Jan 27 (Reuters) - Shares in HSBC rose as much as 3% to a new record high on Tuesday, briefly lifting the bank's market value above $300 billion and putting it neck-and-neck with AstraZeneca for the
HSBC Achieves Milestone with Market Value Surpassing $300 Billion
HSBC's Market Performance
Jan 27 (Reuters) - Shares in HSBC rose as much as 3% to a new record high on Tuesday, briefly lifting the bank's market value above $300 billion and putting it neck-and-neck with AstraZeneca for the top spot in London's FTSE 100 index.
Stock Price Surge
By 1050 GMT, HSBC shares rose 2.8% to 12.77 pounds, bringing gains so far this year to almost 9% and making it Tuesday's top gainer on the FTSE, which was up around 0.6%.
Profit Target Expectations
HSBC, NatWest and other major British banks are set to follow their European counterparts in raising profit targets when they report earnings in the coming weeks, people close to the matter told Reuters.
Comparative Index Performance
The FTSE 350 banking index has risen 6% this year, outpacing euro zone peers, which are up 4.2%.
(Reporting by Danilo Masoni, editing by Alun John)
