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Pin to quick picksHSBC Holdings Share News (HSBA)

Share Price Information for HSBC Holdings (HSBA)

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Share Price: 683.70
Bid: 685.50
Ask: 685.70
Change: -13.30 (-1.91%)
Spread: 0.20 (0.029%)
Open: 691.00
High: 693.80
Low: 680.80
Prev. Close: 697.00
HSBA Live PriceLast checked at -

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Sunday newspaper round-up: Oil, Greece, Trading volumes

Sun, 04th Mar 2012 16:04

BP has reached a $7.8bn (£4.9bn) deal to settle claims by more than 100,000 fishermen who lost work, cleanup workers who got sick and other private claimants who were affected by the 2010 Gulf of Mexico oil spill, ahead of a lengthy and damaging court showdown over liability. The British oil giant said last night it had settled out of court with lawyers acting on behalf of some of the thousands of individuals and businesses affected by the Deepwater Horizon disaster. However the settlement does not affect what is anticipated to be tens of billions in fines and claims from the US government, federal agencies (including under the Clean Water Act and for Natural Resource Damages under the Oil Pollution Act) and the coastal states and local governments impacted by the spill, The Times says.European leaders are braced for the Eurozone's first ever sovereign default this week as Greece's efforts to secure a €206bn (£172bn) "voluntary" bond swap looks increasingly unlikely. Authorities in Athens are ready to enforce the controversial collective action clauses, or CACs, to impose the restructuring deal on all bondholders as the number of voluntary agreements look set to fall short of the required amount. Credit rating agencies have warned they will declare Athens to be in default if the CACs are triggered, which would be a dramatic culmination to a three-year rollercoaster ride for Athens, the Eurozone and global markets. Raoul Ruparel of Open Europe, the London-based think-tank, said: "Greece is likely to struggle to reach the targets for a voluntary agreement so the credit rating agencies are almost certainly going to see this as a default. "What happens next is unknown territory," writes the Sunday Telegraph. HSBC´s chief executive officer, Stuart Gulliver, told The Sunday Telegraph that he was so concerned about the costs of the UK banking levy he had raised the issue with the Treasury. In what amounts to the most detailed description of the way in which over-regulation is hurting the UK banking sector, Mr Gulliver criticised both the way the levy is charged and what he described as the "plaque" issue. This refers to the Treasury's suggestion that banks should have enough capital to cope with losses equal to 20% of their entire balance sheet. "The plaque thing and the levy are the only two things that have got investors worked up," he said, estimating the levy will cost HSBC $700m in 2012 and the plaque issue approximately $2.1bn a year. "So there's about a $2.8bn cost to those two. Assume a PE of 10, to keep the maths easy, and you get $28bn permanently off the market cap of the firm.""The rally is impressive, but it lacks conviction. Trading volumes have been low, so there has been no great switching into cyclical stocks, and bond prices have stayed obdurately high. There has not (yet) been any great switch by asset allocators into equities. Money remains on the sidelines ready to come in; but this looks so far more like a rally within a rangebound market than a true new bull market. There is a potentially negative development; the 15% rise in the crude oil price. The US is less dependent on oil, and imported oil, than it once was. But a higher oil price could damage oil-importing emerging markets, and act as a further drag on the troubled economies of the European periphery. And by raising inflation, higher oil prices jeopardise the chance of looser monetary policies - and markets tumbled a bit this week after the US Federal Reserve chairman, Ben Bernanke, pointed out that oil creates inflationary pressure," writes John Authers, in this weekend´s Financial Times. Russians flocked to polling stations to vote in the presidential election today as Vladimir Putin sought to return to the Kremlin for an historic third term. Turnout was put at more than 30% by 1pm Moscow time (09.00 GMT), 4% higher than at the previous election in 2008, amid signs that the controversy over Mr Putin's bid to replace Dmitry Medvedev had spurred Russians to vote. One exit poll in Russia's Far East region, where voting has already finished, put Mr. Putin at 42% followed by Mikhail Prokhorov with 33%. The result would cause a sensation if repeated nationally and force Mr. Putin into a run-off against the billionaire businessman, who has endorsed opposition demands for democratic reform, The Times says. Oil prices being pushed up by tensions in the Middle East will bring uncertainty to this week's meeting of the Bank of England's Monetary Policy Committee. After