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HSBC Drops, UniCredit Gains, AB InBev Rises
Description
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- HSBC shares declined as much as 5.6% in London trading after the lender missed estimates in the first quarter, weighed by higher costs and impairments. The bank booked an unexpected UK fraud-related charge and recorded a $300 million increase in allowance tied to a deteriorating global economic outlook following the onset of hostilities in the Middle East.
- UniCredit shares advanced 3%, the best performing stock on the Stoxx 600 Banks Index, after the Italian lender reported a record quarter with strong revenues. KBW analysts expect earnings to be well received.
- Shares in AB InBev gained as much as 6.8% in early trading, adding to a more than 14% rise over the past 12 months.
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