$HSBC

ENEL (ENEL.MI) Sta cercando di vendere l'intera attività nelle rinnovabili in India e ha ingaggiato Hsbc per la transazione, secondo due fonti a conoscenza del dossier, citate in un articolo della testata finanziaria indiana Mint.

https://www.reuters.com/business/finance/hsbc-q3-pre-tax-profit-more-than-doubles-misses-estimates-2023-10-30/

Hsbc: utile vola in 3* trim trainato da tassi interesse

_"(Il Sole 24 Ore Radiocor Plus) - Milano, 20 set - Chiusura positiva per le Borse europee nel giorno della Federal Reserve. A Piazza Affari il Ftse Mib ha terminato le contrattazioni in progresso dell'1,64% con lo sprint di Unicredit (+4,74%) dopo l'annuncio dell'anticipo del maxi buyback e la conferma dei target di distribuzione del capitale da parte dell'amministratore delegato Andrea Orcel. Segno piu' anche per il Cac40 di Parigi (+0,67%) e il Dax40 di Francoforte (+0,75%), in una seduta che a livello settoriale ha visto premiare i comparti Auto, Banche e Vendite al dettaglio. L'attenzione degli investitori e' puntata sulla Federal Reserve, che oggi ci si aspetta lascera' invariati i tassi di interesse (5,25%-5,5%, il piu' alto degli ultimi 22 anni). Tuttavia, sara' importante valutare le previsioni economiche che saranno diffuse insieme al comunicato sui tassi e, soprattutto, capire quali siano le indicazioni sulla traiettoria futura della politica monetaria, anche in vista della riunione di novembre. Guardando ai titoli, a Milano, giornata di acquisti su Amplifon (+5,64%), grazie alla 'promozione' di Hsbc, seguita da Diasorin (+4,51%), che recupera dopo la recente debolezza. In evidenza anche Stellantis (+3,12%), con il mercato auto europeo in rialzo ad agosto e continuando a ignorare lo sciopero negli Usa. In rosso, invece, Saipem (-2,9%), quando il prezzo del petrolio ha rallentato la sua corsa, recuperando comunque dai minimi di giornata in chiusura dei mercati europei. "_

AMPLIFON (AMP.MI) Hsbc rivede al rialzo il giudizio a 'Buy' da 'Hold'.

_"(Il Sole 24 Ore Radiocor Plus) - Milano, 19 set - Cautela sulle Borse europee in avvio di seduta, nel giorno in cui prende il via la riunione della Fed che si chiudera' domani con la decisione sui tassi e mentre non si arresta la corsa del greggio. A Milano il Ftse Mib ha aperto in calo ma sale ora dello 0,15%, Parigi ha recuperato la parita' come Londra e Madrid, Francoforte cede lo 0,1% e Amsterdam dello 0,09%. Il mercato si aspetta tassi fermi nella riunione della Fed di domani, ma la domanda e' se ci saranno o meno altre strette prima della fine dell'anno e come saranno le previsioni su inflazione e crescita. Intanto, sul fronte dei prezzi, continua la corsa del super-greggio che non lascia sperare in un raffreddamento dei prezzi energetici: il Brent novembre e' a 94,94 dollari (+0,54%) dopo un top a 95,15 mentre il Wti pari scadenza e' a 91,26 dollari (+0,75%). Sull'azionario milanese, le banche sostengono il Ftse Mib con Mps che stacca le altre (+2,56%) dopo le indiscrezioni sulla volonta' del Governo di mantenere una quota di controllo nella banca senese. Bene anche il Banco Bpm (+0,8%) e Bper Banca (+0,5%). Poco mossa Mediobanca (+0,04%) dopo che il comitato nomine ha messo a punto la lista di candidati del cda in vista del rinnovo dei vertici, che sara' sottoposta domani all'approvazione del board, una lista che va nel segno della continuita' operativa per quanto riguarda le posizioni di vertice, puntando alla conferma dell'a.d. Alberto Nagel e del presidente Renato Pagliaro. Sale Stellantis (+1%) in attesa di novita' dagli Usa sullo sciopero del settore auto, mentre e' in coda Moncler (-1m8%) dopo il taglio di rating di Hsbc. Deboli i farmaceutici, perde l'1,5% Cnh Industrial."_

ecco perché crollava ieri, chissà perché lo sappiamo sempre il giorno dopo il crollo > @Renato_Decarolis said: Moncler (MONC.MI). HSBC e RBC tagliano il target price.

Moncler (MONC.MI). HSBC e RBC tagliano il target price.

Moncler (MONC.MI) HSBC taglia il target price a 77 euro.

**Market Update – August 22 – US 10 year yield hits decades-long high, Tech rallies** Futures are marginally higher this morning after US100 and US500 snapped a four day negative streak yesterday with the tech heavy index posting its biggest advance of the month (+1.65%) boosted by Tesla and Nvidia‘s performances. The chip maker rose 8.47% after being upgraded by HSBC (target price $780) and only 2 days before the much-anticipated earnings report that will come out Wednesday after the bell when we’ll find out whether the company’s revenue forecast – which was 50% higher than Wall Street estimates – will come to fruition. https://analysis.hfeu.com/en-eu/723151/

Snam (SRG.MI). HSBC aumenta il target price a 5,2 euro.

Eni (ENI.MI) HSBC taglia a Hold da Buy 14,2 euro è il nuovo target price.

