Company
LON:HSBA
HSBC serves customers worldwide from more than 9,500 offices in 85 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. HSBC is one of the world's largest banking and financial services organisations.
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As many as 1.9mln TSB customers were left unable to access their own money in April, after the bank tried to introduce a new computer system, resulting in an enquiry from the City regulator and the resignation of the bank's chief executive
“RBS has been the best of a bad lot, with Standard Chartered, perhaps weighed down by concerns over its emerging markets, the worst of the FTSE 100’s Big Five, in share price terms,” said AJ Bell investment director Russ Mould
UBS said Barclays is its top pick of European banks
Despite its size, HSBC has traditionally found it difficult to make its size count in investment banking
As the Clash sang: should I stay or should I go? Any number of mining companies, big pharma, Diageo, Ferguson, Aggreko and Ashtead could all make the jump but three companies in the financial sector look the most likely to up sticks.
Investments and investor services
The UK blue-chip benchmark finished down nearly 139 points lower at 7,006 - not far from the 7,000 mark
HSBC has become the latest major bank to settle over the mis-selling of residential mortgage-backed securities, following penalties paid by RBS and Barclays
The London-listed company has increased its interest to 6.36% after acquiring shares valued at more than $2.755 million.
FTSE 100 closed the day 35 points lower as the situation in Italy rattled markets
Goldman’s online retail bank, named Marcus after the group’s founder, is offering an interest rate on savings of 1.5%
The bank will be open to the Wall Street giant’s UK employees before its official launch
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The UK blue-chip benchmark closed up over 58 points at 7,556, while its mid-cap cousin FTSE 250 added almost 142 points
Investments and investor services
Investors in the B&Q owner will be hoping for a BBQ boost sufficient to offset the springtime freeze.
RBS came joint last with Clydesdale Bank while Lloyds was ranked the same as TSB, which was hit by an IT crisis in April
UBS prefers domestic banks over Asia-focused HSBC due to downside risks, including income and cost headwinds
Iain Mackay joins the international drugs giant next January
Lloyds and HSBC have come out on top in dividend payouts with a projected 2018 yield of 5.4% for the two lenders
“We are taking firm steps to deliver the strategy we outlined in June,” said HSBC chief executive John Flint
Investments and investor services
At the close, the UK blue chip index was 4.68 points higher at 7,663.78, just below the session peak of 7,681.86, having recovered from a low of 7,636.60
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Aside from HSBC's numbers, Prudential, L&G, Standard Life Aberdeen, and Hargreaves Lansdown are all on the results docket in the coming week