last month's decision to boost the MPC's quantitative easing money creation program by £50bn, the March meeting would normally have proved fairly uneventful. But fears of possible military action directed against Iran's nuclear program have helped to reverse the decline in oil prices. This has complicated the Bank's calculations because most observers had previously believed that inflation was coming off the boil. Since February 1st, the price of a barrel of Brent crude has climbed from just under $112 (£70) to reach a level of more than $122. George Buckley, economist with Deutsche Bank, said: 'How will the MPC respond? Does it treat high oil prices as inflationary, or as a tax on consumers that will ultimately press down on inflation?', writes the Financial Mail on Sunday.Aggreko, which is expected to post a strong set of full-year results next Friday, is weeks away from announcing that its new £20m manufacturing facility is fully operational. The 16-acre Lomondgate, Dumbarton, site will bring production currently scattered across several locations under one roof. Analysts expecting the company, which supplies temporary power generators for major events including this year's Super Bowl, pictured, will post a 5% rise in pre-tax profits to £324m. Shares in Aggreko have hit record highs in recent weeks on the back of continued demand for power across the world. Analyst Caroline de La Soujeole of Seymour Pierce said that at some 22 times earnings the shares were "pretty pricey" but added she believed there will still "more room to run". Shares closed 22p lower at 2,219p, according to Scotland on Sunday.General Motors will suspend production of the Chevrolet Volt for five weeks this spring, a spokesman said on Friday. Disappointing sales of the award-winning plug-in hybrid electric car have left the car firm with too many Volts. Production of the US car and its European version, the Opel Ampera, will be on hold starting 19th of March and 1,300 workers will be temporarily laid off. They are expected to return to work on the 23rd of April. Edmunds.com senior analyst Michelle Krebs commented that, "the Chevrolet Volt has had a very rocky go of it, from the very beginning of the launch when confusion emerged about what it was - an EV or a hybrid - to the latest episode with Volts catching fire after NHTSA testing (...) this period of high gas prices should have given sales of the Volt and other hybrids and electric cars a lift. Instead, there's a wide selection of 30mpg and even 40mpg cars that don't carry the hefty premium of vehicles like the Volt so the Volt, Nissan Leaf and others are up against stiff competition," The Guardian reports.In this week´s "On London" column in the Financial Times Paul Murphy comments on the recent rise in oil prices and its implications. Mr. Murphy writes that, "next up is the question of how far oil prices might rise. In the event of major political upheaval in the Middle East, this quickly becomes a partially educated guessing-game based on assorted wars and oil shocks of the past 40 years. Here he cites HSBC´s chief economist Stephen King, who last Friday wrote, "Think $150 or even $200 a barrel," adding that more excitable forecasting types go higher still. In any case, and as Mr. King does, he believes that it is the longer term dynamics of demand and supply that one must concentrate upon. Here he again cites Mr.King, when he says that, "if current global demand trends continue, China alone will be attempting to consume the equivalent of all of today´s global oil output by 2035. That, alone, should be enough to underpin oil prices." The auction of Cove Energy is in disarray after the Mozambique Government said that it would levy a tax when the gas explorer was sold. Esperança Bias, the Mozambican Minerals Minister, said: "We are monitoring the negotiations and what we have said is that we are going to put in place a capital gains tax." The sale needs the approval of the Mozambique Government to go ahead. Shares in Cove fell 7% to 210p yesterday. The case with Cove is more complicated than some others because the whole company is up for sale, rather than just an asset, leaving the explorer's shareholders potentially on the hook for any tax levied by Mozambique. Canaccord analysts estimated that a 30% capital gains tax could be levied on Cove, equivalent to about 28p per share. Werner Riding, an analyst from stockbroker Peel Hunt, said: "The possibility of ... a tax on the transaction does not come as a huge surprise. But the difference in this case is that an entire company, rather than an asset, is being sold. Either way I expect the Mozambique Government to want to realise a return on their assets," The Times reports. AB
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9 Oct 2023 07:42

LONDON BRIEFING: Metro Bank secures deal to shore up finances

(Alliance News) - Stocks in London are set to open higher on Monday as interest rate expectations held steady despite Friday's bumper US nonfarm payrolls report.

