London close: Index closes at highest level since 2008
9th Jan 2013 16:33
UK markets closed significantly higher on Wednesday, up 45 points equal to 11.41bn pounds, with the index closing at its highest level since May 22nd 2008. The gains were led by banking stocks after UBS hiked its targets for the Lloyds, Barclays and RBS, saying 'the UK is over its experiment of co
Read moreBroker tips: Lloyds, RBS, African Barrick Gold
9th Jan 2013 14:59
"The UK is over its experiment of combining fiscal and monetary austerity," sentenced analysts at Swiss broker UBS this morning. So much so in fact that in their opinion the incoming Bank of England governor's openness to monetary policy innovation may not even need to be tested if, as they expe
Read moreFTSE 100 movers: Banks soar on UBS upgrade
9th Jan 2013 14:53
Banks were leading the risers on Wednesday after UBS hiked its targets for the Lloyds, Barclays and RBS, saying 'the UK is over its experiment of combining fiscal and monetary austerity'. The broker revised its price target on Lloyds to 60p (from 50p), for Barclays to 315p (from 255p) and RBS to 410
Read moreBroker snap: UBS hikes targets for Lloyds,Barclays and RBS
9th Jan 2013 13:24
"The UK is over its experiment of combining fiscal and monetary austerity," sentenced analysts at Swiss broker UBS this morning. So much so in fact that in their opinion the incoming Bank of England governor's openness to monetary policy innovation may not even need to be tested if, as they expe
Read moreLondon midday: Carney's innovations no longer needed, UBS says
9th Jan 2013 12:42
It is often the case that one year's underperformers in the stock market are the next year's best, but no so year-to-date. Thus, the main high street banks' shares are leading gains today after analysts at UBS pulled out their spread sheets this morning and raised their price targets for the main Hi
Read moreLondon midday: Corporate activity picks up, but technical resistance looms
8th Jan 2013 11:51
UK stocks are now registering slight gains - and recovering most of yesterday's scant losses - as investors opt to overlook the release of some weaker than expected economic indicators from the Eurozone. That ahead of the beginning of the formal earnings season, Stateside, later today, when alumin
Read moreLondon close: Markets shrug off decent showing by banks
7th Jan 2013 16:35
- Traders take profits after recent surge - European banks on Basel III developments - Investors looking ahead to central bank decisions After registering impressive gains last week, stocks across Europe pulled back on Monday with investor taking profits as fourth-quarter earnings season gets into
Read moreFTSE 100 movers: Barclays leads risers as National Grid falls
7th Jan 2013 15:34
Banking giant Barclays was the high riser of the day after regulators eased rules on cash buffers, giving lenders more time and greater flexibility to comply with Basel III liquid coverage ratio requirements. Sector peers Lloyds and HSBC were also on the up. "Less strict liquidity rules should red
Read moreLondon midday: Traders take profits after recent surge
7th Jan 2013 11:41
Strong gains in the banking sector weren't enough to lift the FTSE 100 into positive territory on Monday morning, as London's benchmark index pulled back from its near two-year high on Friday. "Stock markets in Europe have surrendered early morning slim gains as the temptation to book profits on ma
Read moreLondon open: Footsie pulls back despite strong showing by banks
7th Jan 2013 08:15
After hitting a near two-year high the previous trading session, profit-taking meant that the FTSE 100 opened slightly lower on Monday morning. This was despite relative strength in the banking sector on the back of some better-than-expected news on regulation. The FTSE 100 finished Friday at 6,090
Read moreLondon close: FTSE 100 cracks 6,000 after US budget deal
2nd Jan 2013 16:30
- Footsie surges 2.2 per cent - Global stock markets rally, helped by manufacturing figures - Miners benefit from increased risk appetite The FTSE 100 surged past the psychologically-important level of 6,000 on Wednesday as stock markets across the globe celebrated the last-minute deal by US politi
Read moreLondon midday: Markets welcome fiscal cliff deal with two per cent surge
2nd Jan 2013 11:40
- US leaders pass budget deal to avert fiscal cliff - Mining and banking stocks celebrate with decent performance - UK manufacturing ends 2012 on a high Mining stocks were registering impressive gains on Wednesday in the aftermath of the US fiscal cliff agreement, which could have plunged the world
Read moreBroker tips: Barclays, Aggreko, Retail stocks
2nd Jan 2013 10:42
Barclays was performing well on Wednesday morning after Investec hiked its target price from 260p to 285p and hailed the lender as its 'preferred UK domestic bank'. Despite an impressive 79% rally over the past five months, the broker said that the shares are still trading "only in line with loss-
Read moreBroker snap: Investec upbeat about Barclays but obstacles remain
2nd Jan 2013 10:41
Barclays was performing well on Wednesday morning after Investec hiked its target price from 260p to 285p and hailed the lender as its 'preferred UK domestic bank'. Despite an impressive 79% rally over the past five months, the broker said that the shares are still trading "only in line with loss-
Read moreLondon open: Fiscal cliff deal ignites risk appetite
2nd Jan 2013 08:21
The FTSE 100 surged on Wednesday morning as investors celebrated the news that the fiscal cliff deal Stateside, with mining and banking stocks benefitting from the increase in risk appetite. "It may have come at the last minute, but US lawmakers finally managed to find some common ground by voting
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