HSBC Holdings PLC (0005.HK)
(The following statement was released by the rating agency) HONG KONG/LONDON, February 22 (Fitch) HSBC Holdings plc's large reported net loss of USD4bn in the last quarter of 2016 is a reminder of the magnitude and challenges of its transformation, which management initiated in 2011 and is on track to complete in 2017, Fitch Ratings says. The bank is likely to maintain steady revenue and low volatility in underlying earnings due to its diversified businesses and good risk control. However,
* HSBC announces that, as outlined in its announcement on 21 february 2017, it will commence a share buy-back of HSBC's ordinary shares of $0.50 each for up to a maximum consideration of $1,000,000,000
BRIEF-HSBC enters into agreement with Credit Suisse Securities to enable purchase of ordinary shares
* Entered into agreement with Credit Suisse Securities (Europe) to enable purchase of ordinary shares by Credit Suisse, acting as principal
BRIEF-Saudi Aramco selects JPMorgan, HSBC, Morgan Stanley as lead underwriters for IPO - CNBC, citing DJ
* Saudi Aramco selects JPMorgan, HSBC, and Morgan Stanley as lead underwriters for its IPO - CNBC, citing Dow Jones
* HSBC slumps after plunge in pre-tax profits (Adds details, closing prices)
* FTSE 350 bank index scores worst day since Brexit (Adds closing prices)
HONG KONG/LONDON HSBC's full-year profit slumped 62 percent and fell far short of forecasts on Tuesday as the bank took hefty writedowns from restructuring and flagged near-term brakes on revenue growth. | Video
* HSBC shares fall more than 7 percent (Adds outlook on U.S. rate rises, updates shares)
LONDON, Feb 21 Figures showing the fastest pace of growth in euro zone business activity for six years propelled European stocks to a 14-month high on Tuesday, reversing an earlier fall after the continent's biggest bank HSBC reported a surprise slump in profits.
LONDON, Feb 21 British shares lost 0.2 percent on Tuesday, weighed by banking stocks as a week of full-year earnings releases for major listed banks began with HSBC's profit slump.