Equity sentiment turned bullish in the pm, leads by HS.
HONG KONG, May 6 (Reuters) - HSBC Holdings shrugged off concern about U.S. bank stress tests to rise 3.9 percent on Wednesday after a brokerage house upgraded the stock and another UK bank reported stellar first quarter performance.
JPMorgan raised the stock to a neutral from its earlier underweight rating, crediting its stronger capital position and relatively inexpensive valuation.
Fellow UK bank Standard Chartered jumped 5.8 percent after it weathered the financial crisis to report record first-quarter profits, reaping the benefits of a focus on Asia and a resilient loan book. -Reuters
3 years ago
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