On the early morning news, there was an announcement about the massive losses by HSBC Bank, It was never mentioned again all day on the news bulletins. The Sub prime was the cause of the loses.
Does anyone know why there was no more news during the day?
Not to mention the Lisbon treaty. HSBC shares closed up yesterday, based on the fact that the losses were less then expected and the bank were in profit for q1 of this year. HSBC shares have remained remarkably stable in and around the £8-£9 pound mark during the credit crunch,, compare that with RBoS whose shares have nearly halved in price over the same period