In a sign of rising anxiety among Greeks, depositors withdrew EUR700 million (about $891 million) from local banks Monday. Chancellor Angela Merkel tried to soothe investor fears by saying in an interview on CNBC that Germany was determined to keep Greece in the euro zone, though reports suggesting that the ECB could stop operations with some Greek banks compounded the confusion.
HSBC doubled its target for generating additional revenue from greater cooperation between its four businesses to $2 billion.
The lender, based in London, is also on schedule to meet the top end of its target for eliminating as much as $3.5 billion of costs by the end of next year, according to a filing to the Hong Kong stock exchange today.
Asian stocks rose from a four-month low and gold gained after Federal Reserve policy makers said more monetary easing may be needed and economic growth in Japan and Singapore exceeded estimates.
Oil rose from the lowest settlement in six months in New York after economic data in Japan beat estimates and technical indicators signalled declines in crude prices may be exaggerated.
Futures advanced as much as 0.7 %, climbing for the first time in five days. Prices, down 11 % this month on concern Europe’s debt crisis will curb fuel demand, rebounded after falling to technical support levels.