HSBC Holdings Plc, Europe’s largest bank, posted full-year profit that missed analyst estimates as a cost-cutting drive fell short of targets and revenue shrank. The stock slumped in Hong Kong and London.
Barclays Plc reported full-year profit that missed analyst estimates as litigation and compensation charges complicated Chief Executive Officer Antony Jenkins’s overhaul of Britain's second-biggest bank by assets.
The Canadian dollar strengthened from a 10-week low after manufacturing sales increased to the highest in more than a year and Federal Reserve Chairman-nominee Janet Yellen said yesterday she’ll press on with stimulus that has boosted global risk appetite.
Lloyds Banking Group Plc, the U.K.’s biggest mortgage lender, set aside 1.8 billion pounds ($3 billion) more to compensate clients wrongly sold insurance and signaled it won’t pay a dividend for 2013. The stock fell.
Best Buy Co.’s decline in holiday sales, which triggered the biggest drop in its stock in more than a decade yesterday, is raising doubts over Chief Executive Officer Hubert Joly’s turnaround strategy.
The Canadian dollar weakened to C$1.10 for the first time in more than four years amid speculation the U.S. Federal Reserve will slow its monetary stimulus as the Bank of Canada signals more may be on the way.