CPI ESTIMATES FOR TOMORROW $SPY BLOOMBERG 3% CITI 3% HSBC 3% UBS 3% NOMURA 3% GOLDMAN SACHS 3.1% BMO 3.1% BARCLAYS 3.1% CIBC 3.1% CREDIT SUISSE 3.1% MORGAN STANLEY 3.1% SCOTIABANK 3.1% TD SECURTIES 3.1% SNIPER TRADES 3% JP MORGAN 3.2% RBC 3.2% VISA 3.2% MEDIAN 3.1%

By David Milliken and Suban Abdulla LONDON (Reuters) -The Bank of England raised interest rates by a bigger-than-expected half a percentage point on Thursday, after it said there had been "significant" news suggesting British inflation would take longer to fall. The BoE's Monetary Policy Committee (MPC) voted 7-2 to raise its main interest rate to 5% from 4.5%, the highest since 2008 and its largest rate increase since February, following stickier inflation and wage growth since policymakers last met in May. "The economy is doing better than expected, but inflation is still too high and we've got to deal with it," BoE Governor Andrew Bailey said after the decision. "If we don't raise rates now, it could be worse later," he added. Economists polled by Reuters had expected a move to 4.75%, although financial markets earlier on Thursday had seen a nearly 50% chance of a rise to 5%, following higher-than-expected inflation data released on Wednesday. Sterling briefly spiked higher against the U.S. dollar while two-year bond yields briefly dipped below 5% after the BoE decision. An inversion of the two-year to 10-year yield curve, often a sign that investors expect a recession, deepened. Joseph Little, Global Chief Strategist at HSBC Asset Management, said Britain was in the worst position of major Western economies, hit not only by the cost of living crisis but also a shortage of workers and fast-rising wages. "Inflation pressures show more persistency and more momentum than other western economies, and that forces the Bank into a hawkish corner," Little said. "Today's statement has increased concerns of a much-higher terminal policy rate, perhaps as high as 6%." BoE policymakers had given little indication that a half-point rate increase was under consideration in the run-up to Thursday's announcement. "There has been significant upside news in recent data that indicates more persistence in the inflation process," the MPC said. "Second-round effects in domestic price and wage developments generated by external cost shocks are likely to take longer to unwind than they did to emerge." MPC members Silvana Tenreyro and Swati Dhingra opposed the rate rise - as they have all others this year - saying that much of the impact of past tightening had yet to be felt, and forward-looking indicators pointed to steep falls in inflation and wage growth ahead. Britain's high inflation rate is also a problem for Prime Minister Rishi Sunak, who has pledged to halve the pace of price growth this year in an attempt to win back voter support ahead of a national election expected in 2024. A spokesperson for Sunak said shortly before Thursday's rates announcement that Sunak supported Bailey. Finance minister Jeremy Hunt said the BoE had his full support and "tackling inflation relentlessly must be the immediate priority". Bailey has been criticised by some lawmakers from Sunak's Conservative Party for not acting sooner and more aggressively on inflation. RATE EXPECTATIONS SURGE Expectations for BoE rate tightening have surged in recent days - sharply raising the cost of new mortgages - and before Thursday's decision financial markets expected the BoE's Bank Rate to peak at 6% by the end of the year. By contrast, economists polled by Reuters last week saw a 5% peak. Britain's economy - which was hit by the shock of Brexit as well as the COVID-19 pandemic and the surge in gas prices caused by Russia's invasion of Ukraine - has dodged a widely expected recession so far in 2023. However, unlike most other big rich economies, output has barely recovered to pre-pandemic levels and growth this year looks set to be a minimal 0.25%, according to BoE forecasts last month. The BoE's rate increase follows the European Central Bank's decision last week to raise rates by a quarter-point to 3.5%, and rate rises by the Swedish and Norwegian central banks earlier on Thursday. While Britain faces a tricky inflation challenge as inflation has been slow to fall from the 41-year high of 11.1% struck last year, other central banks see challenges too. Bundesbank President Joachim Nagel described inflation as a "very greedy beast" on Wednesday, and the U.S. Federal Reserve Chair Jerome Powell said further rate rises remained "a pretty good guess", despite last week's pause. The BoE retained its previous guidance on future policy, which stated that if there were to be evidence of more persistent pressures, then further tightening in monetary policy would be required. The central bank also noted that short-dated British government bond yields had risen sharply - pricing in an average level of Bank Rate of 5.5% for the next three years. The BoE said it would keep a close eye on the impact of higher rates on mortgage costs, as well as rising costs in Britain's rental market. Official figures on Wednesday showed consumer price inflation was unchanged at 8.7% in May and underlying inflation rose to its highest since 1992. Last month the central bank forecast that inflation would fall to just over 5% by the end of this year and be below its 2% target in early 2025.

