HSBC Plc (HSBC) surged to a near four-year and led bank stocks around the region to solid gains in early European trading as investors repriced growth and profit expectations for the world’s biggest lenders.
The advanced followed much better-than-expected dividend and share buyback plans unveiled by some of the biggest U.S. banks, including Citigroup (C) , Bank of America (BAC) and Morgan Stanley (MS) late Wednesday after Federal Reserve stress tests opened the door for bigger shareholder returns in the coming quarters.
