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HSBC Holdings has announced the issuance of GBP750 million in 5.813% Fixed to Floating Rate Notes, set to mature in 2033. These notes will be available for trading on the London Stock Exchange, enhancing the bank's funding options under its Debt Issuance Program.
HSBC Holdings repurchased approximately 8.78 million shares on May 22, totaling HKD811 million. This included 5.77 million shares in the UK market at a weighted average price of GBP8.7803 and 3.01 million shares on the Hong Kong Stock Exchange at an average price of HKD92.6543.
The recent downgrade of the US's AAA rating by Moody's has heightened concerns over the USD, prompting investors to consider rebalancing their FX exposure. With expected gradual USD weakness, opportunities to diversify into currencies like EUR, JPY, GBP, and AUD are emerging, alongside maintaining a 5% gold allocation due to ongoing geopolitical tensions. Additionally, the AUD faces downside risks from a dovish RBA, while the USDHKD remains a viable funding currency within its pegged trading band, particularly when interest rate differentials favor HKD borrowing.
HSBC Holdings repurchased a total of approximately 7.78 million shares on May 19, with around 4.97 million shares bought in London at prices between GBP8.725 and GBP8.821, totaling about GBP43.62 million. Additionally, 2.82 million shares were acquired on the Hong Kong Stock Exchange at prices ranging from HKD90.8 to HKD91.45, amounting to approximately HKD256 million.
UBS is offering pensioners 90% compensation for losses incurred from risky currency products, a surprising move for the bank. Clients, including a pensioner who lost nearly half a million, were not adequately warned about the dangers of these investments, leading to significant financial distress. This offer aims to mitigate potential court cases stemming from the bank's lack of due diligence in selling these high-risk products to retail clients.
A long position on GBP/USD is recommended, entering at $1.3360 after a breakout from a downtrend line. With a stop loss at $1.3139 and a target of $1.3850-$1.3900, this trade capitalizes on the British pound's strength following a US debt downgrade and potential UK-US trade deal. Traders should assess their risk tolerance due to the high-risk nature of this opportunity.
Tesla is forming a special committee to explore new compensation options for Elon Musk after a court invalidated his £45 billion pay package, citing flawed negotiations with non-independent board members. Musk has threatened to leave if he doesn't gain more control over the company, emphasizing the need for a larger stake to protect Tesla from activist investors. The committee's efforts could lead to an appeal or a revised compensation plan, as the stakes rise for both Musk and shareholders regarding his role in the company's future.
Deutsche Bank has lowered its price target for Future PLC to GBP18.75 from GBP19.15 while maintaining a Buy rating. The company reported a slight 1% organic revenue decline to £378.4 million, attributed to a challenging U.S. macro environment, but exceeded profit expectations with an adjusted operating profit of £100.7 million and EPS of 59.7p. Future PLC also announced a new £55 million buyback program, reflecting confidence in its financial health.
Deutsche Bank has raised its price target for Premier Foods Plc from GBP2.10 to GBP2.30, maintaining a Buy rating. Analyst Damian McNeela noted significant progress in the company's fiscal year 2025 results, highlighting an 8% increase in Branded volumes and a 4.4% rise in revenue, alongside successful international expansion and strong performance in new product lines. Investments in supply chain capabilities are set to increase, reflecting a positive outlook for sustained growth.
The European Investment Fund (EIF) and BNP Paribas Leasing Solutions have signed a €200 million investment guarantee aimed at supporting SMEs and small mid-caps in France, Germany, Italy, and Spain. This initiative, backed by the InvestEU programme, focuses on financing projects that promote sustainability and combat climate change, including sustainable mobility and renewable energy. The partnership aims to enhance innovation and competitiveness among European SMEs while facilitating their transition to low-carbon models.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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