By Arathy Somasekhar and Andrew Hayley BEIJING (Reuters) -Oil prices rose on Thursday, reversing earlier losses, as a potential pause in U.S. interest rate hikes and the debt ceiling bill passing a crucial vote renewed optimism about further fuel demand growth in the world's biggest oil consumer. Brent crude futures for August rose 32 cents, or 0.44% to $72.92 a barrel by 0518 GMT, while U.S. West Texas Intermediate crude (WTI) rose 25 cents, or 0.37%, to $68.34 a barrel. U.S. Federal Reserve officials on Wednesday pointed towards a potential rate hike "skip" in June that reversed market expectations of an imminent hike that could slow economic growth and weaken oil demand. Additionally, the U.S. House of Representative's passage of a bill suspending the U.S. government's $31.4 trillion debt ceiling improved the chances of averting a disastrous government default. Both benchmarks had fallen steeply in the previous sessions, with Brent down 5.6% and WTI dropping 6.3% as of the close on Wednesday, from last Friday. "Oil markets may have been oversold in the last two trading days due to the sluggish Chinese data and debt ceiling concerns. Sentiment rebounded amid the debt bill’s passage in the House, and (the) Fed’s rate hike pause signal also offered a rebounding opportunity," said Tina Teng, a markets analyst at CMC Markets in Auckland. Demand indications from China, the world's biggest oil importer, are somewhat mixed this week. Official government data on Wednesday reported factory activity contracted in May to the lowest in five months, while service sector activity expanded at the slowest pace in four months. However, the Caixin/S&P Global China manufacturing purchasing managers' index (PMI) on Thursday showed a rise to 50.9 in May from 49.5 in April, tempering concerns about Chinese industrial demand. Prices are also struggling to overcome bearish supply side factors. {{8849|U.S. crcrude oil inventories rose by about 5.2 million barrels last week, according to market sources citing American Petroleum Institute (API) figures on Wednesday. Gasoline inventories also posted a build of about 1.9 million barrels last week, while distillate fuel inventories gained by 1.8 million barrels, according to the API data. Market participants are awaiting government data on U.S. crude stocks due later on Thursday. The data was delayed by a day because of a U.S. holiday earlier this week. [EIA/S] Investors were also watching the upcoming June 4 meeting of OPEC+, the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, after mixed signals so far on whether further cuts are likely. Analysts at HSBC and Goldman Sachs (NYSE:GS) have said they do not expect OPEC+ to announce further cuts at this meeting.

(MONC.MI). HSBC alza il target price a 78 euro.

Banche: Francia chiede 2,5 mld euro tasse arretrate a Bnp, SocGen, Hsbc e Natixis (stampa)

https://www.reuters.com/article/hsbc-results-idCAKBN2WT06L

By Tom Westbrook SINGAPORE (Reuters) -Decades-long foreign bullishness on China's capital markets is breaking down, investment flows and interviews with fund managers suggest, with a new era of uncertainty fuelled by geopolitical risks and U.S. investors especially wary. There have been ample excuses to buy China as the world's second biggest economy gathers steam. Post-pandemic recoveries in exports, property and shopping have run harder than expected. Stock market returns are solid. Jack Ma's reappearance and plans to break up his Alibaba (NYSE:BABA) empire were also seen as ending a few years of regulatory crackdowns. But big, long-term foreign investors, are missing. Their absence, and asset managers' reasons for it, reveal a wariness in the investment community over how to price new risks for capital as China becomes a great power and a great U.S. rival. It is unlikely to be resolved quickly even if the markets keep rallying and China economy keeps global growth ticking. "It's around capital preservation, not really the returns," said Hayden Briscoe, Asia-Pacific head of multi-asset portfolio management, at UBS Asset Management in Hong Kong. "Foreign money at the moment, particularly from the U.S., is reluctant to invest," said Briscoe. He himself is positive on China, but said many managers are steering clear after seeing wartime sanctions erase the value of Russian investments. "(They are) still looking at geopolitical risk and the Russia experience recently probably makes them more tentative than they normally are." Data paints a murky picture, but supports brokers' analysis that the bid from long-only money managers is absent. Flows figures show net foreign buying of about 188 billion yuan ($27 billion) this year. That is large, but most of that was crowded into January when "fast money" hedge funds were riding momentum as COVID rules relaxed and markets rallied. Allocation analysis from data firm EPFR shows a broad downtrend, especially to U.S.-domiciled China funds. Allocation to those hit a record low last October and has been falling on an annual basis for four years, EPFR figures show. HSBC research says global funds are underweight on China and Bank of America (NYSE:BAC) has noted the effect on market dynamics. "Without the long term anchoring investors, the H-share market becomes more volatile, driven by the ins-and-outs of 'quick money'," said Bank of America's chief China equity analyst Winnie Wu after surveying some 30 Hong Kong funds. GAME CHANGER The investment mood reflects political discomfort in the West with China's rise. Competition with the U.S., in particular, has intensified from trade spats to strategic rivalry that has prompted export and investment bans on Chinese chipmaking and other sectors seen as militarily important. Multi-national firms are also re-making their supply chains to avoid such heavy reliance on Chinese manufacturing, trends investors say change the risk-reward calculus on the country. "Virtually from 2000 until pre-COVID, it was all a one-way bet for China," said Ashley Pittard, head of global equities at Pendal in Sydney. "But the game has changed," he said. "They've been the manufacturing hub of the world...(but) the pendulum has shifted. It's not as clean as it used to be...it's not as easy as just throwing money at the big cap Chinese stocks." To be sure, sentiment can shift quickly and plenty of investors remain willing to invest in China and are positive on the outlook - including, for example, sell-side analysts at Morgan Stanley (NYSE:MS) and other major U.S. banks. EPFR figures show allocation to China funds outside the U.S. has increased for two years and mainland markets' recent performance has also been encouraging. Since late October, when rumblings of a shift in China's COVID policy began, the CSI 300 blue chip index and the Shanghai Composite are each up more than 13% against a 6% gain for the U.S. S&P 500 over the same period. "We've come to this conclusion that the rally is maybe one half to one third of the way through. We still think there is opportunity for investors," said Robert St Clair, head of investment strategy at Fullerton Fund Management in Singapore. "The key signpost that will keep the rally going, and that’s what we're watching, is when earnings expectations start to revise upwards." Still, others' hesitancy can be self-fulfilling, if lacklustre flows hold back performance and fail to offer compelling reasons for foreigners to leave their home markets. "We're positive on China over the short term but our long term outlook is neutral to negative," said John Pearce, chief investment officer at Australia's A$115 billion ($75 billion) UniSuper. "As it's impossible to quantify geo-political risks we don't attempt to," he said. "Our reservations about China's long-term investment prospects are based on our outlook for returns to capital." ($1 = 6.9024 Chinese yuan renminbi or 1.4981 Australian dollars)

ENI (ENI.MI) Hsbc alza il target price da 15,20 a 16,25 euro, conferma il Buy.

