$HSBA.L

7 stories mentioning HSBA.L

Every FINWIRES story that references HSBA.L, newest first.

UK Equities Close Little Changed; HSBC Unit Faces Criminal Charges in France

London's FTSE 100 closed 0.07% in the green on Friday amid the release of the Bank of England's Decision Maker Panel survey.The survey, conducted May 8 to 22, received 2,086 responses from chief financial officers of small, medium and large businesses in the UK. Results showed that firms expect the year-ahead consumer price index in the country to increase 3.7% in the three months to May.Berenberg said the survey boosted confidence that higher energy prices will not trigger a price-wage spiral despite soft demand and a weak labor market. "We stand by our forecast that the BoE will not raise interest rates as investors expect, but instead resume cuts by year end," Berenberg added.Meanwhile, average house prices in the UK dipped 0.1% month over month in May, in line with the decline in the previous month, according to data from Halifax. Year over year, average house prices in the UK rose 0.5% in May, compared with the 0.4% gain in April.In corporate news, France's National Financial Prosecutor's Office filed charges of organized money laundering and conspiracy to commit offenses such as embezzlement of public funds, breach of trust, or bribery of a public official against HSBC's (HSBA.L) Swiss unit. The charges relate to suspicions that HSBC Private Bank Suisse helped Lebanon's former central bank chief to embezzle more than $300 million between 2002 and 2015.The banking group toldit cannot comment on a legal matter and will continue to cooperate with the ongoing investigation. At closing, its stock declined 0.45%.On the geopolitical front, Iran said it fired warning missiles and drones toward US warships in the Gulf of Oman after accusing Washington of interfering with maritime traffic and seizing oil tankers, while US-Iran diplomatic efforts showed little sign of progress. Oman said operations at its Mina al Fahal oil export terminal were continuing normally despite earlier reports of disruptions.

FTSE 100$HSBA.L

Japan11d ago

UK Shares Rise; HSBC, StanChart Fall Amid New China Rules

London's FTSE 100 closed 0.27% in the green on Thursday as Israeli strikes in southern Lebanon continued, hours after the US brokered a ceasefire between the two countries.Israel will continue to attack Lebanon for the time being, Reuters reported, citing Defense Minister Israel Katz. The ceasefire is conditional on a suspension of attacks from Hezbollah, which has rejected the plan, according to the news outlet.On the economic front, Britain's construction sector activity contracted at its fastest pace in six years in May amid weaker orders and heightened economic uncertainty, S&P Global said. The UK Construction PMI fell to 38.2 from 39.7 in April, below the 40.2 consensus estimate, extending the sector's contraction streak to 17 months."Concerns about a prolonged decline in construction order books, alongside unfavourable near-term UK economic prospects, weighed on business optimism in May. This index has fallen sharply since the start of 2026, and confidence levels are now almost as low as those seen ahead of last autumn's Budget," S&P Global Market Intelligence Economics Director Tim Moore said.On the upside, the UK's new car registrations climbed 7.1% year over year to 160,662 units in May, according to data from the Society of Motor Manufacturers and Traders. SMMT said the latest reading reflects the best recorded for the month since 2019 due to the resurgence of private buyers, though it remains 12.6% behind pre-pandemic levels.In corporate news, Rio Tinto Group (RIO.L) dropped 2.79% on the blue-chip index after RBC Capital Markets downgraded the stock to underperform."Rio Tinto has benefitted from a strong flight to quality YTD (+8% since the conflict began) as fears mount around industry costs/availability of key inputs," analysts wrote. "However, with exception of aluminium (28% of EBITDA), it is difficult to see further upside in the commodity basket given the warning signs in the Chinese economy. Furthermore, we would not be surprised to see further expensive corporate action as they seek to bolster copper exposure."Meanwhile, Prudential plc (PRU.L), Standard Chartered (STAN.L) and HSBC (HSBA.L) lost 7.60%, 2.81% and 1.80%, respectively, after the South China Morning Post reported that mainland Chinese residents were facing tighter restrictions on opening offshore accounts at major Hong Kong banks, weighing on financial institutions with exposure to China.

FTSE 100$HSBA.L$PRU.L$RIO.L$STAN.L

Research19d ago

Rothschild & Co. Redburn Raises HSBC PT, Keeps Neutral Rating

Rothschild & Co. Redburn on Wednesday increased its price target for British bank HSBC Holdings (HSBA.L, HSB.PA) to 15.00 pounds sterling from 13.00 pounds, while maintaining its neutral rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$HSBA.L

US Markets25d ago

UK-GCC Landmark Trade Pact Expected to Boost British Economy by GBP3.7 Billion Annually

