Macquarie stays long on Barclays, sees possible seismic shift in retail banking
14th Sep 2015 12:40
(ShareCast News) - Barclays was taking the "correct" approach to defending its terrain in the Payments arena against the onslaught of new entrants into the market and was better placed than the more retail-facing lenders to withstand, some analysts believed. Following an investor lunch with Barclayc
Read moreBanks' technology investments are not panacea yet, warns Bernstein
14th Sep 2015 10:18
(ShareCast News) - Bernstein warned investors not to expect the rise of financial technology to enable banks to significantly cull branch numbers in coming years, but that substantial changes to the industry are still likely via 'fintech'. Bernstein, whose current stance on UK banks has Royal Bank o
Read moreBroker tips: StanChart, BP, Tullow Oil
10th Sep 2015 16:24
(ShareCast News) - The largest UK banks face several further operational headwinds which the market may not be fully factoring in yet, analysts believe. Foremost among those is the 2018 implementation of the IFRS9 accounting standard regarding provisions, which will be half again as high as IAS39. T
Read moreExane BNP lowers targets across UK banks, except RBS
10th Sep 2015 16:12
(ShareCast News) - The largest UK banks face several further operational headwinds which the market may not be fully factoring in yet, analysts believe. Foremost among those is the 2018 implementation of the IFRS9 accounting standard regarding provisions, which will be half again as high as IAS39. T
Read moreBank surcharge forecasts "vastly understate" pain on sector, says EY
7th Sep 2015 13:30
(ShareCast News) - The banking sector will have to pay out vastly more than expected from George Osborne's new profits surcharge, which was introduced to reduce the pain of the Bank Levy on lenders such as HSBC. When the Chancellor unveiled the new 8% surcharge on bank profits and plans to lower the
Read moreBarclays sells UK secured lending business
7th Sep 2015 10:51
(ShareCast News) - Barclays has sold its UK secured lending portfolio to a group led by Goldman Sachs, which includes Elderbridge and Pollen Street Capital. The bank said the sale, which is part of Barclays non-core, has cut risk-weighted assets by a further £1.2bn and will have a positive impact on
Read moreBarclays to sell Portuguese businesses to Bankinter
3rd Sep 2015 07:55
(ShareCast News) - Barclays Bank has agreed to sell its retail banking, wealth and investment management businesses and part of its corporate banking business in Portugal which serves small and medium-sized enterprises to Bankinter. It has also agreed to sell its insurance business in Portugal to Ba
Read moreBarclays to sell Portuguese businesses to Bankinter
3rd Sep 2015 07:55
(ShareCast News) - Barclays Bank has agreed to sell its retail banking, wealth and investment management businesses and part of its corporate banking business in Portugal which serves small and medium-sized enterprises to Bankinter. It has also agreed to sell its insurance business in Portugal to Ba
Read moreThursday newspaper round-up: Barclays, Facebook, China
27th Aug 2015 07:09
(ShareCast News) - A district court judge in the US has thrown out investor lawsuits against Barclays and a host of exchanges, dismissing claims that the bank rigged its "dark pool" trading venue in favour of high-frequency traders. The multi-district litigation was part of a litany of claims set of
Read moreMorgan Stanley turns positive on RBS for first time in six years
26th Aug 2015 14:09
(ShareCast News) - Morgan Stanley upgraded its stance on Royal Bank of Scotland to 'overweight' from 'equalweight' and lifted its price target to 400p from 345p as restructuring enters the final furlong. The bank said this marks the first time in six years that it's turning positive on RBS. MS said
Read moreInvestec upgrades Barclays to 'buy' but prefers others
25th Aug 2015 12:09
(ShareCast News) - Analysts at Investec have upgraded Barclays to 'buy' from 'sell' and held a price target of 270p. Investec said a 15.3% three week correction was the sole reason for the recommendation change, and the bank offers a relatively modest upside on a 12 month view. "However, while we n
Read moreRBS, Barclays and HSBC among nine banks to settle forex-rigging claims
14th Aug 2015 14:52
(ShareCast News) - HSBC, Barclays and Royal Bank of Scotland are among nine banks that have agreed a settlement with US investors over foreign exchange rate rigging claims, with litigation continuing a group of 12 others that includes Standard Chartered. UBS, Citibank, Goldman Sachs, BNP Paribas, Ba
Read moreBarclays said to be cutting 150 investment bank jobs
31st Jul 2015 14:56
(ShareCast News) - Barclays is reportedly cutting about 150 jobs at its investment bank as part of an attempt to reduce costs and improve profitability. According to sources cited by Reuters, affected staff - including fund managers - were told this week, although there were no indications about whi
Read moreFTSE 100 movers: GSK and Hikma lead blue chips higher
29th Jul 2015 15:24
(ShareCast News) - The FTSE 100 index built an early lead on Wednesday and stayed in positive territory thanks to forecast-busting results from several heavyweights in the pharma, tobacco and banking sectors. London's blue chip index was up 0.57% to 6,592.54 at 1435 BST. Top of the leaderboard mid-
Read moreLondon open: US Fed in a pinch with CPI set to drop
29th Jul 2015 10:20
(ShareCast News) - Stocks in London continued to bounce back ahead of Wednesday's policy decision from the US Federal Reserve, as some analyst warned of deflation risks. Even the Shanghai Stock Exchange's Composite Index finished higher overnight, rising by 3.44% to reach 3,789.19 points. Gains were
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