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_"(Il Sole 24 Ore Radiocor Plus) - Milano, 3 apr - I titoli dell'energia, grazie al balzo dei prezzi del greggio, e quelli delle banche sostengono le Borse europee mentre gli investitori, in attesa dei dati americani del pomeriggio, devono registrare il previsto rallentamento del manifatturiero tanto in Europa quanto in Cina. A meta' seduta Londra (Bp, Hsbc, Barcalys, Lloyds in evidenza) e' la migliore(+0,7%) mentre Zurigo (-0,4%) soffre il calo di Ubs (-3,3%) e di Credit Suisse (-2%) dopo l'apertura di una indagine da parte della Procura Federale svizzera sulle trattative per l'aggregazione tra i due istituti. Piazza Affari sale dello 0,58% dopo un marzo chiuso con un calo complessivo dell'1,3% e segnato dalle turbolenze bancarie: le case di investimento predicano cautela per il mese di aprile suggerendo di puntare sui titoli di societa' di qualita' e sui difensivi mentre i ciclici sono visti con meno favore complice la previsione che la frenata dell'economia si fara' piu' concreta. Sul Ftse Mib spicca l'industria petrolifera in particolare con il +4% di Saipem, grazie a nuove commesse per 650 milioni di dollari nell'offshore e nei progetti di sviluppo di giacimenti gas, e con Tenaris (+3,8%). Anche Eni (+3,7%) e' brillante. I prezzi del petrolio salgono di oltre il 5% e sono ai massimi da un mese a causa dell'inatteso taglio alla produzione da parte dei Paesi esportatori del gruppo Opec+ a partire da maggio: il Brent giugno supera gli 84 dollari al barile, il Wti maggio e' alle soglie degli 80 dollari."_

_"Anche se il procuratore finanziario non ha fatto sapere quali sono le banche coinvolte, il quotidiano Le Monde ha nominato HSBC Holdings Plc, BNP Paribas SA, Societe Generale SA e Natixis come parte dell’indagine.Non sono state precisate le aziende coinvolte. Societe Generale SA ha dichiarato che la sua sede francese è stata perquisita in relazione all’indagine."_

_"(Il Sole 24 Ore Radiocor Plus) - Milano, 20 mar - Ubs bersagliata dalle vendite dopo l'accordo per l'acquisizione del Credit Suisse, che intanto si inabissa. Il titolo della prima banca svizzera attorno alle 9,40 accusa un calo del 12% a 15,04 franchi, mentre l'indice Smi arretra dell'1,6%. Il Credit Suisse, intanto, cede quasi il 63% a 0,6937 franchi, scendendo sotto il prezzo di acquisto (0,76 franchi). L'operazione siglata in extremis nella serata di ieri che vede Ubs rilevare il terremotato Cs per 3 miliardi di franchi con l'azzeramento di bond At1 per 16 miliardi di franchi, sta trascinando al ribasso tutto il comparto bancario in Europa, anche se molti titoli sono risaliti dai minimi toccati nelle primissime fasi della seduta. Sono tutti bancari o del settore finanziario i titoli peggiori dell'indice Stoxx Europe 600: Commerzbank cede l'8,5%, Allfunds il 10%, Deutsche Bank il 7,6%, Societe' Generale il 5,4%, Bnp Paribas il 5%, Ing il 5,3%. Tra le banche italiane, perdite piu' contenute per le big: Intesa perde il 2% e Unicredit il 2,8%, mentre Mps arretra del 5%. Tra le spagnole, il Santander cede del 3%. Tra le britanniche Hsbc e' in calo del 3,2%. Secondo gli analisti di Capital Economics le prospettive del mercato restano molto incerte. 'La struttura dell'operazione Credit Suisse non fa nulla per sistemare le cose, obbligando i detentori di debito obbligazionario ad accusare perdite, mentre vengono protetti alcuni azionisti, il che potrebbe aprire la strada a nuove turbolenze'. Il peso dei crediti a rischio e l'impatto della risalita dei tassi rischiano in effetti di penalizzare gli istituti piu' fragili, fanno notare gli esperti."_

