HSBC Holdings PLC
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A shareholder coup at newly merged commodities group Glencore Xstrata ousted chairman Sir John Bond on Thursday, along with all other former directors from Xstrata.
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JERUSALEM, Oct 2- Electric car venture Better Place said it had replaced chief executive officer Shai Agassi with the CEO of its Australia unit, five years after Agassi founded the company. Agassi set up Better Place with the aim of using new technology to make electric cars more affordable and more convenient than gasoline-powered cars.
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HSBC equity strategists expect European equities to rise further, boosted by central banks' quantitative easing programmes and attractive valuations, and they have an "overweight" position on Spanish equities, despite concerns over Spain's sovereign debt crisis. Many analysts expect Spain to seek a full sovereign bailout package in the coming weeks.
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LONDON, Oct 2- The Republic of Poland has set final terms on its EUR1.75bn 12 year bond due July 9 2024 via Commerzbank, HSBC, ING and SG CIB. Order books for the A2/A-/A- rated deal closed at EUR3.5bn before reconciliation. The bonds will have a spread of 143 bp over mid-swaps once priced, which will occur shortly, a manager said.
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DUBAI, Oct 2- Qatar Islamic Bank, the Gulf state's largest sharia-compliant lender, is planning to issue a five-year benchmark-sized Islamic bond, or sukuk, this week, arranging banks said on Tuesday. Benchmark-sized is understood to be at least $500 million. HSBC, Standard Chartered, Deutsche Bank.
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LONDON, Oct 2- The Republic of Poland, rated A2/A-/A-, will price a new 12- year euro benchmark well inside where it first started to sound out investors after demand reached over EUR3.3bn.
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LONDON, Oct 2- The Republic of Poland has opened books on its new 12- year Eurobond with official guidance set at mid-swaps plus 145 bp area, said an official managing the deal. Commerzbank, HSBC, ING and SG CIB received indications of interest totalling EUR2.5bn when sounding out investors earlier on Tuesday morning at swaps plus 150 bp area.
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ISTANBUL, Oct 2- The Turkish lira was slightly weaker and bond yields were steady on Tuesday as investors geared up for data expected to show local inflation spiked last month due to higher global energy prices. By 0753 GMT, the lira stood at 1.7925 against the dollar, slightly weaker than 1.7911 late on Monday. The yield on Turkey's two-year benchmark bond.
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*Case builds for rate cut at Bank of Korea Oct. 11 meeting. SEOUL, Oct 2- South Korea's central bank promised on Tuesday to direct policy at shoring up the sputtering economy, as a survey showed the manufacturing sector shrank by the most in nearly four years, adding to expectations it will cut interest rates next week.
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The A2/A-/A- rated issuer mandated Commerzbank, HSBC, ING and SG CIB for the transaction that is expected to be priced today.
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*HSBC cuts Inmarsat to neutral from overweight; raises price target to 650 p from 640 p. For a summary of rating actions and price target changes on European companies:. Reuters Station users, click. 1580.
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*HSBC cuts RusHydro target price to 1.07 roubles from 1.78 roubles; rating overweight. For a summary of rating actions and price target changes on European companies:. Reuters Station users, click. 1580.
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By Simon Jessop and Alistair Smout. "The real key to create confidence is positive earnings surprises, positive economic data surprises," Philip Isherwood, European strategist at Absolute Strategy Research, who is nevertheless' overweight' on the region's stocks.
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LONDON, Oct 2- Abu Dhabi National Energy Co is looking to refinance up to $3 billion of syndicated loans and banks are due to submit proposals this week, two bankers close to the deal said on Tuesday. But TAQA may have to pay more than on its original $3 billion loan signed in December 2010 with coordinator Bank of Tokyo-Mitsubishi UFJ.
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*Case builds for Bank of Korea rate cut at Oct. 11 meeting. SEOUL, Oct 2- South Korea's central bank said on Tuesday it was now directing policy at lifting economic growth, as a survey showed the manufacturing sector shrank by the most in nearly four years, adding to the case for an interest rate cut next week.
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*Case builds for Bank of Korea rate cut at Oct. 11 meeting. SEOUL, Oct 2- South Korea's central bank said on Tuesday it was now directing policy at lifting economic growth, as a survey showed the manufacturing sector shrank by the most in nearly four years, adding to the case for an interest rate cut next week.
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SEOUL, Oct 2- South Korea's central bank said on Tuesday it was now directing monetary policy at boosting economic growth, a shift in emphasis away from the price stability stressed in its statement last month.
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*Case builds for Bank of Korea rate cut at Oct. 11 meeting. An HSBC/ Markit survey showed the purchasing managers' index of South Korea's manufacturing sector fell to a seasonally adjusted 45.71 in September from 47.50 in August, touching its lowest since February 2009.
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SEOUL, Oct 2- South Korea's manufacturing sector shrank in September for the fourth consecutive month and the most rapidly since early 2009, a survey showed on Tuesday, suggesting the export-reliant economy probably slowed further in the third quarter.
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Oct 10- Sabine Pass LNG LP. ,on Monday sold $420 million of senior secured notes, said IFR, a Thomson Reuters service. Credit Suisse and HSBC were the joint bookrunning managers for the sale.
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Irene Tse, who headed the North America operations of the Chief Investment Office, told the firm she is resigning to focus on "entrepreneurial ventures," according to a memo on Monday from Chief Operating Officer Matt Zames, a copy of which was obtained by Reuters.