Tuesday broker round-up - UPDATE
3rd Jul 2012 08:11
Anite: Jefferies reiterates buy rating and 155p target; Investec puts target under review, buy rating kept. Avocet Mining: Nomura slashes target from 220p to 120p, neutral rating kept. Barclays: Investec maintains buy rating and 240p target. BG Group: Deutsche Bank reduces target from 1,800p to 1
Read moreBob Diamond resigns as Barclays CEO
3rd Jul 2012 07:32
Just one day after the Chairman of Barclays resigned over last week's Libor scandal, Chief Executive Officer (CEO) Bob Diamond has called it quits, bowing in to intense pressure from angry politicians over the last few days. The resignation will have immediate effect, the bank said on Tuesday morni
Read moreLondon close: Stocks surge despite US data
2nd Jul 2012 16:44
- Markets eye BoE and ECB policy decisions - US ISM data disappoints - Chinese, UK PMIs beat expectations The FTSE 100 finished near its best levels of the day on Monday as investors shrugged off disappointing US economic data and looked ahead to upcoming policy decisions in Europe and the UK with
Read moreGovernment to launch inquiry into Libor scandal
2nd Jul 2012 16:21
Chancellor of the Exchequer George Osborne said that a review into the way that interbank lending rates are determined is to take place, following last week's revelation that Barclays had been manipulating Libor for its own benefit. It was revealed on Wednesday that Barclays is to pay a £290m fine
Read moreFTSE 100 movers: Aviva rises on restructuring
2nd Jul 2012 16:01
Shares in Aviva leapt on Monday following reports which emerged over the weekend which are saying the insurance giant is set to sell or wind down between 10 and 15 of its 58 businesses. Barclays, the bank which last week was given a £290m fine for manipulating interbank lending rates, was another
Read moreBroker tips: Barclays, Insurers, Capco
2nd Jul 2012 12:18
Investec has reiterated its 'buy' rating and 240p target price for UK lender Barclays, saying that investors should take full advantage of the stock's recent underperformance. Analyst Ian Gordon from Investec said: "As things stand it is unclear whether Barclays 'successfully' manipulated LIBOR rat
Read moreLondon midday: Footsie advances as Barclays rebounds
2nd Jul 2012 11:41
- Better-than-expected manufacturing data from Asia - Eurozone jobless rate at all-time high - UK manufacturing PMI beats forecasts London's blue-chip index held on to gains on Monday morning with Barclays leading the risers as it continues to rebound after last week's sharp falls. Economic data f
Read moreBroker snap: Back Bob at Barclays, says Invesctec
2nd Jul 2012 10:15
Investec has reiterated its 'buy' rating and 240p target price for UK lender Barclays, saying that investors should take full advantage of the stock's recent underperformance. The bank is to pay a £290m fine to UK and US regulators after it was found attempting to control submissions for the London
Read moreMonday broker round-up
2nd Jul 2012 09:28
Amlin: Jefferies keeps hold rating and 350p target. Avocet Mining: Numis downgrades to hold, target slashed from 230p to 130p; Westhouse Securities downgrades to neutral, target cut from 262p to 102p; JP Morgan Cazenove downgrades to neutral, target cut from 240p to 100p. Barclays: Investec mainta
Read moreRBS dismisses 10 traders, PA reports
2nd Jul 2012 09:07
Royal Bank of Scotland has dismissed 10 traders in connection with the alleged manipulation of Libor rates, the Press Association (PA) reports, citing unidentified sources. It is not known when the traders were let go, the news agency said. RBS has not commented, PA reported. As of 08:57 shares of
Read moreLondon open: Asian data lifts stocks early on
2nd Jul 2012 08:30
- Chinese, Japanese data comes in better than expected - RBS falls on Libor issues - Barclays Chairman resigns London's blue chips edged higher on Monday morning after manufacturing data in China and Japan boosted sentiment. China's purchasing managers' index (PMI) fell from 50.4 to 50.2 last mont
Read moreLondon pre-open: FTSE to track Asian stocks higher
2nd Jul 2012 07:30
City sources predict the FTSE 100 will open up six points from Friday's close of 5,571, tracking Asian stocks higher following a round of positive data in both China and Japan. Also boosting sentiment is the progress made at the EU summit held at the end of last week, at which a number of significan
Read moreBarclays Chairman quits following Libor scandal
2nd Jul 2012 07:04
Marcus Agius, the Chairman of UK banking group Barclays announced his resignation at the weekend, following the revelation last week that the bank had been found guilty of manipulating interbank lending rates. The bank is to pay a £290m fine to UK and US regulators after it was found attempting to
Read moreSunday newspaper round-up: Glencore, Referendum, RBS
1st Jul 2012 12:39
David Cameron has signalled his willingness to hold a referendum on Britain's membership of the European Union in an abrupt change of tone towards Brussels. The Prime Minister had repeatedly rebuffed calls from Conservative Eurosceptics who want a legal commitment to holding a referendum. Two days a
Read moreLondon close: Global stocks surge after EU agreements
29th Jun 2012 16:30
- Major breakthrough at EU summit - Equity markets rocket across the globe - Another banking scandal hits Barclays London blue chips rallied on Friday on the back of developments at the EU summit overnight, as analysts hailed the agreements as a major breakthrough. The agreements include: the Euro
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