HSBC shares rise to multi-year high
HSBC The stock started the week strong and is currently trading at a 17-year high intraday.
After the stock market opened, the bank’s London-listed A shares rose to 8.286 pounds, the highest level since November 2, 2007.
It’s not the only bank hitting new highs this morning.
European markets flat
British FTSE 100 and german German DAX Index It was slightly higher on Monday morning after hitting a record high on Friday.
The FTSE rose 0.08%, Germany’s DAX rose 0.04% and France’s index rose 0.04%. CAC up 0.1%.
spanish wild goat Also slightly higher, but Italian FTSE The stock was down 0.36% as of 10:16 a.m. London time.
Pan-European Stoke 600 down 0.04%.
— Ganesh Rao
Judges Scientific says organic revenue fell 5.8%
scientific judgeThe conglomerate that owns several British scientific instrument makers reported an annual fall in revenue for 2024 in its latest trading report on Monday.
The company said organic revenue fell 5.8% in 2024 from the previous year.
The company, founded by CEO David Cicurel in 2002, now has a large following of retail investors after increasing its dividend payout ratio every year for the past 17 years.
“The operating leverage of the business means a small decline in organic revenue would have a material impact on profitability,” the company said in a stock market filing, which is expected to announce full-year results on March 19.
“Other headwinds have affected our business to varying degrees, including a significant reduction in orders from China, generally weak order volumes, and delays in orders and deliveries by some customers,” the company added.
Analysts at investment bank Jefferies downgraded the stock to “hold” ahead of the filing, saying they saw “clear near-term vulnerabilities due to a difficult trading backdrop.”
“Longer term, we continue to view Judges as one of the highest quality brands in our coverage – a unique operating model and strategy that positions it as an industry leader across a range of financial metrics, which will continue to grow as end markets recover. The leadership position should be sustained – and there is plenty of room for continued attractive M&A activity,” the Jefferies analysts added.
— Ganesh Rao
South Korea pledges record financial support for exporters as Trump returns to White House
Korean Treasury Commitment A record 360 trillion won ($247.74 billion) in financial support is being provided to exporters as Donald Trump is about to begin his second term as president.
The ministry also announced that it will increase exchange rate insurance support to 1.4 trillion won this year from 1.2 trillion won in 2024.
The statement added that semiconductors and rechargeable batteries are industries that will be more affected by potential new U.S. policies.
——Li Yingshan
China keeps benchmark lending rate unchanged in response to yuan depreciation
China has set a benchmark Loan interest rates remain unchanged On Monday, Beijing grappled with a weaker yuan while awaiting policy cues from the incoming administration of Donald Trump.
According to a statement from the People’s Bank of China, the People’s Bank of China maintained the one-year loan preferential interest rate at 3.1% and the five-year loan market quotation rate at 3.6%.
The 1-year LPR determines the interest rate on business and most home loans, while the 5-year LPR serves as a reference for mortgages.
Read full story here.
— Anne Bao
European Markets: Here are the opening calls
European markets are expected to open mixed on Monday.
British FTSE 100 German stocks are expected to open 12 points lower at 8,493 German DAX Index France rose 3 points to 20,897 CAC Up 6 points to 7,720 points, Italy FTSE MIB It rose 21 points to 36,351, according to IG data.
There are no major earnings or data releases on Monday.
— Holly Elliot