(Reuters) - UBS agreed to buy rival bank Credit Suisse for 3 billion Swiss francs ($3.23 billion) and assume up to $5.4 billion in losses, in a shotgun merger engineered by Swiss authorities to avoid further market-shaking turmoil in global banking. DEVELOPMENTS * Equity futures and Asian stocks struggled to stabilise on Monday, despite initial investor relief over the weekend deal to rescue Credit Suisse and promises of liquidity from central banks. * Credit Suisse told staff its wealth assets are operationally separate from UBS for now, but once they merged clients might want to consider moving some assets to another bank if concentration was a concern. * The Swiss Bank Employees Association said on Monday it was "deeply shocked" by the takeover of Credit Suisse and called on UBS to keep job cuts to an "absolute minimum". * The deal includes 100 billion Swiss francs ($108 billion) in liquidity assistance for UBS and Credit Suisse from the Swiss central bank. * The European Central Bank said on Sunday a Swiss rescue of Credit Suisse was "instrumental" for restoring calm on financial markets but it remained ready to support euro zone banks with loans if needed. * UBS Chairman Colm Kelleher said the bank wants to keep Credit Suisse's Swiss unit, speaking at a news conference announcing the merger between Switzerland's two biggest banks on Sunday. "It is a fine asset that we are very determined to keep and hopefully service their customers and clients as efficiently as Credit Suisse has done," Kelleher said. MARKET REACTION * Standard Chartered (OTC:SCBFF) Plc and HSBC shares each fell more than 6% in Hong Kong on Monday to more than two-month lows. The MSCI index for financial stocks in Asia ex-Japan was down 1.3%. * Safe-haven currencies the yen and U.S. dollar recovered from early steep declines and the risk-sensitive Australian and New Zealand dollars flipped to losses. QUOTES MAX GEORGIOU, ANALYST, THIRD BRIDGE, LONDON: "Today is one of the most significant days in European banking since 2008, with far-reaching repercussions for the industry. These events could alter the course of not only European banking but also the wealth management industry more generally." OCTAVIO MARENZI, CEO, OPIMAS, VIENNA "Switzerland’s standing as a financial centre is shattered – the country will now be viewed as a financial banana republic. The Credit Suisse debacle will have serious ramifications for other Swiss financial institutions. A country-wide reputation with prudent financial management, sound regulatory oversight, and, frankly, for being somewhat dour and boring regarding investments, has been wiped away. RELATED NEWS * The U.S. Federal Deposit Insurance Corp (FDIC) is planning to relaunch the sale process for Silicon Valley Bank after failing to attract buyers in its latest auction, with the regulator seeking a potential break-up of the failed lender, according to people familiar with the matter. One of the options under consideration by the regulator is a sale process for the private bank of SVB for which bids are due on Wednesday, according to one of the sources, who requested anonymity as these discussions are confidential. * Four prominent U.S. lawmakers on banking matters said on Sunday they would consider whether a higher federal insurance limit on bank deposits was needed to stem a financial crisis marked by a drain of large, uninsured deposits away from smaller and regional banks. "I think that lifting the FDIC insurance cap is a good move," Senator Elizabeth Warren, a Democrat, said on CBS's "Face The Nation" program, referring to the Federal Deposit Insurance Corporation's current $250,000 limit per depositor.

HSBC PRIVATE BANKING BUSINESS SCRUTINIZING LOANS LINKED TO CREDIT SUISSE SECURITIES; HAS NOT MADE A FINAL DECISION -RTRS

Eni (ENI.MI). HSBC alza il giudizio a Buy.

hsbc sembra abbia gia' provveduto ad acquistare Silicon Valley Bnak uk

By Geoffrey Smith Investing.com -- HSBC (LON:HSBA) has agreed with the Bank of England to buy the U.K. operations of Silicon Valley Bank (NASDAQ:SIVB) for one pound, following the collapse of its U.S. parent last week. SVB, with $209 billion in assets, was the second-biggest bank failure in U.S. history, and its collapse last week sent shudders through the U.S. financial system. Over the weekend, the U.S. Treasury, Federal Reserve, and Federal Deposit Insurance Corporation had put together a bailout package that essentially protected all of Silicon Valley Bank's depositors, including those with assets above the federally-guaranteed $250,000 limit. The Bank had taken control of SVBUK after its U.S. parent fell victim to a run by depositors after reports of heavy losses on its bond portfolio that wiped out a large part of its capital. "The Bank and (His Majesty's Treasury) can confirm that all depositors’ money with SVBUK is safe and secure as a result of this transaction," the Bank said in a joint statement with the Treasury. "SVBUK’s business will continue to be operated normally by SVBUK. All services will continue to operate as normal and customers should not notice any changes." "No other U.K. banks are directly materially affected by these actions, or by the resolution of SVBUK’s U.S. parent bank," the BoE said. "The wider U.K. banking system remains safe, sound, and well capitalized." For HSBC, the deal gives it access to an operation that made £88 million (£1 = $1.2105) of profit on a loan book of £5.5B last year. "This acquisition makes excellent strategic sense for our business in the U.K.," said HSBC chief executive Noel Quinn. "It strengthens our commercial banking franchise and enhances our ability to serve innovative and fast-growing firms, including in the technology and life-science sectors, in the U.K. and internationally." In contrast to the U.S. action, the resolution of SVBUK will not need underwriting by taxpayers. The authorities had also taken the decision to close Signature Bank (NASDAQ:SBNY), another lender that had suffered a run on its deposits, and to make emergency lending available to other 'eligible' lenders that might suffer similar pressure on their deposit bases. As with SVB, Signature Bank's depositors will all be made whole, although bond and stockholders are expected to take losses. Silicon Valley Bank was known for financing technology startups, which had had to run down their cash balances as higher interest rates caused the supply of - previously abundant - venture capital to dry up. By contrast, Signature Bank was known for acting as banker to the crypto industry, and its SigNet payments network - which facilitates payments by crypto platforms to and from the fiat currency space - had come under particular scrutiny after the collapse in November of FTX. Short-sellers such as Marc Cohodes had accused the bank of money laundering, allegations it had denied. The authorities had justified their intervention as a measure to stop contagion, preferring not to test the robustness of regulations that were put in place after the 2008 crisis. Some of those regulations, enshrined in the Dodd-Frank bill, had subsequently been watered down in 2015 under pressure from the banking industry, with SVB's CEO Greg Becker prominent among those lobbying the Senate for its business not to be too closely scrutinized by the Federal Reserve. Barney Frank, one of the authors of the Dodd-Frank bill, had joined Signature Bank as a director in 2015 after leaving Congress.

