Tuesday preview: Barclays, InterContinental Hotels, inflation
14th Feb 2011 16:48
Results from Barclays on Tuesday are as likely to feature on the front pages as they are on the City pages. Market consensus is for profit before tax for 2010 of £5.54bn, up from 2009's £4.59bn. Revenue is slated to rise to £30.25bn from £29.95bn in 2009. "The key trends in the third quarter resu
Read moreBarclays to cut cash bonuses
14th Feb 2011 15:50
Barclays kicks off the bank reporting season tomorrow and, if all the chat is to be believed, the cash element of bonuses for its wealthy traders will be slashed in favour of deferred payments. Investment arm Barclays Capital, until recently run by chief executive Bob Diamond, is thought to have cu
Read moreBarclays stops providing asset finance to smallest companies
14th Feb 2011 14:19
Barclays says that it will stop providing asset finance to firms with a turnover of less than £5m a year. This comes less than one week after Project Merlin the agreement between the main banks and the government which was supposed to secure additional lending to small businesses. Barclays, HSBC,
Read moreSunday newspaper round-up: Inflation, Barclays, BHP Billiton...
13th Feb 2011 11:14
Inflation is set to soar to 4% this week, increasing the chances of an early hike in interest rates and forcing the Bank of England to admit it has again underestimated the extent of rising prices. Economists expect the January inflation figures, unveiled on Tuesday, to show the Vat increase and ro
Read moreLondon close: Shares applaud Mubarak exit
11th Feb 2011 16:51
Shares rallied sharply in the afternoon following strong confidence figures from the US, but it was the announcement that Egyptian president Hosni Mubarak is stepping down that really stirred up excitement. One stock in particular reacted strongly to the announcement. Shares in gold miner Centamin
Read moreLondon afternoon: L&G leads modest advance
11th Feb 2011 14:11
Leading shares are mixed but with a slightly firmer bias after rising over the lunchtime session. Insurer Legal & General (L&G) leads the advance on the back of a positive broker note from Nomura Securities. "We highlight our preference for L&G over Prudential (Reduce), given that we expect Pru to
Read moreWeek Ahead: Barclays, Inflation, Unemployment
11th Feb 2011 10:58
It's a busy week on the company news and economic events fronts next week, with big hitters such as British Land, Barclays, InterContinental Hotels, BHP Billiton, BAE Systems and Reed Elsevier all updating the market, while economists will be waiting to pore over the Bank of England's quarterly infl
Read moreBanks agree to increase lending
9th Feb 2011 13:15
Britain's big banks are to lend about £190bn to businesses this year in a deal announced by the government today. Under 'Project Merlin', which was conjured up by chancellor George Osborne, £76bn of this sum will be made available to small businesses. Banks have been under heavy pressure to make mo
Read moreBroker tips: Barclays, C&W Comms, Reckitt Benckiser
9th Feb 2011 12:17
How Barclays' management addresses the group's challenges in its 2010 results will be critical to convince the market of its ability to make attractive returns, according to Japanese broker Nomura. "With a new chief executive officer presenting, any comments made around initiatives to improve group
Read moreBroker snap: All eyes on strategy at Barclays
9th Feb 2011 11:46
How Barclays' management addresses the group's challenges in its 2010 results will be critical to convince the market of its ability to make attractive returns, according to Japanese broker Nomura. "With a new chief executive officer presenting, any comments made around initiatives to improve group
Read moreBank levy raised to £2.5bn
8th Feb 2011 08:16
Chancellor George Osborne has increased the government levy on bank profits this year by £800m to £2.5bn. Originally the chancellor said he would phase the tax in, with a lower rate of £1.7bn applicable in 2011 rising to about £2.5bn annually by 2012-13. But today, the Treasury said it had increas
Read moreSunday newspaper round-up: Bank bonuses, BP, Pfizer...
6th Feb 2011 11:02
Britain's biggest banks are poised to pay out a combined £6bn in bonuses despite government demands for restraint on City pay. The size of the payout will embarrass George Osborne, the chancellor, who is hoping to announce a peace deal with the City this week that will include targets for lending t
Read moreCBI opposed to break up of banks
4th Feb 2011 00:04
The desire to break up UK banks considered "too big to fail" should be resisted, John Cridland, the new head of the pressure group the Confederation of British Industry (CBI), said on Friday. In a series of recommendations to the Independent Commission on Banking, Cridland said: "Businesses value i
Read moreBroker tips: UK banks, Experian
3rd Feb 2011 14:08
According to Credit Suisse, there is "little to excite" investors in UK banking: Barclays remains the broker's top pick in the sector, while target prices are reduced for Lloyds, RBS, HSBC and Standard Chartered. In regards to the sector as a whole, "our advice is unchanged", says analyst John Pier
Read moreBroker snap: Little to excite at UK banks
3rd Feb 2011 13:06
According to Credit Suisse, there is "little to excite" investors in UK banking: Barclays remains the broker's top pick in the sector, while target prices are reduced for Lloyds, RBS, HSBC and Standard Chartered. In regards to the sector as a whole, "our advice is unchanged", says analyst John Pier
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