HSBC not in talks with UBS: source

Europe's biggest bank HSBC Holdings is not in talks with Swiss rival UBS AG about a deal, a person familiar with the situation said.
UBS shares jumped on Thursday as talk reemerged that HSBC was casting an eye on the troubled Swiss bank. There has been frequent talk that HSBC would be interested in UBS, which is one of the top names in wealth management but has lost billions of dollars from its exposure to U.S. subprime housing related assets.
HSBC declined to comment.