Deals
HSBC Jumps Most in a Year After Retail Spinoff Plan Report
The headquarters of HSBC Holdings Plc in the Canary Wharf business district in London
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
HSBC Holdings Plc’s shares jumped the most in more than a year in London after a newspaper report saying the lender may spin off its U.K. consumer bank as the company pledged to review its domicile.
Europe’s largest lender surged as much as 4.6 percent, the most since January 2014, and traded 2.7 percent up at 646.80 pence at 10:45 a.m. in London, compared with a 0.3 percent drop in the FTSE 100 Index. In Hong Kong the stock posted the biggest intraday gain since December 2011.