HSBC to take over Silicon Valley Bank's U.K. operations - BoE

$MS: 6% $GS: 6.1% $BAC: 6.1% $HSBC: 6% NORD/LB: 6% LLOYDS BANK: 6% TD SECURITIES: 6.1% CREDIT AGRICOLE: 6.1% $NMR: 6% $BAC: 6% $WFC: 6% $CS: 6% Consensus: 6%

Renato se posso cosa succede ad Amplifon? tutto dovuto alle raccomandazioni di (HSBC Reduce 22.0000)nn trovo particolari notizie grazie

Generali (G.MI) annuncia l'avvio all'acquisto di azioni proprie da destinare all'esecuzione del piano di incentivazione a lungo termine approvato dall'assemblea lo scorso 29 aprile nonche' di tutti i piani di remunerazione e incentivazione ancora in corso di esecuzione. Il buyback, spiega una nota, ha ad oggetto l'acquisto di un massimo di 10,5 milioni di azioni e il compimento di atti di disposizione sulle stesse - congiuntamente a quelle precedentemente riacquistate - nell'ambito dei piani di incentivazione. A tal fine, Generali ha sottoscritto un buyback agreement con Hsbc, che procedera' in piena indipendenza agli acquisti, che potranno partire domani e si dovranno concludere entro marzo 2023. Il Leone di Trieste detiene azioni proprie pari al 2,5% del capitale.

**DATI MACRO** COREA DEL SUD Indice BSI manifatturiero HSBC (Gen) 71 (Previsione -, Precedente 70)

By Sruthi Shankar and Ankika Biswas (Reuters) -Wall Street's main stock indexes were set to open sharply lower on Thursday, as the Federal Reserve's guidance to stick to protracted policy tightening quelled hopes of the rate-hike cycle ending anytime soon. The U.S. central bank hiked rates by 50 basis points (bps) on Wednesday, slowing down from four back-to-back 75 bps hikes, although Fed Chair Jerome Powell said recent signs of slowing inflation have not brought any confidence yet that the fight had been won. The Fed's policy-setting committee projected it would continue raising rates to above 5% in 2023, a level not seen since a steep economic downturn in 2007. "The issue was the market was looking for rate cuts in 2023 and that's not compatible with any credible economic scenario because you'd need to have quite a collapse in economic activity and a speedy deterioration of the labor market," said Willem Sels, global CIO, private banking and wealth management at HSBC. Money market participants currently expect at least two 25 bps rate hikes next year and borrowing costs to peak at 4.9% by May next year, before falling to around 4.4% by year-end. Wall Street's main indexes have staged a strong recovery since hitting 2022 lows in October on hopes of a less aggressive Fed, but the rally stalled in December due to mixed economic data and worrying corporate forecasts. Investors also digested economic data on Thursday that showed a steeper-than-expected decline in retail sales in November and the number of Americans filing for unemployment benefits declining last week, indicating a tight labor market. "In some ways today's data reinforces what Powell was saying yesterday that this is going to take time and the market seems to want to try and fast forward through the messy parts and it's just not going to be able to do that because the Fed is not going to let it," said Sameer Samana, senior global market strategist at Wells Fargo (NYSE:WFC) Investment Institute. The Bank of England and the European Central Bank also raised their key interest rate by 50 bps each and indicated more likely hikes in a bid to tame spiraling inflation. At 8:57 a.m. ET, Dow e-minis were down 358 points, or 1.05%, S&P 500 e-minis were down 54.25 points, or 1.35%, and Nasdaq 100 e-minis were down 194 points, or 1.63%. Shares of megacap companies, including Apple (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN) and Microsoft Corp (NASDAQ:MSFT) fell more than 1% each in premarket trading. Tesla (NASDAQ:TSLA) Inc fell 2.9% after CEO Elon Musk disclosed another $3.6 billion in stock sales, taking his total near $40 billion this year and frustrating investors as the company's shares wallow at two-year lows. Netflix Inc (NASDAQ:NFLX) slumped 4.8% after a media report said the entertainment services firm will let its advertisers take their money back after missing viewership targets. Nvidia (NASDAQ:NVDA) Corp slipped 2.6% after HSBC Global Research began coverage on the chipmakers stock with a "reduce" rating, while Western Digital (NASDAQ:WDC) slid 5.2% following a report that Goldman Sachs (NYSE:GS) downgraded the data storage firm’s stock to "sell" from "neutral".

**SVEZIA - HSBC** intende tagliare il 10-15% delle posizioni di chief operating officer a livello globale - Fonti.

**GERMANIA - HSBC port la Germania da neutrale a sovrappesare.**

**REGNO UNITO - HSBC declassa il Regno Unito a neutrale da sovrappesato.**

**REGNO UNITO - HSBC abbassa le previsioni sui tassi di interesse del Regno Unito al 3,75% dal precedente 4,25%, con un ulteriore aumento di 50 punti base a dicembre e di 25 punti base a febbraio.** **HSBC:** Il taglio è dovuto al tono dovish della BoE a novembre e al ritiro di quasi tutti gli allentamenti fiscali.

