Broker tips: Barclays, Rio Tinto, InterContinental Hotels
10th Feb 2012 11:32
While Nomura notes that the Barclays full-year figures came in below expectations, owing to a shortfall in revenue, it maintains its buy rating and 268p target price for the UK lender. Nomura says that Barclays still represents a group with limited exposure to legacy risk positions and requires lit
Read moreBroker snap: Barclays numbers miss forecasts, but Nomura still says buy
10th Feb 2012 10:42
While Nomura notes that the Barclays full-year figures came in below expectations, owing to a shortfall in revenue, it maintains its buy rating and 268p target price for the UK lender. Adjusted pre-tax profit was £5.59bn, below consensus estimates of £5.8bn, while adjusted revenue missed forecasts
Read moreFriday broker round-up -UPDATE
10th Feb 2012 10:27
Ferrexpo: Rennaisance downgrades to hold. ICAP: Goldman Sachs downgrades to neutral from buy. Schroders: Goldman Sachs upgrades to buy from neutral. Next: Deutsche Bank upgrades to buy from hold. National Grid: JP Morgan downgrades to neutral from outperform. Barclays: Nomura maintains buy
Read moreLondon open: Footsie down after Eurogroup, but Barclays rises
10th Feb 2012 08:34
- Barclays rises after cutting bonuses, but profits fall. - Eurogroup fails to approve Greek package. - BCC welcomes BoE's QE boost. UK stocks opened cautiously with Eurozone finance ministers last night failing to approve the latest round of Greek aid. Yesterday afternoon, Greek Prime Minister Lu
Read moreLondon pre-open: Greek deal worries spark lower start to the day
10th Feb 2012 07:29
Converns over possible shortfalls in the Greek bailout deal, unveiled yesterday, have prompted City sources to predict that the market will open as much as 27 points lower that its close of 5,895 on Thursday. Profit before tax at UK lender Barclays fell 3% and short of expectations in 2011, while
Read moreBarclays cuts BarCap bonuses as group income drops 8% - UPDATE
10th Feb 2012 07:03
UK lender Barclays slashed its Barclays Capital (BarCap) bonus pool in 2011, after the investment banking unit helped push down full-year group income by 8%. Total income excluding an own credit gain of £2,708m (£391m in 2010) and gains on debt buy-backs of £1,130m (nil in 2010), fell 8% from £31,
Read moreFriday preview: BarCap and bonuses in focus (as usual) at Barclays
9th Feb 2012 17:24
The waiving of executive bonuses has suddenly become fashionable but no one is holding their breath for Bob Diamond, Chief Executive Officer of Barclays, to announce he is forgoing his bonus when the bank announces its fourth quarter results on Friday. In terms of the boss's full-year remuneration,
Read more2012 to be a tough year for UK, but Citi still overweight on banks
8th Feb 2012 16:29
In spite of what Citi believes will be another tough year for the UK economy, the US investment bank has reiterated its overweight position on UK banks. 2012 will be another difficult year, the broker says, with "continued emphasis on balance sheet repair after the surge in private and public debt
Read moreLondon midday: Stocks up as investors await news from Greece
8th Feb 2012 11:46
- Reckitt, miners and banks provide a lift on the FTSE 100. - Big movers on the FTSE 250 drag index into the red. - Markets await news from Greek meetings. Stocks pared gains by midday but were still trading in positive territory as investors awaited developments from Greece with leaders still grap
Read moreLondon open: Stocks rise with Greece in focus
8th Feb 2012 08:42
- Greek leaders scheduled to discuss draft deal. - Reckitt rises strongly after beating full-year targets. - Miners, financials provide a lift. Stocks opened higher on Wednesday following two days in the red, with banks and resource stocks providing a lift. Worth noting, the FTSE All-World equity i
Read moreLondon close: Losses pared ahead of Greek meeting
7th Feb 2012 16:35
-Greek talks enter critical stage. -Shareholders raise questions over terms of Glencore/Xstrata merger. -Defensives in demand as investors flee from risk. Losses were trimmed by the end of trade on Tuesday with reports pointing to progress being made in Greece. Government leaders and international
Read moreTuesday broker round-up - UPDATE
7th Feb 2012 10:14
Shire: Goldman Sachs reiterates 'conviction buy.' Misys: Berenberg Bank downgrades to hold from buy. BP: Nomura maintains neutral rating and 500p target. Cairn: UBS ups target from 291p to 370p, neutral rating kept; Credit Suisse ups target from 357p to 369p, neutral rating kept. Rio Tinto: Cred
Read moreMonday broker round-up - UPDATE
6th Feb 2012 09:12
Supergroup: Oriel Securities upgrades to buy from hold. Glencore: Jefferies ups target from 525p to 575p, confirms buy rating; Credit Suisse maintains outperform rating and 550p target. Royal Dutch Shell: Credit Suisse downgrades from outperform to neutral, cuts target from 2,750p to 2,600p. Xst
Read moreMonday newspaper round-up: Greece, Bank lending, FTT
6th Feb 2012 07:05
The Greek prime minister has failed to secure a bondholder agreement despite appealing for help from the bosses of the International Monetary Fund (IMF) and the European Central Bank (ECB) to help break the dangerous deadlock. Sources close to the private creditors told The Daily Telegraph that an a
Read moreLondon close: Footsie breaks 5,900 as US jobs data excites
3rd Feb 2012 16:58
The much-anticipated January employment report from the US Labor Department didn't disappoint, with a better-than-expected increase in non-farm payrolls sending the FTSE 100 vertical in afternoon trading to break through the 5,900 level. The world's largest economy created 243,000 new jobs last mon
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