HSBC shares soar in London, HK on report it may spin off UK consumer bank

London

HSBC Holdings plc's shares jumped the most in more than a year in London after a newspaper report saying the lender may spin off its UK consumer bank as the company pledged to review its domicile.

Europe's largest lender surged as much as 4.6 per cent, the most since January 2014, and traded 2.7 per cent up at 646.80 pence at 10:45am in London on Monday, compared with a 0.3 per cent drop in the FTSE 100 Index. In Hong Kong the stock posted the biggest intraday gain since December 2011.