HSBC has been given a 'Neutral' rating by UBS, with a target price of 658 pence. The uncertainty surrounding potential restructuring expenses during HSBC's organizational changes was highlighted by analyst Jason Napier.

The bank, which has a workforce of around 214,000, may face significant costs as it adjusts its functions to a new structure. The new CEO, Georges Elhedery, is expected to play a crucial role in this transition and has the potential to implement cost reductions. The impact of these changes on HSBC's operational efficiency and financial performance is being closely monitored by the market.

HSBC shares were trading at €8.244, reflecting a 0.97% increase for the day. Positive market sentiment towards the bank can be seen in various trading venues, including Frankfurt and Munich, where similar upward trends were observed, amidst the ongoing restructuring efforts.