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Banco Santander has rejected NatWest's bid of approximately £11 billion ($14.63 billion) for its UK retail bank, citing that the offer undervalued the business. A Santander spokesperson emphasized that the UK operations are not for sale and are integral to the bank's diversified model, which aims for sustainable long-term returns. Additionally, Barclays had previously approached Santander regarding a potential bid, but discussions did not advance as Santander reassessed its UK presence.
BNP Paribas has announced that no stabilisation was carried out for the Ocado Group PLC's securities offering, which totals £300 million with a five-year maturity. The offer price was set at 100, and the stabilisation managers included major banks such as Barclays and Goldman Sachs. This announcement is not an invitation to purchase securities in the United States, where they have not been registered under the Securities Act of 1933.
HSBC Holdings has repurchased 12.166 million shares for a total of HKD1.056 billion as of May 8. In the UK, 7.308 million shares were bought at prices between GBP8.353 and GBP8.463, while in Hong Kong, 4.858 million shares were acquired at HKD86.25 to HKD87.55.
The GBP/USD rally is losing momentum near key resistance levels of 1.3430–1.3500, with the daily MACD indicating a downturn. Support at 1.3230 is critical; a breach could lead to a decline towards the March highs of 1.3070/1.3010, while overcoming 1.3500 is essential for a sustained uptrend.
The Bank of England's upcoming meeting is anticipated to influence market dynamics, with a 25bp rate cut to 4.25% expected. Analysts suggest that the phrasing regarding a "gradual and careful" approach to monetary policy will be crucial; maintaining this could support a sterling rally. Market pricing indicates expectations for multiple rate cuts this year, while GBP/USD may be affected by global risk sentiment.
HSBC has downgraded Deliveroo's stock rating from 'Buy' to 'Hold' amid DoorDash's acquisition offer of 180 pence per share, valuing Deliveroo at approximately GBP 2.9 billion. The offer represents a 44% premium over Deliveroo's recent closing price, and analysts anticipate limited regulatory scrutiny due to the lack of overlapping operations between the two companies. Key shareholders support the acquisition, leading to a consensus that Deliveroo's stock will likely trade near the offer price.
HSBC Holdings plc (LON:HSBA) shares surpassed their 200-day moving average, trading at GBX 846.18 ($11.25) with a volume of over 14 million shares. Analysts maintain a "Moderate Buy" rating, with Bank of America setting a target price of GBX 1,035 ($13.76) and Citigroup raising theirs to GBX 1,070 ($14.22). Insider transactions included sales by Georges Elhedery and Pam Kaur, totaling over £792,000.
Rabobank forecasts the Pound Sterling will underperform against the Euro over the next year, predicting an exchange rate of 1.1494 as EUR/GBP rises to 0.87. Factors contributing to this outlook include stagnant UK growth and fiscal constraints, contrasted with optimism surrounding Germany's fiscal stimulus. The Bank of England is expected to cut rates, further impacting GBP's performance.
UBS has upgraded WEIR Group's stock rating to Buy and raised the target price to GBP 28.50, reflecting confidence in the company's Performance Excellence plan, which has seen cost savings forecasts increase significantly. The firm anticipates potential savings of GBP 125 million by 2026, leading to an adjusted EBITA margin of 23.4%, surpassing market expectations. With strong financial metrics and resilience against economic downturns, WEIR Group is positioned for robust future performance.
The Bank of England is expected to implement a fourth consecutive interest rate cut on May 8, reducing the Bank Rate from 4.5% to 4.25% as part of a gradual easing cycle amid easing inflation pressures. Analysts anticipate a cautious approach, with potential for further cuts in 2025, influenced by mixed economic indicators and external factors like global trade tensions. The decision will likely impact various asset classes, including currencies and equities, as traders navigate heightened volatility around the announcement.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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