Broker snap: UBS downgrades Barclays to neutral
1st Nov 2011 11:05
After factoring in a target price upgrade, UBS has downgraded its rating for Barclays from buy to neutral, saying that the upside is now more modest. "Post Q3, we have modestly upgraded our full year estimates (+2%) but subsequent years are broadly unchanged. While we exclude the pension fund defic
Read moreUPDATE: Tuesday broker round-up
1st Nov 2011 09:33
Man Group: Credit Suisse reiterates outperform rating and 235p target. Barclays: UBS downgrades from buy to neutral, target raised from 208p to 215p. Barclays: Investec keeps buy rating and 330p target. Legal & General: Nomura keeps buy rating and 180p target. Legal & General: Investec keeps sel
Read moreLondon open: Greek referendum rattles Footsie
1st Nov 2011 09:12
The Footsie lost a further 2% on Tuesday morning on the news that Greece is to hold a referendum on the latest bailout announced last week. The decision by George Papandreou, the Greek Prime Minister, to hold a referendum on the details of the Greek bailout tortuously negotiated by Eurozone leaders
Read moreTuesday newspaper round-up: Greece referendum, UK banks, recession
1st Nov 2011 06:23
"Greece threw the Eurozone into fresh turmoil last night by announcing that it would allow voters the chance to reject the emergency bailout package agreed in Brussels last week. George Papandreou, the Greek Prime Minister, stunned European capitals by saying that he would hold a referendum on the d
Read moreLondon close: Miners plummet, Footsie drops 2.8%
31st Oct 2011 16:33
London's blue chips registered an average fall of 2.77% on Monday as a steep sell-off in the heavyweight mining sector dragged the Footsie down to 5,544, 158 points off Friday's close of 5,702. Just three stocks finished the day with gains. The steady decline continued following a dreary start on W
Read moreFTSE 100 Movers: Banks and miners drag index lower
31st Oct 2011 14:23
Shire was performing well after Credit Suisse reiterated its outperform recommendation and 2,350p target on the stock. Barclays remains in the red, despite a generally favourable reception to its third quarter figures, as banks dragged the index lower. Nomura has reiterated its buy call on banki
Read moreLondon midday: Miners tumble as Japan intervenes
31st Oct 2011 12:15
The miners dragged the Footsie over 1% lower by midday after Japan's intervention into the currency markets and Chinese demand worries spurred a fall in commodity prices. London's blue chip index remains firmly in the red at the 5,641 mark, down from Friday's close of 5,702. In economic news, the g
Read moreBroker tips: Barclays, Homeserve, Sage
31st Oct 2011 12:13
Nomura has reiterated its buy call on banking giant Barclays, after the firm's third quarter results came in ahead of expectations. The broker notes that Barclay's traditional banking operations drove the third quarter beat, and while Barclays Capital was weak, figures were in line with forecasts a
Read moreBroker snap: Nomura, Evolution reiterate buy ratings on Barclays
31st Oct 2011 12:12
Nomura has reiterated its buy call on banking giant Barclays, after the firm's third quarter results came in ahead of expectations. The broker notes that Barclay's traditional banking operations drove the third quarter beat, and while Barclays Capital was weak, figures were in line with forecasts a
Read moreUPDATE: Monday broker round-up
31st Oct 2011 10:17
Homeserve: Citi retains sell, cuts target to 400p from 430p. Virgin Media: Citi stays at buy, lowers target to $32 from $35.7. Homeserve: Credit Suisse downgrades from outperform to neutral, target cut from 570p to 485p. Removes from small and medium cap Focus list. JJB Sports: Panmure Gordon d
Read moreLondon open: Miners weigh down Footsie
31st Oct 2011 08:58
Banking giant Barclays is a rare bright spot in London after a better than expected third quarter update, as stocks head lower. Miners Vedanta Resources, BHP Billiton, Xstrata and Rio Tinto are the biggest fallers among the top-share index constituents, as metal prices head south. Barclays said it
Read moreBarclays reduces exposure to periphery debt by 31% -UPDATE
31st Oct 2011 07:29
Bob Diamond, the chief executive of Barclays, assured the market that the company has no intention of raising new equity capital as he unveiled a 5% year-on-year increase in underlying profits before tax. Adjusted profit before tax, which excludes exceptional items such as the impact of the bank
Read moreLondon pre-open: Stocks set for dull start
31st Oct 2011 06:24
After all the excitement of last week, investors seem in the mood to take a pause for breath, with City sources predicting the FTSE 100 will open down 50 points from yesterday's close of 5,702. Banking colossus Barclays made an adjusted profit before tax of £5.07bn in the first nine months of 2011
Read moreSunday newspaper round-up: Barclays, Italy, ECB, funds, G4S
30th Oct 2011 15:46
"Investment banking revenues at Royal Bank of Scotland and Barclays have taken a significant dive during the third quarter, results this week are expected to show. Keith Bowman, banking specialist at broker Hargreaves Lansdown, believes figures from the two banks' investment banking divisions could
Read moreLondon close: Choppy FTSE 100 closes lower
28th Oct 2011 17:08
Shares finished slightly lower after a quiet day on the company news front, giving traders a chance to sit back and appraise the latest developments in the Eurozone saga. Stock markets across the globe surged higher yesterday, with the three US benchmarks rising by an average 3% last night after le
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