Hargreaves Lansdown Bulletin
Nicholas Hyett, Equity Analyst, Hargreaves Lansdown:
HSBC shares are up 4.7% this morning, as regulatory changes around the treatment of its investment in China Bank of Communications boosted capital reserves. That’s secured the dividend in the near term, although organic capital generation is still lower than we would like.
With miners on the up after the FBI confirmed that Hilary Clinton would not be subject to any criminal proceedings, one stock missing out is Fresnillo. The Mexican silver miner is down 1.6% after a double hit from a slumping silver price and a stronger Mexican Peso – increasing operating costs at its mines.
Tesco has not joined in the wider market rally, with the shares down 1% this morning. Over the weekend, Tesco Bank was forced to suspend online transactions after suspicious activity was seen in around 40,000 accounts, with around half losing money in the fraud attack.
NOTES TO EDITORS
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