Stock Movers HSBC Down, On The Beach Falls, Leonardo Gains
Mar 12, 2026
Louise Moon, Bloomberg Breaking News editor and market reporter, breaks down recent market moves. She explains banks' exposure to the Middle East and its impact on European lenders. She covers Leonardo’s bullish 2030 targets and rising shares. She reports On The Beach suspending guidance after a sharp drop in demand for holiday bookings.
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European Banks' Middle East Exposure Hits Stocks
- HSBC and Standard Chartered are the most exposed European banks to the Middle East risk driving market moves today.
- JPMorgan says Middle East represents 4% of HSBC's pre-tax profit and 12% for Standard Chartered, prompting heavy share declines.
Leonardo's Bullish 2030 Targets Drive Record Shares
- Leonardo hit a record high after setting bullish 2030 targets focused on higher-margin defence electronics and networked systems.
- Analysts flagged large order intake expectations and Jefferies sees implied 300bps margin expansion versus 2025.
On The Beach Suspends Guidance After Travel Slowdown
- On The Beach suspended full-year guidance after demand sharply slowed following the Middle East conflict, sending the stock down about 14%.
- The company cited significant weakness for bookings to Turkey, Greece, Cyprus and Egypt and paused guidance amid uncertainty.