The stock market can be a roller coaster, especially for new investors. While some stocks may be ready for a breather, others hold strong potential for growth. This article highlights three stocks with promising upside: HSBC Holdings Inc. (HSBC), Uber Technologies Inc. (UBER), and Hecla Mining (HL).
HSBC Holdings plc has sold its private banking activities in Germany to BNP Paribas, marking a strategic move for both financial institutions. The deal, which aims to close in the second half of 2025, will see BNP Paribas leverage its integrated business model to cater to German entrepreneurs and families, strengthening its position in the German wealth management market.
HSBC is making a significant push into the U.K. wealth management market, aiming to double its assets under management to £100 billion in the next five years. To achieve this goal, the bank is hiring hundreds of relationship managers to cater to ultra-wealthy clients and is also streamlining its operations by cutting middle management positions. This move comes amidst a broader trend in the banking sector towards cost-cutting and efficiency.
HSBC Holdings is facing fresh scrutiny from UK regulators over its data collection practices. The Prudential Regulation Authority has ordered the bank to undergo a review of its data management systems, focusing on areas deemed crucial for risk management in investment banking and trading. This follows a previous warning from the regulator in 2020 concerning deficiencies in HSBC’s risk management practices. The review aims to assess how HSBC plans to address ongoing weaknesses in areas like model risk, risk data quality, traded risk, and credit risk.
HSBC’s new CEO, Georges Elhedery, is reportedly considering a major organizational overhaul, potentially including significant job cuts. The move aligns with HSBC’s ongoing focus on improving efficiency and cost control in a challenging economic environment. This follows a trend of cost-cutting measures in the banking sector, with Barclays and Standard Chartered already implementing similar strategies. While cost savings are a key objective, HSBC must carefully navigate the potential risks associated with reducing middle management, such as leadership gaps and decreased employee engagement.
Olympic gold medalist Abhinav Bindra motivated Indian athletes at a send-off event organized by the Athletics Federation of India (AFI) in collaboration with HSBC India. The event highlighted the importance of corporate support in sports development and expressed confidence in the athletes’ ability to perform well at the Paris Olympics.
A former HSBC employee, Nitika Kumari, has shared disturbing incidents of workplace toxicity, ethnic discrimination, and objectification at the company. Nitika’s post on LinkedIn has sparked outrage and raised concerns about the prevalence of such issues in corporate environments. Despite reporting these incidents to her managers and the HR team, Nitika claims that no meaningful action was taken, leading her to suffer severe mental health issues.
Yun Liu, an ASEAN economist at HSBC, provides insights into the outlook for U.S. interest rates and its potential effects on Southeast Asian currencies. The article explores the implications of interest rate changes on the region’s economic growth, inflation, and currency stability.
HSBC analysts anticipate a Swiss franc (CHF) rally and a potential rate cut by the Bank of England (BoE), leading to a sell recommendation for GBP/CHF. They believe CHF shorts appear vulnerable and the currency remains resilient. Despite elevated services inflation and wage growth in the UK, HSBC expects the BoE to ease monetary policy, with a possible rate cut in June. The analysts recommend selling GBP/CHF at 1.1350, a level the currency reached on Tuesday following comments from Monetary Policy Committee member Catherine Pill.
HSBC has initiated coverage of Auna (NYSE: AUNA), a Latin American healthcare provider, with a buy rating. The investment bank cited Auna’s profitable business model, compelling valuation, impressive secular growth, and short-term and organic growth opportunities. HSBC set its price target for the stock at $12.60.
