spread: 0.20 (0.029%)
Open: 689.30
High: 693.80
Low: 687.00
Prev. Close: 691.40
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 OPEN: Stocks Start Mostly Lower Amid Profit Taking

Tue, 31st Dec 2019 08:51

(Alliance News) - London stocks were lower on Tuesday morning, with some traders remaining away from their desks ahead of the New Year's Day holiday, while others were cashing out of a flagging Santa Rally.

The FTSE 100 index was down 43.63 points, or 0.6%, at 7,543.42 early Tuesday. The mid-cap FTSE 250 index was 33.44 points lower, or 0.2%, at 21,902.82, and the AIM All-Share index was flat at 958.11.

The retreat follows a strong Christmas week for London shares, with the FTSE 250 index of mid-caps reaching a record closing high, breaching the 22,000 mark for the first time.

The Cboe UK 100 index was down 0.6% at 12,783.36. The Cboe 250 was 0.2% lower at 19,815.78, and the Cboe Small Companies flat at 12,247.11.

The London Stock Exchange will close early at 1230 GMT for New Year's Eve. It will re-open on Thursday for a full session.

Sterling was quoted at USD1.3130 early Tuesday, flat with USD1.3136 at the London equities close on Monday.

In other currencies, the euro was trading at USD1.1205 early Tuesday, soft on USD1.1216 late Monday. Against the yen, the dollar was at JPY108.63, down slightly from JPY108.83.

In mainland Europe, the CAC 40 in Paris was down 0.4%. Financial markets in France will close early on Tuesday, while German markets are completely closed for New Year's Eve. Italy and Switzerland also are closed all day.

In Asia on Tuesday, financial markets were closed in Japan. In China, the Shanghai Composite ended up 0.3%, while the Hang Seng index in Hong Kong closed down 0.5%.

Tokyo will remain shut until Monday, while the Shanghai and Hong Kong markets are closed on New Year's Day but reopen on Thursday.

Back in London, HSBC Holdings started the day 0.6% lower after the Financial Times reported that the bank is planning to expand its exchange traded fund range in 2020 in order to revitalise its underperforming asset management business.

Nicholas Moreau, who was appointed chief executive of HSBC's asset management division in August, has devised a series of initiatives aimed at reinvigorating growth at a time when the London-listed bank is aggressively cutting costs, the FT said.

In the first half of 2020, HSBC will launch eight ETF's employing environmental, social and governance metrics to tap into rising investor demand for ESG-focused strategies.

HSBC also plans to develop a fixed income ETF platform in 2020 and to launch a range of precious metals tracker funds later in the year, the FT noted.

On AIM, Redx Pharma surged 31% in early trade to 8.68 pence. The company reported it is in "active" discussions with Samuel Waksal and associates, which could lead to a possible cash offer for the company.

In the meantime, the drug discovery and development company called on its shareholders to vote in favour of the conversion of a GBP2.5 million loan into shares. A general meeting will be held on January 21.

"We believe that this short-term funding solution will allow us time to secure the necessary longer-term funding that will enable us to advance our innovative pipeline of novel precision medicines for cancer and fibrosis," explained Chair Iain Ross.

The loan agreement was signed back in June with Moulton Goodies Ltd, Redx's largest shareholder which has over 18% stake, for a fixed rate secured loan note facility of up to GBP2.5 million. The loan is repayable in full on Tuesday. However, Moulton has requested that Redx capitalise the whole of the loan, including all unpaid interest, into new shares.

The capitalisation price pursuant to the terms of the loan notes is 5.25p per share, which will result in the issue of 52.0 million new shares to Moulton.

In the red early Tuesday was KCR Residential REIT, down 9.3%, after saying that it has been unable to publish its results for the year to the end of June until the end of 2019. The company explained that it is in the process of finalising the audit and the results will be announced "as soon as possible".

The delay is procedural having been caused by time-delays during the course of the audit which started later than expected following the closing of the corporate transaction with Torchlight Fund, the company said.

KCR Residential REIT shares will be suspended on Thursday.

Gold was quoted at USD1,524.30 early Tuesday, up from USD1,515.03 at the London equities close on Monday.

Brent oil was trading at USD66.48 early Tuesday, firm on USD66.14 at the London equities close on Monday.

The economic events calendar on Tuesday has only US data. The Johnson Redbook retail sales index is at 1355 GMT, with the monthly house price index at 1400 GMT and the US consumer confidence index at 1500 GMT.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

More News
23 May 2024 12:53

HSBC fined £6.3m over treatment of customers in financial difficulty

(Sharecast News) - HSBC has been fined nearly £6.3m by the Financial Conduct Authority over its treatment of customers in financial difficulty.

Read more
23 May 2024 11:20

HSBC fined in UK over treatment of customers in financial difficulty

(Alliance News) - HSBC Holdings PLC has been fined about GBP6.3 million for failures over the treatment of customers who were in arrears or experiencing financial difficulty.

Read more
21 May 2024 16:41

Singapore sells 30-year green bond, raising $1.9 billion

Yield set at 3.30%, coupon rate at 3.25%

*

Read more
21 May 2024 14:08

Begbies Traynor proclaims "strong performance" ahead of annual results

(Alliance News) - Begbies Traynor Group PLC on Tuesday said it expects to report increased revenue and earnings for its latest financial year.

Read more
20 May 2024 16:11

IN BRIEF: HSBC issues EUR1.25 billion fixed to floating rate notes

HSBC Holdings PLC - London-based Asia-focused lender - Issues EUR1.25 billion 3.755% fixed to floating rate notes due 2029 under its debt issuance programme.

Read more
20 May 2024 09:57

SDI profit expected to slump 32% despite trading uptick in second half

(Alliance News) - SDI Group PLC on Monday said it remains in a good position to continue with its buy and build strategy despite a drop in overall performance.

Read more
16 May 2024 20:05

PRESS: HSBC shareholder, Ping An, mulls options for stake — Bloomberg

(Alliance News) - Ping An Insurance Group Co is weighing options that would allow it to reduce its 8% stake in HSBC Holdings PLC, Bloomberg reported Thursday.

Read more
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

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.