Closing summary
Time to recap…
France’s stock market has become the least favourite in Europe, according to a poll of fund managers by Bank of America.
Goldman Sachs has warned that a victory for Marine Le Pen’s party in France’s elections would trigger a surge in the national debt.
HSBC’s Swiss private bank failed to conduct proper checks on $300m worth of funds sent between Lebanon and Switzerland during a period of 13 years, Switzerland’s banking regulator has said.
The board of Hargreaves Lansdown is willing to back a takeover offer from a private equity consortium that would value the UK’s largest investment site at £5.4bn.
US retail sales barely rose in May, suggesting that economic activity remained lackluster.
Updated
HSBC has said the money laundering breaches raised by Swiss regulator FINMA today (see here) were “historic”.
The bank added:
“HSBC takes its anti-money laundering obligations very seriously including complying with all laws and regulations in every market we operate in.”
HSBC is planning to appeal the decision and so would not be commenting further.
