MARKET TALK: Banks Continue Their Advance; A Change In Trend?
28th Jul 2010 10:59
0959 GMT [Dow Jones] The Stoxx Europe 600 banks index +0.6% at 226.78, having added around 7.5% of gains since the release of the EU-wide stress tests and the relaxation of the Basel III capital requirements. After years of underperformance, and with most investors (apparently) still underweight, a
Read moreGermany's L-Bank Sets Guidance On EUR1 Billion Five-Year Bond
28th Jul 2010 08:50
LONDON (Dow Jones)--Landeskreditbank Baden-Wuerttemberg, or L-Bank, has set guidance on its EUR1 billion, 2015-dated bond between five and four basis points below midswaps, one of the banks running the sale said Wednesday. Barclays Capital PLC, Commerzbank AG, JPMorgan Chase & Co. and UniCredit
Read moreLondon open: Footsie higher after results flood
28th Jul 2010 08:47
London's blue chips have opened despite a mixed reception to some of the announcements on another busy day for company results. Banks are still going well after the reports yesterday that new capital requirements might be less onerous than previously expected. Royal Bank of Scotland and Barclays ar
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
28th Jul 2010 08:19
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0719 GMT [Dow Jones] Oriel Securities downgrades Barclays (BCS) to hold from add, and HSBC Holdings (HBC) to add from buy, bu
Read moreMARKET TALK: Oriel Downgrades Barclays To Hold, HSBC To Add
28th Jul 2010 08:19
0719 GMT [Dow Jones] Oriel Securities downgrades Barclays (BCS) to hold from add, and HSBC Holdings (HBC) to add from buy, but maintains target prices. Says Barclays Capital should see revenue cut of 20% in 2Q versus 1Q, while bank now trades 8% above 312p target price. HSBC trading 10% below 730p t
Read moreADR REPORT: Shares Close Mixed Despite Strong Earnings Reports
27th Jul 2010 21:57
By Emily Glazer Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--International companies trading in New York closed little changed Tuesday as a weak consumer-confidence reading offset a strong round of corporate earnings. The Bank of New York index of ADRs closed up 0.4% to 126.32. The f
Read moreEconomic Data Trump Strong Earnings For Financial Stocks
27th Jul 2010 16:52
By Jennifer Cummings Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Mixed economic data took the steam out of a rally in financial sector, which led markets higher early in the session Tuesday on a wave of strong earnings reports. Earnings from Regions Financial Corp. (RF) and other financ
Read moreLondon close: Lead slashed as miners fail
27th Jul 2010 16:37
A big chunk of the morning's hard-fought gains went up in smoke late in the session as an early rally on Wall Street quickly turned into nothing. Miners were the main culprits. All the big guns gave back big leads mid-afternoon following stronger-than-expected US home-price data that helped the dol
Read moreFTSE 100 movers: Banks higher on European results
27th Jul 2010 16:28
Banks are leading the market higher after good results from their European counterpart UBS. Barclays, Lloyds and Royal Bank of Scotland are the top three risers in the FTSE 100. Net profit at UBS in the second quarter came to 2bn Swiss francs from a loss of 1.4bn Swiss francs last time. That was
Read moreLondon afternoon: Basel boost for banks
27th Jul 2010 14:32
Banking stocks have wrenched attention away from BP this morning, with the major UK banks lifted by strong figures from European peers Deutsche Bank and UBS and also by rumours that banking regulator the Basel Committee is set to lower its minimum capital and liquidity requirements. Barclays, Lloy
Read moreBASE METALS: LME Metals Mixed, Price Correction Seen
27th Jul 2010 11:57
By Rhiannon Hoyle Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Base metals are trading mixed on the London Metal Exchange Tuesday, with copper's price run having stalled and analysts predicting a correction more generally across the complex. The metals have rallied in recent sessions, unde
Read moreLondon midday: Shares edge higher
27th Jul 2010 11:56
London's blue chips are still edging higher, with banks leading the way after Swiss peer UBS beat earnings estimates. Barclays, Lloyds and Royal Bank of Scotland are the top risers in the FTSE 100. Net profit at UBS in the second quarter came to 2bn Swiss francs from a loss of 1.4bn francs last tim
Read moreSector movers: UBS numbers buoy banks
27th Jul 2010 11:39
Banks are buoyant after strong second quarter results from Swiss sector giant UBS. UBS swung to a forecast-beating second-quarter net profit. Net profit came to 2bn Swiss francs from a loss of 1.4bn francs last time. That was well above expectations for a 1.26bn francs profit. Revenue jumped 59% to
Read moreEuropean Bank Shares Rally On Easier Capital Standards
27th Jul 2010 11:08
By Margot Patrick Of DOW JONES NEWSWIRES LONDON (Dow Jones)--European bank shares rallied Tuesday after news late Monday that new international bank-capital standards have been watered down, meaning most banks won't have to immediately raise significant amounts of new capital. Analysts s
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
27th Jul 2010 10:05
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0905 GMT [Dow Jones] UK banks are sharply higher on news that Basel 3 proposals have been watered down, analysts say. Llo
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