Broker tips: Rotork, Crest Nicholson, Barclays
8th Aug 2016 13:21
(ShareCast News) - Jefferies maintained Rotork's rating at 'underperform' on Monday but raised its target price to 170p from 155p based on a higher 2017 forecast for the British manufacturer. "Markets are difficult and this is unlikely to change soon, there is pricing pressure, margins/returns are u
Read moreBarclays rallies on Exane upgrade
8th Aug 2016 08:43
(ShareCast News) - Barclays got a boost on Monday after Exane BNP Paribas upgraded the stock to 'outperform' from 'neutral' as it took a look at UK banks. Exane pointed out that having been cautious on the stock for two years, it "made the mistake" of upgrading the recommendation shortly before the
Read moreMonday newspaper round-up: Lloyds, new post-Brexit data, banks
8th Aug 2016 06:59
(ShareCast News) - Thousands of retail investors are likely to be denied the chance of buying shares in Lloyds Banking Group at a discount as the government is expected to abandon the plan in the aftermath of market uncertainty caused by Brexit. The government put plans for a "Tell Sid" offer of Llo
Read moreRBS sinks into the red at the half-year stage
5th Aug 2016 07:03
(ShareCast News) - RBS was pushed deep into the red as a result of provisions to cover possible litigation costs linked to its 2008 rights issue just prior to its emergency rescue by taxpayers.. The mostly state-owned lender reported an attributable loss of £2.05bn at the half-year stage, compared t
Read moreEBA stress tests highlight weaknesses in some lenders and bank systems, S&P says
1st Aug 2016 14:06
(ShareCast News) - European regulators´ bank stress-test results showed that most of them had sufficient capital to withstand an adverse scenario, one of the world´s main credit rating agencies said. However, the results of the EBA´s tests also highlighted "potential weaknesses" in some banks and ba
Read moreBarclays Tier 1 capital ratio falls to 7.3% under EU stress test
1st Aug 2016 07:09
(ShareCast News) - Barclays said its Tier 1 capital ratio fell to 7.3% from a 2015 year-end position of 11.4% under a stress test conducted by the European Banking Authority under the European Union's Capital Requirements Directive. The 2016 EU-wide stress test does not contain a pass fail threshold
Read moreBarclays half-year pre-tax profits fall 21%
29th Jul 2016 07:36
(ShareCast News) - Half year pre-tax profits at Barclays fell 21% to £2.06bn, reflecting the costs of offloading its non-core business. The bank's core business made pre-tax profits of £3.97bn, up 19% while the non-core business made a loss of £1.9bn. The non-core loss was mainly due to a £372m
Read moreBank solvency in jeopardy if recession hits post Brexit
28th Jul 2016 16:17
(ShareCast News) - Britain's banking system will face a capital shortfall of £68bn if the UK hits a recession after it leaves the EU, according to Moody's. The ratings agency has carried out its annual stress test across British high street banks to see whether they have enough capital to withstand
Read moreWednesday broker round-up
20th Jul 2016 09:29
(ShareCast News) - Centrica: Berenberg reiterates buy with a target price of 230p. Rio Tinto: Deutsche Bank maintains buy with a 3160p target. IG Group: RBC reiterates sector perform with a 865p target. SSP: JP Morgan stays at overweight with a 358p target. Vodafone: Deutsche Bank reiterates buy
Read moreBarclays plans to sell its Egypt unit
19th Jul 2016 16:35
(ShareCast News) - Barclays bank has put its Egyptian unit up for sale with interest from two banks from the Middle East and North Africa having surfaced. According to Reuters, Emirates NBD had showed interest in a possible acquisition and had sought advice from Perella Weinberg Partners, which work
Read moreBritish workers lack digital skills, according to Barclays
19th Jul 2016 11:56
(ShareCast News) - British employers are failing to train their staff up to the level of digital skills they require to do their jobs, according to a poll by Barclays. The shortage of digital skills is costing the UK around £63bn a year in lost economic activity. The online poll of 10,000 people ind
Read moreCapita bumps up forecast for 2016 dividends, mid-caps to take Brexit hit
18th Jul 2016 12:28
(ShareCast News) - The fall in sterling following Brexit would deliver an immediate boost to the value of companies' dividend payments but potential recessionary pressures would hit profits and dividends from UK-focused mid-caps hardest, Capita said in its second quarter 2016 Dividend Monitor. De
Read moreLondon close: Banks, financials and property fly amid BoE rate-cut chatter
7th Jul 2016 16:38
(ShareCast News) - UK shares flew north with Associated British Foods leading blue chips on a chipper update and chased by a peloton of banking, financial and property stocks on rising expectations of a Bank of England rate-cut next week. "Today marks the first day since the (non-binding Brexit) ref
Read moreMorgan Stanley queries real-economy demand for lending amid Brexit
6th Jul 2016 18:23
(ShareCast News) - Investment bank Morgan Stanley has questioned whether there will be real-economy demand to borrow from banks given Brexit-induced uncertainty, regardless of Bank of England's recent bid to stoke such lending. As such, Morgan Stanley, which has taken a cautious post-Brexit stance o
Read moreFormer Barclays staffers convicted for Libor rigging
4th Jul 2016 14:37
(ShareCast News) - Three former Barclays employees have been convicted as guilty at Southwark Crown Court for manipulating the Libor interest rate in the period 2005-2007. Banks use the Libor rate to set prices for financial products. Jonathan Mathew, Jay Merchant, and Alex Pabon were convicted las
Read more