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9 Oct 2023 06:58

TOP NEWS: HSBC buys Citigroup consumer wealth business in China

(Alliance News) - Citigroup Inc on Monday announced it has agreed to sell its onshore consumer wealth portfolio in China to HSBC Bank China, an arm of London-based lender HSBC Holdings PLC.

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3 Oct 2023 11:59

LONDON MARKET MIDDAY: HSBC and StanChart help FTSE 100 outperform

(Alliance News) - London's FTSE 100 grew in confidence as Tuesday morning progressed, going into the afternoon in the green and outperforming European peers.

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27 Sep 2023 14:28

TRADING UPDATES: Wishbone loss widens; Camellia hit by bad weather

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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14 Sep 2023 15:44

UK dividends calendar - next 7 days

Friday 15 September 
4imprint Group PLCdividend payment date
Baillie Gifford European Growth Trust PLCspecial dividend payment date
Baillie Gifford UK Growth Trust PLCdividend payment date
Barclays PLCdividend payment date
Brunner Investment Trust PLCdividend payment date
Clarkson PLCdividend payment date
Halfords Group PLCdividend payment date
Hikma Pharmaceuticals PLCdividend payment date
Ibstock PLCdividend payment date
IMI PLCdividend payment date
Informa PLCdividend payment date
Lancashire Holdings Ltddividend payment date
Montanaro European Smaller Companies Trust PLCdividend payment date
NatWest Group PLCdividend payment date
Pershing Square Holdings Ltddividend payment date
Reckitt Benckiser Group PLCdividend payment date
Spirent Communications PLCdividend payment date
TI Fluid Systems PLCdividend payment date
Vesuvius PLCdividend payment date
Witan Investment Trust PLCdividend payment date
Monday 18 September 
Pearson PLCdividend payment date
Quilter PLCdividend payment date
Shaftesbury Capital PLCdividend payment date
Shell PLCdividend payment date
Tuesday 19 September 
Alpha Financial Markets Consulting PLCdividend payment date
Rathbones Group PLCex-dividend payment date
Wednesday 20 September 
abrdn Asia Focus PLCdividend payment date
Domino's Pizza Group PLCdividend payment date
Impact Healthcare REIT PLCdividend payment date
London Stock Exchange Group PLCdividend payment date
OSB Group PLCdividend payment date
Sabre Insurance Group PLCdividend payment date
Scottish American Investment Co PLCdividend payment date
Thursday 21 September 
abrdn Diversified Income & Growth PLCex-dividend payment date
abrdn Private Equity Opportunities Trust PLCex-dividend payment date
Alpha Group International PLCex-dividend payment date
Brickability Group PLCdividend payment date
Brooks Macdonald Group PLCex-dividend payment date
Chelverton UK Dividend Trust PLCex-dividend payment date
Costain Group PLCex-dividend payment date
CQS Natural Resources Growth & Income PLCspecial ex-dividend payment date
Crest Nicholson Holdings PLCex-dividend payment date
Dowlais Group PLCex-dividend payment date
Essentra PLCex-dividend payment date
FDM Group Holdings PLCex-dividend payment date
Fidelity European Trust PLCex-dividend payment date
Forterra PLCex-dividend payment date
Gamma Communications PLCex-dividend payment date
Grafton Group PLCex-dividend payment date
Harworth Group PLCex-dividend payment date
Highcroft Investments PLCex-dividend payment date
HSBC Holdings PLCdividend payment date
IG Group Holdings PLCex-dividend payment date
Jet2 PLCex-dividend payment date
JPMorgan European Growth & Income PLCex-dividend payment date
JTC PLCex-dividend payment date
Kenmare Resources PLCex-dividend payment date
Mattioli Woods PLCex-dividend payment date
Midwich Group PLCex-dividend payment date
Palace Capital PLCex-dividend payment date
Redrow PLCex-dividend payment date
Regional REIT Ltdex-dividend payment date
Restore PLCex-dividend payment date
Rio Tinto PLCdividend payment date
Schroders PLCdividend payment date
SSE PLCdividend payment date
STV Group PLCex-dividend payment date
Vanquis Banking Group PLCdividend payment date
Walker Crips Group PLCex-dividend payment date
XPS Pensions Group PLCdividend payment date
  
