Roundtable Discussion; The Future of Mineral Sands. 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: 705.50
Bid: 707.20
Ask: 707.30
Change: 0.50 (0.07%)
Spread: 0.10 (0.014%)
Open: 706.50
High: 714.40
Low: 705.00
Prev. Close: 705.00
HSBA Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Moody's cut is 'backward looking', claims RBS

Fri, 22nd Jun 2012 07:48

Credit ratings agency Moody's has downgraded 15 major banks and financial instiutions, including the major lenders on Britain's High Street.Royal Bank of Scotland, Barclays, Lloyds and HSBC all got the downgrade treatment as the agency completed its review of the global banking sector. Barclays' rating was downgraded by two notches while the ratings of the others were ratcheted down by one level."All of the banks affected by today's actions have significant exposure to the volatility and risk of outsized losses inherent to capital markets activities," explained Greg Bauer, Moody's global banking managing director.The move will make it more expensive for the banks to tap the corporate bond markets so will not have been welcomed.Royal Bank of Scotland (RBS) said it disagreed with the ratings change, saying the change is "backward-looking and does not give adequate credit for the substantial improvements the group has made to its balance sheet, funding and risk profile."Nonetheless, the group believes the impacts of the downgrade are manageable. The amount of collateral that may have to be posted following this one notch downgrade by Moody's is estimated to be £9bn as of May 31st. RBS's long term rating was downgraded from A2 to A3, with a stable outlook. The short term rating was downgraded to P-2 from P-1 with a negative outlook, reflecting Moody's belief that the UK government will provide less support to big banks in the medium term. "The group continues to maintain a solid liquidity and funding position. RBS has completed its planned wholesale funding requirements for 2012," the RBS statement said.Britain's other part-nationalised lender, Lloyds Banking Group, was a tad more phlegmatic in its response to Moody'ss action.The short term P-1 rating for Lloyds TSB Bank remains unchanged, but the longer-term senior debt and deposit ratings have been lowered by one notch to A2 from A1, and the standalone credit assessment has also been lowered by one notch to baa2 from baa1. The outlook is stable on the standalone credit assessment, and negative on the A2 senior debt and deposit ratings reflecting Moody's medium-term view of lower systemic support for UK banks."I am pleased that Moody's have recognised the substantial momentum we have made in de-risking our balance sheet and delivering on our strategy," said Lloyds' Chief Executive Officer, António Horta-Osório. "I expect this momentum to be sustained," he added. JH
More News
9 Apr 2024 07:39

LONDON BRIEFING: HSBC sells Argentinian arm for USD550 million

(Alliance News) - Stocks in London are called to open lower on Tuesday, as investors nervously look ahead to US inflation data and the European Central Bank's latest interest rate decision.

Read more
9 Apr 2024 07:05

HSBC to take $1bn hit from Argentina unit sale

(Sharecast News) - HSBC Holdings on Tuesday said it was selling its Argentina business to Grupo Financiero Galicia for $550m and take a $1bn pre-tax loss in the process as it continued to pivot its operations towards Asia.

Read more
8 Apr 2024 19:45

West Virginia treasurer adds four finance firms to ESG blacklist

NEW YORK, April 8 (Reuters) - West Virginia added four financial firms on Monday to a list of institutions that may be barred from some state business because the state's treasurer deems they are boycotting the fossil fuel industry.

Read more
8 Apr 2024 07:00

HSBC targets wealthy expats, bullish Asian firms to drive Europe unit, exec says

Managers focused on growth after complex transformation

*

Read more
5 Apr 2024 07:29

Spain's Berge drops plans to list its Astara unit this year

MADRID, April 5 (Reuters) - Spanish privately owned logistics group Berge has dropped plans to list shares in its automotive unit Astara as market conditions are not the most appropriate for a flotation, the company said late Thursday.

Read more
3 Apr 2024 16:07

London close: Stocks reverse losses to finish slightly higher

(Sharecast News) - London markets saw modest gains by the close on Wednesday, following Wall Street higher in afternoon trading.

Read more
3 Apr 2024 13:19

Morgan Stanley commits to Canary Wharf home until at least 2038

LONDON, April 3 (Reuters) - Morgan Stanley's UK arm has extended a lease on its 547,000 square foot European headquarters in London's Canary Wharf to 2038, committing to the Docklands financial hub even as rivals relocate in search of smaller offices.

Read more
2 Apr 2024 17:28

London stocks dip in global risk off mood; commodity-linked stocks jump

FTSE 100 down 0.2%, FTSE 250 adds 0.9%

*

Read more
2 Apr 2024 15:22

London close: Stocks turn red on return from Easter break

(Sharecast News) - UK stocks experienced a downturn by the end of trading on Tuesday, as investors resumed activity following the extended weekend, with initial gains reversed by the close ahead of a week marked by a number of key economic data releases.

Read more
2 Apr 2024 11:50

LONDON MARKET MIDDAY: FTSE 100 buoyed by UK manufacturing growth

(Alliance News) - The FTSE 100 in London was up at midday on Tuesday, reacting to the UK manufacturing sector returning growth and further PMI data across the globe.

Read more
2 Apr 2024 09:09

LONDON MARKET OPEN: FTSE 100 up as oil majors and gold miners shine

(Alliance News) - Stock prices in London opened higher on Tuesday, in confident trade following the long Easter weekend, ahead of a UK manufacturing sector reading later in the morning.

Read more
2 Apr 2024 08:44

TOP NEWS: HSBC to pay special dividend after completing Canadian sale

(Alliance News) - HSBC Holdings PLC on Tuesday said it would pay shareholders a special dividend after completing the sale of its Canadian business.

Read more
2 Apr 2024 08:05

LONDON BRIEFING: HSBC in special payout on Canada sale; Astra FDA win

(Alliance News) - London's FTSE 100 traded higher on Tuesday following the long weekend, as investors react to US data, and look ahead to manufacturing sector readings from Europe later.

Read more
28 Mar 2024 09:55

UBS makes Ermotti Europe's best-paid bank boss with $16 mln package

Ermotti earned $15.9 mln in 2023

*

Read more
27 Mar 2024 14:42

Bank of England steps up scrutiny of private equity and bank valuations

LONDON, March 27 (Reuters) - The Bank of England said on Wednesday it was taking a deeper look at risks from the opaque private equity sector, and why valuations of Britain's main banks are "subdued" compared with international peers.

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.