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Monday, April 6, 2009

HSBC Gets $17.7 Bn in Largest U.K. Rights Offer

HSBC Holdings Plc, Europe’s biggest bank, raised about $17.7 billion as investors bought 97 percent of the U.K.’s largest-ever rights offer.

HSBC sold the shares to existing investors for 254 pence each, 41 percent less than the close on April 3 in London. The bank said March 2 it would seek the money after its North American operation posted a 2007 pretax loss of $15.5 billion.
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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Tuesday, Jun 10
11:30 ILO Unemployment Rate (3M) 3 4.6% 4.6% 4.5%
11:30 Employment Change (3M) 3 89K 112K
11:30 Average Earnings Including Bonus (3Mo/Yr) 2 5.3% 5.5% 5.6% Revised from 5.5%
11:30 Claimant Count Rate 2 4.5% 4.4% Revised from 4.5%
11:30 Average Earnings Excluding Bonus (3Mo/Yr) 2 5.2% 5.4% 5.5% Revised from 5.6%
15:30 NFIB Business Optimism Index 1 95.9 95.8
18:25 Redbook Index (YoY) 1 4.9%
21:00 52-Week Bill Auction 1 3.93%
22:30 3-Year Note Auction 1 3.824%
Wednesday, Jun 11
02:00 API Weekly Crude Oil Stock 1 0.7M -3.3M
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