**DATI MACRO** COREA DEL SUD Indice BSI manifatturiero HSBC (Nov) 75 (Previsione -, Precedente 73)

By Peter Nurse Investing.com - European stock markets are expected to open marginally higher Tuesday, continuing the previous session’s positive tone as investors digest quarterly earnings from the banking sector ahead of the release of a key guide of German business sentiment. At 02:00 ET (06:00 GMT), the DAX futures contract in Germany traded 0.1% higher, CAC 40 futures in France climbed 0.6% and the FTSE 100 futures contract in the U.K. rose 0.1%. European equity markets started the week strongly, with both the DAX and the CAC 40 posting gains of 1.6% on Monday, tracking gains on Wall Street as investors bet that a pronounced economic slowdown could push the Federal Reserve into softening its hawkish stance. Aside from central bank decisions, with the European Central Bank widely expected to lift interest rates again on Thursday, investors are focussing on the quarterly corporate earnings season, with investment banks reporting this week. Swiss banking giant UBS (SIX:UBSG) reported a 24% fall in third-quarter net profit on a decline in market activity, although it beat expectations due to a rise in client funds. London-based rival HSBC (LON:HSBA) reported a 42% drop in third-quarter pretax profits on the back of losses on the sale of its French unit and rising bad loans, but its interest income surged with rates rising around the world. Elsewhere, Swiss drugmaker Novartis (SIX:NOVN) revealed a drop of 4% in quarterly operating income as competition weighed on prescriptions of multiple sclerosis drug Gilenya, while Norwegian aluminum producer Norsk Hydro (OL:NHY) posted third-quarter profits well above expectations. Additionally, business software maker SAP (ETR:SAPG) reported slower-than-expected revenue growth and a drop in profits for the third quarter. Investors will also study the October release of the German Ifo business climate indicator, which is expected to show another drop in confidence in the Eurozone’s largest economy. Germany is headed for recession as the energy standoff with Russia, rising prices and supply bottlenecks take their toll. Oil prices edged higher Tuesday, helped by dollar selling, but gains were limited by continued concerns of slowing global demand growth, particularly from China, the world’s largest importer of crude. The U.S. dollar index edged lower in early trade, making dollar-denominated commodities, including oil, less expensive for foreign buyers. The latest estimate of U.S. crude oil inventories, from the American Petroleum Institute, is due later in the session, and is expected to rise this week after last week’s surprise 1.3 million barrel fall. By 02:00 ET, U.S. crude futures traded 0.1% higher at $84.66 a barrel, while the Brent contract rose 0.1% to $91.31. Additionally, gold futures fell 0.1% to $1,652.30/oz, while EUR/USD traded flat at 0.9874.

European Stock Futures Edge Higher; UBS, HSBC Release Earnings

**HSBC, Regno Unito: Rimuoveremo dalla vendita i nuovi prodotti ipotecari residenziali e buy-to-let e li renderemo nuovamente disponibili mercoledì - Email inviata al broker.**

TIM (TIT.MI) Hsbc dimezza il target price da 0,40 a 0,20 euro e riduce il giudizio da Buy a Hold. E stamattina torna giù di nuovo

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By Rae Wee and Alun John SINGAPORE/LONDON (Reuters) - The rate-sensitive Japanese yen continued tumbling on Tuesday, falling past 142 per dollar, while sterling and the euro tried, and in the euro's case failed, to recover from multi-year lows against the dollar hit the day before. The dollar climbed 1.07% on the yen to 142.1, a fresh 24-year high. The dollar is up 23% against the Japanese currency so far this year. "The FX market is re-focusing on rate hikes by major central banks and the Bank of Japan (BOJ) stood out at the Jackson Hole symposium as the only one that remained resolute about keeping monetary policy accommodative," said HSBC analysts in a note. "USD-JPY’s correlation with US yields has thus rebounded to near their strongest year-to-date level," they wrote in the note, titled, "JPY: staring into the abyss." The bank changed its forecast for the pair to 144 at the end of the third quarter up from 140 previously. The U.S. benchmark 10-year yield was last at 3.2557%, up from Friday's close of 3.191%. U.S. markets were closed on Monday for a holiday. [US/] In contrast, the yield on 10-year Japanese government bonds was 0.24%, due to the BOJ's yield curve control policy. Elsewhere, the pound and the euro both gained over 0.6% against the dollar in morning trading in Europe, though while sterling managed to cling onto some of this, up 0.35% at $1.1564, the euro retreated to trade flat on the day at $0.99205, only just above its 20-year intraday low hit the day before. "That governments are working on price caps, support for the consumer, and really trying to get a grip on the energy crisis helps set a floor under those two pairs," said Samy Chaar, chief economist Lombard Odier. The pound was also performing well on the crosses, gaining 1.44% against the yen. Britain's incoming Prime Minister Liz Truss is considering a freeze on household energy bills to try to avert a winter cost-of-living crisis for millions of households, Reuters reported on Monday. European Union ministers will meet on Sept. 9 to discuss urgent bloc-wide measures to respond to a surge in gas and power prices that is hammering Europe's industry and hiking household bills, after Russia curbed gas deliveries to the bloc. The Australian dollar slid to a seven-week low after the Reserve Bank of Australia raised its cash rate by 50 basis points, but signalled it was not on a preset path for future rate hikes. The Aussie was last 0.43% lower at $0.6768. In China, the authorities' efforts to slow the yuan's recent depreciation were proving unsuccessful, with the yuan slipping to a fresh two-year low of 6.9784 in offshore trade. China's central bank late on Monday cut the foreign exchange reserve requirement ratio (RRR), freeing up dollars for banks to sell. Two dealers also told Reuters South Korean authorities were suspected of selling dollars near the end of the onshore trading session on Tuesday in an apparent intervention to curb the won's weakness. (This story refiles to fixe day of the week in 1st paragraph)

RECAP 8/23 Unusual Puts: $ICLN Sep 21 P $REI Dec 3 P $UBER Nov 27.5 P $FCX Sep 25 P $BBBY Jan 7 P $HSBC Sep 29 P $RCL Sep 30 P

