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News Update: Greece Chooses Financial Advisers

Officials from the Greek government announced Thursday that HSBC (NYSE:HBC), Lazard Freres SAS and London-based Deutsche Bank have been chosen as advisers in Greece's financial restructuring, reports MarketWatch.Greece's finance ministry wrote in a note that the advisers will "explore and assess the Greek state's strategic options, to valuate its holdings in the banking sector, and to assess the consequences of such options, especially on the efficiency and stability of the financial system." SmarTrend currently has HSBC Holdings in a Downtrend. Since 2008, SmarTrend subscribers trading HSBC Holdings using our alerts outperformed the stock by 122%. We are monitoring these developments and will alert subscribers to any change in trend.

View Count: 0 Date: August 26, 2010

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