Stocks HSBC Holdings PLC


  • When--Or If--Housing Ever Hits Bottom Floor Friday, 9 Feb 2007 | 1:51 PM ET

    This week HSBC Holdings admitted that it would be spending more money than originally anticipated to cover subprime loan defaults -- $1.76 billion more than analysts predicted. Now there’s concern over the mortgage-backed securities that go along with these riskier credit advances, and even more concern over the housing market in general.

  • Stocks finished lower as new worries about the mortgage lending market depressed financial shares and a late surge in oil prices drove energy stocks higher. "Crude rallied 4% in 10 minutes and it just turned energy stocks on a dime," said Michael Driscoll, Senior Managing Director in Equity Trading at Bear Stearns.

  • Europe's biggest bank, HSBC Holdings, said its charge for bad debts would be more than $10.5 billion for 2006, some 20% above analysts' average forecasts, due to problems in its U.S. mortgage book.

  • Shares of sub-prime mortgage lenders fall as HSBC warns that bad debts from lower-quality loans will hurt its results.

  • Eight Foreign Banks Apply for Registration in China Sunday, 10 Dec 2006 | 10:37 PM ET

    China's banking regulator has received eight applications from foreign banks for local registration, which it would begin processing Monday, a first step in granting national treatment.

  • Oracle Ups Offer for India's i-flex solutions Friday, 8 Dec 2006 | 12:19 AM ET

    Oracle boosted its offer for India's i-flex solutions by 42%, with the aim to buy an additional 35% of the banking software provider for $1.3 billion.

  • Stocks closed higher following mostly positive news about the U.S. economy and gains from several major blue-chip companies.