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13 Sep 2023 11:49

LONDON MARKET MIDDAY: Stocks down as investors wait for US inflation

(Alliance News) - Stock prices in London were lower at midday Wednesday as investors eyed a key US inflation reading later in the day, ahead of the Federal Reserve's interest rate decision next week.

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13 Sep 2023 09:29

LONDON BROKER RATINGS: Goldman Sachs likes HSBC; RBC raises CVS

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

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6 Sep 2023 16:36

IN BRIEF: Kromek extends credit facility repayment to end of month

Kromek Group PLC - Sedgefield, England-based detection technology supplier - Extends repayment date of its GBP5.0 million revolving credit facility with HSBC Holdings PLC to September 30 from Thursday last week. Says the move is taken as it finalises terms to refinance the borrowing facility. This follows a previous extension, as announced when publishing its annual results in late July. Says it will will make a further announcement in "due course".

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6 Sep 2023 15:22

America Movil prioritizing peso-denominated debt, CFO says

Sept 6 (Reuters) - Mexican telecommunications giant America Movil is looking to increase the percentage of its debt held in pesos, Chief Financial Officer Carlos Garcia Moreno said on Wednesday.

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5 Sep 2023 12:05

IN BRIEF: Kinovo renews banking facilities with partner HSBC

Kinovo PLC - London-based property services provider offering safety compliance and sustainability solutions - Renews banking facilities with partner HSBC Holdings PLC. The facilities have been renewed to May 31, 2024, to align with Kinovo's year-end reporting schedules. They consist of a GBP2.5 million overdraft facility at an interest rate of 2.85% above the Bank of England base rate and a GBP6.0 million purchasing card facility, on which there is no interest charge.

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4 Sep 2023 07:54

Ex-GIC bond manager to launch hedge fund -BNP Paribas

LONDON, Sept 4 (Reuters) - Reuben Abrams, a former portfolio manager at Singapore sovereign wealth fund GIC, is set to launch a hedge fund by year-end in London, according to a note to clients from BNP Paribas.

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1 Sep 2023 18:26

RBC's $10 bln deal for HSBC unit approved by Canada's Competition Bureau

Sept 1 (Reuters) - Canada's Competition Bureau said on Friday that Royal Bank of Canada's (RBC) C$13.5 billion ($10 billion) offer to buy HSBC's domestic unit was unlikely to hurt competition, clearing the way for the country's largest bank to push ahead with its biggest acquisition.

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1 Sep 2023 00:01

Some UK banks improving interest rates for savers, says watchdog

LONDON, Sept 1 (Reuters) - More savings accounts are offering higher interest rates as a more competitive market emerges, though regulatory intervention may still be needed to ensure customers are getting fair value, Britain's Financial Conduct Authority (FCA) said on Friday.

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30 Aug 2023 12:19

40-year mortgage terms now offered by HSBC UK

(Alliance News) - HSBC Holdings PLC's HSBC UK is offering 40-year mortgages to help people on to or up the property ladder.

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29 Aug 2023 17:27

European shares at two-week high; UK's FTSE 100 outperforms

U.S. job openings data boosts Fed pause bets

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