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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: 705.50
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UPDATE 1-Barclays gives information to U.S. precious metals probe

Tue, 03rd Mar 2015 10:31

* DoJ investigating precious metals ops at 10 banks -WSJ

* Precious metals lawsuits pending in U.S. courts (Adds background, Barclays results)

By Jan Harvey

LONDON, March 3 (Reuters) - Barclays has been providinginformation to an investigation into precious metals by the U.S.Department of Justice (DoJ), the bank said in its 2014 annualreport on Tuesday, a week after a similar statement by HSBC.

The DoJ and the Commodity Futures Trading Commission areinvestigating at least 10 banks for possible rigging of preciousmetals markets, the Wall Street Journal reported last week,citing people close to the inquiries.

Tuesday's acknowledgment of its involvement in theinvestigation comes after HSBC said in its annualreport on Feb. 23 that the DoJ had issued a request to HSBCHoldings in November seeking documents related to a criminalantitrust investigation it was conducting.

The latest investigation is a further distraction for a bankbattling to cut costs and boost profit even as it prepares tosettle allegations that its traders manipulated foreign exchangemarkets. Taking into account charges, provisions andrestructuring costs, the bank suffered a 21 percent drop infull-year net profit, it said on Tuesday.

Regulatory scrutiny of precious metals trading andbenchmarking has increased since the Libor rigging scandalexposed widespread manipulation of interest rates in the foreignexchange market.

Swiss regulator FINMA said in November that it found a clearattempt to manipulate precious metals benchmarks during itsinvestigation of precious metals and foreign exchange trading atUBS.

"The behaviour patterns in precious metals were somewhatsimilar to the behaviour patterns in foreign exchange," FINMAdirector Mark Branson said in a conference call withjournalists.

Germany's Bafin has been looking into how precious metalsbenchmarks are set, while Britain's Financial Conduct Authoritysaid it was broadly looking at gold as part of an investigationinto commodity benchmarks.

Meanwhile, multiple lawsuits have been filed in U.S. courts,alleging a conspiracy to manipulate precious metals prices.

The banks involved in producing global gold, silver,platinum and palladium benchmarks, known as the fixes, said lastyear they would no longer administer the standards.

A new silver benchmark is now administered by CME Group and Thomson Reuters, while the London MetalExchange produces platinum and palladium benchmarks. TheIntercontinental Exchange (ICE) will produce a new goldbenchmark from March 20. (Editing by David Goodman)

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23 Apr 2024 07:59

Citi remains 'overweight' UK banks; HSBC and Barclays 'top picks'

(Sharecast News) - Citi said on Tuesday that it remains 'overweight' UK banks, with HSBC and Barclays its top picks, but Standard Chartered its least preferred.

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22 Apr 2024 09:04

LONDON BROKER RATINGS: Jefferies raises B&M to 'hold'

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

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19 Apr 2024 09:18

Venture Life renews revolving credit facility with Santander and HSBC

(Alliance News) - Venture Life Group PLC on Friday said it had renewed its revolving credit facility with Santander UK PLC and HSBC Innovation Bank Ltd.

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18 Apr 2024 14:12

UK dividends calendar - next 7 days

Friday 19 April 
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no events scheduled 
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Bakkavor Group PLCex-dividend payment date
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Hansard Global PLCdividend payment date
Harworth Group PLCex-dividend payment date
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HSBC Holdings PLCdividend payment date
Invesco Select Trust PLC Global Equity Income ex-dividend payment date
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Copyright 2024 Alliance News Ltd. All Rights Reserved.

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17 Apr 2024 16:42

Morgan Stanley, HSBC cutting Asia investment banking jobs on China deals slowdown

HONG KONG, April 17 (Reuters) - Morgan Stanley and HSBC are cutting dozens of investment banking jobs in the Asia Pacific region this week, sources said, as they ramp up cost-cutting, with weaker dealmaking and sluggish markets in China and Hong Kong weighing on business prospects.

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17 Apr 2024 11:49

Morgan Stanley, HSBC cutting dozens of Asia investment banking jobs on deal slowdown

HONG KONG, April 17 (Reuters) - Morgan Stanley and HSBC are cutting dozens of investment banking jobs in the Asia Pacific this week, sources with knowledge of the matter said, as weaker deal activities and sluggish markets in China and Hong Kong weigh on their business prospects.

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16 Apr 2024 17:09

Europe's STOXX 600 slides in broader market decline on geopolitical jitters

ECB policymakers stick with June rate cut plan

*

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11 Apr 2024 10:06

Blackstone, CVC consider bids for Superstruct festivals firm, sources say

LONDON, April 11 (Reuters) - Blackstone and CVC are among a list of potential bidders for European festivals organiser Superstruct Entertainment, several sources with knowledge of the situation told Reuters.

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9 Apr 2024 22:39

Argentina's Banco Galicia bets on lower inflation, rates after HSBC deal

BUENOS AIRES, April 9 (Reuters) - Argentina's Banco Galicia, buying HSBC's local assets in a near $500 million deal, is betting that new libertarian President Javier Milei will bring down soaring inflation and ease rates to boost lending in the South American nation.

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9 Apr 2024 15:40

Financial firms tout energy business after West Virginia restrictions

NEW YORK, April 8 (Reuters) - West Virginia has added Citi, HSBC and two other financial firms to a list of institutions that may be barred from some state business due to their energy finance policies, prompting three of them to assert their commitment to that industry.

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9 Apr 2024 15:12

London close: Stocks slip ahead of ECB, US inflation print

(Sharecast News) - London markets closed lower on Tuesday, as investors braced for a key US inflation reading as well as a policy announcement from the European Central Bank later in the week.

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HSBC's Argentina exit doesn't impact valuation, Shore Capital says 'buy'

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TOP NEWS: HSBC to take USD1 billion loss on sale of Argentina business

(Alliance News) - HSBC Holdings PLC on Tuesday said it will sell its business in Argentina to Grupo Financiero Galicia SA, which it called the largest private financial group in the South American country.

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HSBC takes $1 bln hit from Argentina sale as Asia pivot continues

Grupo Financiero Galicia to buy the business for $550 mln

*

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