News Column

MoU, Restated Segmental Financials, Technical Updates, and Key Themes - Analyst Notes on HSBC, Lloyds, Daejan, Personal Assets Trust and Rathbone Brothers

July 7, 2014



LONDON, July 8, 2014 /PRNewswire/ --


Today, Earnings Review released its analysts' notes regarding HSBC Holdings plc (LON: HSBA), Lloyds Banking Group PLC (LON: LLOY), Daejan Holdings PLC (LON: DJAN), Personal Assets Trust PLC (LON: PNL) and Rathbone Brothers plc (LON: RAT). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://earnings-review.com/4547-100free.

HSBC Holdings plc Analyst Notes On June 18, 2014, HSBC Holdings plc (HSBC) announced that it has signed a Memorandum of Understanding with UK Export Finance and a leading Chinese company to work towards finding a workable structure for the purposes of funding future capital equipment financing in Renminbi (RMB). The move enables UKEF to provide medium and long-term guarantees to support RMB-denominated transactions in any sector. Douglas Flint, Chairman, HSBC, said, "HSBC is a leader in the renminbi market and export finance, and is committed to working with our clients to support their needs as the currency internationalizes. The bank is pleased to be able to work with UKEF and our Chinese client in the development of this new financing tool, and we will work together to make this a successful project." The full analyst notes on HSBC are available to download free of charge at:

http://earnings-review.com/4547-HSBA-08Jul2014.pdf

Lloyds Banking Group PLC Analyst Notes On July 3, 2014, Lloyds Banking Group PLC (Lloyds) reported the restated segmental profit and loss and key balance sheet data for 2013 to reflect the reorganization of the Company's operating structure done at the beginning of the year. However, the restatements had no effect on the Company's underlying profit and statutory results. In the Retail segment, Wealth business and Retail Business Banking has been included, which were previously part of Consumer Finance and Commercial Banking, respectively. Further, the consumer credit card business has been moved out of the Retail segment and is now a part of Consumer Finance and TSB has also been moved out and will be reported as a separate segment. In addition, the Commercial Banking corporate credit card business has been moved from the Commercial Banking to the Consumer Finance segment. The full analyst notes on Lloyds are available to download free of charge at:

http://earnings-review.com/4547-LLOY-08Jul2014.pdf

Daejan Holdings PLC Analyst Notes On July 3, 2014, the stock of Daejan Holdings PLC (Daejan) gained 1.74% to close at 4,865.00 pence. The Company's stock opened at 4,814.00 pence, and fluctuated within the range of 4,810.80 pence - 4,869.00 pence during the day. The Company's stock has lost 1.36% over the past month of trading while the FTSE 100 witnessed a small increase of 0.42% over the same period. The full analyst notes on Daejan are available to download free of charge at:

http://earnings-review.com/4547-DJAN-08Jul2014.pdf

Personal Assets Trust PLC Analyst Notes On June 4, 2014, Personal Assets Trust PLC (Personal Assets Trust) reported the unaudited cum-income net asset value (NAV) of the Company as 33,671.48 pence per share as at the close of business on July 3, 2014. The Company stated that NAV calculation is in accordance with stated policies and by following the applicable accounting standards and AIC recommendations. The full analyst notes on Personal Assets Trust are available to download free of charge at:

http://earnings-review.com/4547-PNL-08Jul2014.pdf

Rathbone Brothers plc Analyst Notes On July 3, 2014, Rathbone Brothers plc (Rathbone Brothers) announced five key themes for Q3 2014 discussed at the Company's Strategic Asset Allocation Committee. The themes are: Equities: Markets are likely to reward high-quality growth businesses; Bonds: Evaporating liquidity and tight spreads may cause problems for investors; Disruptive technologies: The digital economy is creating investment opportunities; Currency wars: China is on the verge of devaluing the renminbi to support growth; and The curse of deflation: Has economic stagnation and ECB inaction condemned Europe? The Company stated that it produces a market review based on the key themes each quarter. The full analyst notes on Rathbone Brothers are available to download free of charge at:

http://earnings-review.com/4547-RAT-08Jul2014.pdf

=============== EDITOR'S NOTES: ===============

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