4 Financial Stock Stories To Close the Trading Week

HSBC Holdings PLC (NYSE:HBC): Current price $53.50

Europe’s largest bank will shut its retail branch network and wealth management units in South Korea, leaving only its world banking and markets division that serves corporate clients open. The closures, which start Monday, are part of HSBC’s global plan to shutter or dispose of fifty-two businesses, implemented in May 2011. HSBC will request regulatory approval to close ten of its branches in South Korea.

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HBC

Royal Bank of Scotland Group PLC (NYSE:RBS): Current price $8.32

On Friday, Moody’s Investors Service placed the Royal Bank of Scotland on review for downgrade of its standalone bank financial strength rating, its A3 long-term debt and deposit ratings, and the bank’s subordinated debt and junior capital instruments. The company’s Prime-2  short-term ratings were affirmed. The long-term ratings of the holding company, Royal Bank of Scotland Group PLC, were also placed on review for downgrade.

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RBS

American Realty Capital Properties (NASDAQ:ARCP): Current price $14.22

American Realty Capital on Friday reaffirmed the availability of possible enhanced liquidity for its stockholders through its previously reported $250-million share buyback program. While the firm has not executed repurchases so far, it is now renewing its plan to make additional liquidity available to its stockholders by means of periodic repurchases via the share repurchase program. The program was previously OKed by the company’s board of directors.

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ARCP

Lloyds Banking Group PLC (NYSE:LYG): Current price $3.89

Lloyds’s Australian subsidiary, BOS International, is divesting a portfolio of property and corporate loans with a face value of roughly 750 million Australian dollars ($684 million), sources told The Wall Street Journal. The sources said indications of interest in the debt portfolio, which includes swaps, are expected on July 19, and that Goldman Sachs Group Inc. will oversee the process. The sale will represent the conclusion of a gradual winding down of the bank’s Australian and New Zealand property and corporate debt book, which it gained in 2009 following its acquisition of the U.K.’s HBOS for $22 billion.

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LYG

Investing Insights: Will Recent News Affect HSBC?

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