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HSBC Holdings plc will see its stake in Bank of Communications (BoCom) diluted from 19.03% to 16.06% following BoCom's plan to issue approximately 13.78 billion new A ordinary shares at RMB8.71 each. This share issuance is part of efforts by Chinese financial authorities to boost economic growth. Despite the dilution, HSBC's CET1 capital ratio will remain largely unaffected, and the bank will continue to account for its share of BoCom's profits or losses.
Huawei Technologies reported a 28% drop in net profit to 62.6 billion yuan ($8.6 billion) in 2024, despite a 22% revenue increase to $118.2 billion, driven by strong sales in consumer goods and automotive services. The profit decline was attributed to increased investments in advanced technologies and a lack of business sales gains. The company spent over 179.7 billion yuan (nearly $25 billion) on R&D, employing more than half of its workforce in this area, while facing challenges from U.S. trade restrictions and security concerns.
Lloyds Bank's share price has risen 31% over the past year but faces challenges ahead, particularly with a Supreme Court case regarding car-loan mis-selling set to begin on April 1. The bank has set aside £1.15 billion for potential costs related to this issue, which could significantly impact its financial outlook. Meanwhile, Close Brothers Group has seen its share price drop 34% over the past year, with expectations of rising operating expenses and a forecast loss, raising concerns about its future performance.
UBS Group AG has reduced its holdings in Renalytix PLC to below 5%, exempting the firm from reporting obligations. This shift may influence market dynamics and investor perceptions regarding Renalytix, a company focused on AI-enabled diagnostics for kidney disease. Year-to-date, Renalytix's stock has seen a price performance increase of 13.75%.
UBS has maintained a "Neutral" rating for Allianz shares, setting a target price of 320 euros, as analyst Will Hardcastle favors life insurers over non-life in Europe. Allianz shares fell 0.7% to EUR 352.80, with a 9.3% potential decline to the target price, despite a 19.2% rise since early 2025. The company is set to release its Q1 2025 balance sheet on May 15, 2025.
Lloyds Banking Group Pensions Trustees Limited has secured its third and fourth longevity hedging transactions, covering £5.1 billion in liabilities across two pension schemes. The agreements, structured as insurance policies with Rothesay as the insurer and reinsurance from Pacific Life Re and PFI, ensure that pension benefits remain unaffected for members. This move further mitigates longevity risk and enhances the security of the pension schemes.
Barclays has upgraded Bunzl to "overweight," citing a stronger FY25 outlook and M&A potential. The firm notes that Bunzl's shares are trading at historical lows, presenting an attractive entry point, with expected annual earnings growth of approximately 6% through FY27, supported by M&A and buybacks. Key catalysts include diminishing deflation and a stable pricing environment, with a price target set at 3,650p, indicating over 20% upside.
A new drama titled "Make It Happen," featuring Brian Cox as Adam Smith and Sandy Grierson as Fred Goodwin, will explore the Royal Bank of Scotland's role in the 2008 financial crash. Written by James Graham and directed by Andrew Panton, it marks Cox's return to Scottish stages after a decade. The world premiere will open the Edinburgh International Festival in 2025, following preview performances at Dundee Rep Theatre, with tickets available from March 27.
The Bank of England has proposed an increase in the deposit guarantee for savers. Lloyds Banking Group plc, a major British banking entity, reports that its net income is primarily derived from retail banking (58.4%), followed by commercial banking (30.7%) and insurance and wealth management (6.7%). By the end of 2024, the group managed GBP 482.7 billion in current deposits and GBP 459.9 billion in current loans.
Deutsche Bank has adjusted its price target for PepsiCo, Inc. to $170 from $174 while maintaining a Buy rating. PepsiCo is a global leader in non-alcoholic beverages and snacks, with 60% of net sales coming from North America, followed by Europe (15.1%), Latin America (12.8%), Africa/Middle East/South Asia (6.8%), and Asia/Pacific/Australia/New Zealand (5.3%). The company's diverse product range includes popular brands such as Aquafina, Gatorade, Lay's, and Doritos, with significant sales concentrated in the United States (56.3%).
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HSBC stake in BoCom to decrease after new share issuance
15:14 31.03.2025
huawei reports 28 percent profit drop despite 22 percent revenue surge
15:12 31.03.2025
Lloyds share price rises but faces challenges amid legal uncertainties
14:40 31.03.2025
ubs reduces stake in renalytix plc below five percent
14:30 31.03.2025
ubs maintains neutral rating for allianz with target price of 320 euros
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Allianz SE
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14:08 31.03.2025
Lloyds Banking Group secures £5.1 billion in pension longevity transactions
14:05 31.03.2025
barclays upgrades bunzl on strong outlook and m&a potential
13:43 31.03.2025
new drama explores royal bank of scotland's role in financial crash
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The Royal Bank of Scotland N.V. Issuer Callable Fixed To Floating Fully Principally Protected Note AATIFXX
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Andrew Panton
James Graham
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Brian Cox
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13:30 31.03.2025
bank of england considers increasing deposit guarantee for savers
13:23 31.03.2025
deutsche bank lowers pepsico price target while maintaining buy rating
13:21 31.03.2025
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