The UK's newly secured free trade agreement with the Gulf Cooperation Council is projected to inject 3.7 billion pounds sterling per year into the British economy.The British government also expects the deal, which is a first between the GCC and a G7 nation, to boost bilateral trade by 19.8%, potentially adding 15.5 billion pounds annually to UK-Gulf trade in the long run, according to a Wednesday release. The member states of the GCC include Saudi Arabia, the United Arab Emirates, Bahrain, Kuwait, Oman and Qatar.Under the trade pact, tariffs on food exports, medical equipment and advanced manufacturing will be reduced or cut completely. British services, which account for 80% of the UK economy and half of the country's exports to the GCC, will get guaranteed market access.In a GCC first, the deal also ensures the "free flow of data," allowing UK companies to legally store and process business and financial data outside the Gulf. The GCC also committed to a simpler and more efficient customs process, with standard goods cleared within 48 hours and perishable shipments released within six hours.Once fully implemented, tariffs on 93% of UK exports to GCC are expected to be eliminated, cutting annual duties by 580 million pounds, with 360 million pounds of tariffs to be removed on the first day the agreement takes effect. To implement the deal, the UK and the GCC must finalize the legal text, officially sign the treaty and complete their respective ratification processes.Jasem Albudaiwi, the GCC's secretary general, said the conclusion of the talks will add to "cementing the economic pathways of both regions for generations to come." Meanwhile, British Prime Minister Keir Starmer said the agreement is a "huge win for British business, and for working people who will feel the benefits in the years ahead through higher wages and more opportunities." The UK expects wages to rise by 1.9 billion pounds annually over the long term as a result of the deal.The British Chambers of Commerce Qatar Chairman Emad Turkman expects the deal to generate new business for companies in sectors such as financial services, construction, energy, professional services, hospitality, education and technology.HSBC (HSBA.L) Group Chief Executive Georges Elhedery said the GCC represents a region of "growing strategic importance and long-term opportunity." Elhedery added that the bank, with a footprint spanning the UK and all six Gulf states, sees "first-hand the opportunity this agreement can unlock" and is prepared to help businesses invest and grow.

^DFMGI^FADGIFTSE 100^TASI$HSBA.L

Asia Markets41d ago

UK Shares Drop as Holiday-shortened Week Starts with HSBC Earnings, Geopolitical Tensions

After a long weekend in the UK, the FTSE 100 closed 1.40% lower on Tuesday as corporate earnings continued to pour in against the backdrop of a fragile US-Iran ceasefire.British banking group HSBC (HSBA.L) dropped 5.86% after reporting first-quarter results that were described as "mixed" by BofA Global Research, with profit after tax attributable to ordinary shareholders of the parent edging up year over year to $6.94 billion from $6.93 billion."HSBC printed an ok set of Q126 numbers," BofA said. "[Pretax profit] ex notable items was in line with consensus, with income beat (from fees and other income) offset by higher costs and impairments. Banking [net interest income] was in line. We are encouraged by HSBC's continued balance sheet and Wealth fee income growth, and remain confident in management's ability to manage cost. While [expected credit loss] was noisy in Q1, we are not concerned about the fundamental credit quality of HSBC's loan book."On the upside, Intertek Group (ITRK.L) rose 5.95% to lead the blue-chip index after confirming it had received a third unsolicited, indicative and conditional proposal from Swedish private equity firm EQT, offering 58 pounds sterling per share in cash, up from prior rejected bids of 54 pounds per share and 51.50 pounds per share."We raise ITRK to Outperform and our [price target] by ~30% to GBP58.50 following announcements of a strategic review to potentially split the business in two and of potential private equity interest in the whole group," RBC Capital Markets said. "We think the status quo is the least likely outcome and think key protagonists have their eye on an eventual US listing of the core testing assets to sit alongside highly comparable, highly valued UL Solutions."In the economic corner, the UK's new car registrations surged 24% year over year to 149,247 units in April, according to data from the Society of Motor Manufacturers and Traders. The reading indicated a recovery in the car market from the negative tax change impact in 2025 and marked the best outturn since 2019, SMMT said."The mounting cost of compliance threatens to limit consumer choice, overall decarbonisation and the sector's competitiveness so the need for a rapid review of the transition to align policy with market realities is unchanged, else Britain's attractiveness as a vehicle market and manufacturing hub will be put at risk," said SMMT Chief Executive Mike Hawes.

FTSE 100$HSBA.L$ITRK.L

US Markets41d ago

HSBC Affirms Midterm Targets as First-quarter Revenue Offsets Higher Credit Losses

HSBC (HSBA.L) upheld its midterm outlook on Tuesday as higher fee and interest income compensated for greater expected credit losses and operating expenses.For the three months ended March 31, profit after tax attributable to ordinary shareholders of the parent edged up year over year to $6.94 billion from $6.93 billion as revenue growth from wealth fees and net interest income partly offset higher impairment charges, operating expenses, and other one-off losses. Pretax profit slipped to $9.38 billion from $9.48 billion.Net interest income jumped annually to $8.95 billion from $8.3 billion, led by deposit balance growth and lower market interest rates. Net fee income also rose to $3.72 billion from $3.32 billion.The British lender's net operating income was $17.32 billion, up from $16.77 billion a year ago, thanks to firm-wide revenue growth across each of its four main businesses. The annualized return on average tangible equity decreased to 17.3% from 17.9%.Against this backdrop, the board declared an unchanged first interim dividend for 2026 of $0.1 per share and affirmed group financial targets for an RoTE of at least 17%, excluding notable items, for 2026 to 2028.For 2026, HSBC updated its expectations for banking net interest income to $46 billion from at least $45 billion on the back of an improved interest rate outlook. The company also flagged an expected credit losses charge of 45 basis points as a percentage of average gross loans, higher than the guidance in February of 40 basis points."The Group is well positioned to manage the changes and uncertainties prevalent within the global environment in which we operate, including in relation to the conflict in the Middle East," HSBC said. The company warned that it could expect a mid-to-high single-digit percentage adverse impact on its pretax profit in a severe stress scenario that includes higher oil prices, rising inflation, a material slowdown in GDP and rising unemployment, among others.

$HSBA.L

Research62d ago

BNP Paribas Downgrades HSBC to Neutral Rating, Trims PT

BNP Paribas on Tuesday downgraded HSBC Holdings (HSBA.L) to neutral from outperform and lowered its price target to 14.5 pounds sterling from 15 pounds.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$HSBA.L