Broker tips: Next, Cape, UK banks
16th Sep 2009 12:46
KBC Peel Hunt is contemplating upgrading its target price, earnings forecasts and rating for Next after the fashion retailer's impressive interim results on Wednesday morning. The broker expects consensus forecasts for full year pre-tax profit are likely to rise as a result of the half-year update,
Read moreBroker snap: Book profits on banks, Nomura says
16th Sep 2009 11:55
Broker Nomura Securities has warned that shareholders in UK banks should be wary of the potential for a reversal in the sector and advises banking profits. 'The domestic UK banks have rebounded to valuations of 1.4x book value, with the Far Eastern banks on 2.2x. Consequently, we advocate booking s
Read moreWednesday newspaper round-up: Lloyds Banking, Tullow Oil, Barclays
16th Sep 2009 06:15
The European Commission has warned Lloyds Banking Group that it may have to split off Halifax as punishment for the billions of pounds of state aid that it has received. Neelie Kroes, the Competition Commissioner, has yet to make a final decision, but banking sources say it is clear that she is pla
Read moreLondon close: Stocks gain on economic cheer
15th Sep 2009 16:40
Footsie put further distance between itself and the 5,000 point mark as the global economic outlook brightened. The US recession is 'very likely' to have ended, Federal Reserve chairman Ben Bernanke said. Here, the UK Consumer Prices Index in August showed an annual increase of 1.6%, the lowest si
Read moreLondon afternoon: Weak retailers out of step
15th Sep 2009 14:18
Leading shares are consolidating the morning's gains, though retailers decline to join the party. Confusion and speculation surrounds the acquisition and fund raising intentions of general insurer RSA. Reports in today's FT suggest RSA indicated at a recent investors conference that it was looking
Read moreLondon midday: RSA's bid plans unclear
15th Sep 2009 12:11
After a quiet but tospy-turvy session the blue-chip index ended the morning in positive territory, despite the UK inflation picture not improving as much in August as expected. The UK Consumer Prices Index in August showed an annual increase of 1.6%, the lowest since level since February 2005 and do
Read moreRegulator fines Barclays £2.45m for reporting errors
8th Sep 2009 10:24
Barclays has been hit with a £2.45m fine by the FSA for failures in its reporting of transactions. The FSA said it discovered discrepancies in Barclays' data while reviewing a suspected incident of market abuse by a third party. 'A subsequent review of Barclays' transaction reporting arrangement
Read moreTuesday tips round-up: Barclays, AB Foods, Goals Soccer
8th Sep 2009 06:56
While Barclays was not immune to the effects of the credit crunch, it is clearly in much better shape than either Lloyds TSB or Royal Bank of Scotland, and has not yet had to call on the taxpayer for any cash. Brokers have Barclays on an adjusted multiple of just 5.3 times this year's forecast earn
Read moreBarclays starts PPI appeal
7th Sep 2009 12:30
Barclays today went to the Competition Appeal Tribunal to attempt to overturn to the Competition Commission's proposed ban on the sale of payment protection insurance (PPI) alongside credit agreements. Barclays is tackling the ban on two specific issues. 'The main area of concern is the point of sa
Read moreLondon open: Footsie starts flat
3rd Sep 2009 08:17
Footsie is flat in early deals with miners pushing the markets in one direction and financials and defensives dragging it the other. Amongst the major risers so far are miners Randgold Resources, Lonmin, Xstrata, Kazakhmys, Rio Tinto, Fresnillo and Vedanta Resources. the big fallers are RSA Insuran
Read moreWednesday newspaper round-up: RBS, energy firms, General Motors
26th Aug 2009 06:48
The sale of Royal Bank of Scotland's retail and commercial assets in China has hit a stumbling block that could derail negotiations with preferred bidder Standard Chartered, according to people familiar with the matter, according to the Financial Times. Standard Chartered entered exclusive talks wit
Read moreLondon close: Stocks finish ahead
24th Aug 2009 16:23
London's leading shares have finished the day with comfortable gains as miners and banks stole the limelight. Mining giant Rio Tinto is reportedly in talks with the Aluminium Corporation of China (Chinalco) over co-operation in bauxite and alumina production. The Australian Financial Review newspap
Read moreNew non-exec at Barclays buys again
19th Aug 2009 17:28
Reuben Jeffery III, a non-executive director of UK banking giant Barclays, dipped into his pocket to buy 6,000 American Depositary Shares (ADS) at an average price of $22.8398 per ADS. Each ADS represent four ordinary shares in Barclays. The total cost of the purchase to Jeffery was £82,762 and bri
Read moreFat cats back on the news agenda
17th Aug 2009 14:06
Compass, a left wing pressure group, has called for the creation by the government of a High Pay Commission to launch 'a wide-ranging review' of the pay of top bosses and high earners operating in the world of finance. 'Remuneration and performance pay cycles are too short; rewards for failure are
Read moreMonday newspaper round-up: FSA, Barclays, Xstrata
17th Aug 2009 05:58
The Financial Services Authority's efforts to strengthen its supervisory and enforcement work by recruiting hundreds more staff have been thrown off course by the Conservative party's plan to disband the regulator, says the FT. Since George Osborne, shadow chancellor, said last month he would shift
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