By Elizabeth Howcroft LONDON (Reuters) -The dollar rose on Friday but was still set for a weekly decline as traders looked for signs of U.S. inflation peaking. U.S. inflation figures on Wednesday and Thursday were lower than expected, boosting riskier assets such as equities and weakening the dollar, as markets interpreted the data as indicating the Fed could be less aggressive in rate hikes. But Fed officials made clear they would continue to tighten monetary policy. San Francisco Federal Reserve Bank President Mary Daly said on Thursday she was open to the possibility of another 75 basis point (bp) hike in September to fight too-high inflation. At 1047 GMT, the dollar index was up 0.4% on the day at 105.520, changing course after four days of losses that have put it on track for a weekly decline of 1%. The yen lost out to the dollar's strength, with the U.S. unit up 0.5% against the Japanese currency at 133.62. Traders were pricing in around a 36.5% chance of a 75 bps Fed rate hike in September and a 63.5% chance of 50 bps. "We think it will take far more evidence of slowing core inflation to temper Fed tightening," Paul Mackel, global head of FX research at HSBC, said in a note to clients. "Inflation is also a global problem not just a U.S. one, and so global growth and inflation dynamics will also drive the USD," Mackel said. "The likes of the ECB (European Central Bank) and the BoE (Bank of England) may still find it hard to match market pricing for rate hikes, creating downside pressures for EUR and GBP." Kit Juckes, head of FX strategy at Societe Generale (OTC:SCGLY), said dollar trading was likely to remain "choppy". “It’s not going to be going significantly weaker in a straight line because there’s still a danger than the market has to reprice terminal Fed funds higher, given there’s still plenty of inflation,” Juckes said. GDP CONTRACTION The British pound was down 0.8% at $1.212 versus the strong dollar. UK GDP contracted by less than feared in June, even though an extra public holiday had been expected to cause a big drag. The euro was down 0.3% at $1.0291. French inflation was up 6.8% year-on-year in July, while for Spain the figure was 10.8%, the highest since 1984, data showed. The euro has been weighed down by Europe's struggles with the war in Ukraine, the hunt for non-Russian energy sources, and a hit to the German economy from scant rainfall. Low water levels on the Rhine, Germany's commercial artery, have disrupted shipping and pushed freight costs up more than five-fold. Commerzbank (ETR:CBKG) said in a note to clients it had revised its euro-dollar forecast lower, as it expects a euro-area recession as a base scenario, having previously been a "risk scenario". Commerzbank expects the euro to fall to $0.98 in December and to not recover until later in 2023. Inflation in Sweden eased to 8% year-on-year in July, which ING said may lessen expectations for a massive Riksbank rate hike in September. "After a good run in July, we doubt the Swedish krona pushes on too much further against the euro," ING's Turner said. The New Zealand dollar was lifted by expectations of a Reserve Bank of New Zealand rate rise next week.

By Liangping Gao and Kevin Yao BEIJING (Reuters) -China's factory-gate inflation eased to a 17-month low in July, defying global cost pressures as slower domestic construction weighed on raw material demand, although consumer price gains hit a two-year high as pork supplies tightened. The producer price index (PPI) rose 4.2% year-on-year, the National Bureau of Statistics (NBS) said on Wednesday, after a 6.1% uptick in June and missing analyst forecasts for a 4.8% increase. China's producer price growth has slowed from a 26-year high hit in October last year, giving policymakers some leeway to stimulate the flagging economy even as central banks elsewhere scramble to hose down rampant inflation with aggressive interest rate hikes. While China's relatively benign inflation has largely been due to weak domestic demand, a moderation in global price pressures, such as falling oil prices, also contributed to July's slowdown. "Factory gate inflation will remain on a downward trajectory throughout the rest of the year amid a further drop in commodity prices, easing supply bottlenecks and a higher base for comparison," Zichun Huang, China Economist at Capital Economics, said in a research note. In a sign of the slowing momentum, PPI fell 1.3% month-on-month, its first monthly decline since January, with the biggest falls in the price of metals and petrochemicals. In annual terms, coal mining and washing industry prices rose 20.7%, slowing 10.7 percentage points from June, while the oil and gas extraction industry jumped 43.9%, down 10.5 percentage points, according to a separate statement from NBS. Input prices slumped in July, China's official purchasing managers' index showed last week, due to a decline in energy and raw material costs and pointing to an eventual fall in producer prices. The world's second-biggest economy has slowed considerably and narrowly escaped a contraction in the June quarter, weighed by strict COVID-19 controls, a distressed property market and cautious consumer sentiment. The consumer price index (CPI) increased 2.7% from a year earlier, the fastest pace since July 2020 but missing forecasts for a 2.9% gain. The main driver of consumer prices is food inflation, which rose 6.3% year-on-year, speeding up from a 2.9% uptick in June. Driving the broader food surge were pork prices, which shot up 20.2% year-on-year, reversing a 6.0% decline in June as production slowed. However, core CPI, which excludes volatile energy and food prices and is a better gauge of underlying inflation, remained soft, rising just 0.8%, slower than the 1.0% rise in June. CONSTRAINED DOVES While the People's Bank of China (PBOC) is expected to keep monetary settings loose amid sluggish growth, there are limits on how much the bank can ease policy due to worries about capital outflows, as the U.S. Federal Reserve raises interest rates aggressively. The PBOC will therefore likely rely on more targeted easing to support the recovery, even as consumer inflation tests China's 3% tolerance threshold. That means the prospect of a near-term across-the-board interest rate cut is low, given existing global inflationary pressures and interest rate hikes in other major economies, said Bruce Pang, a chief economist at Jones Lang Lasalle (NYSE:JLL). "In all, CPI inflation remains below the PBOC's target of around 3%, providing it the policy space to remain accommodative," Erin Xin, economist at HSBC, said in a note. "With continued uncertainty from COVID-19 clusters as well as weak sentiment in the property market, there is still a need for the PBOC to stay accommodative."