UK bank levy change would benefit StanChart the most, says SocGen
8th Jun 2015 09:30
Commenting on a Sunday Times report that George Osborne is to lay the groundwork for a review of the bank levy, Societe Generale said that Standard Chartered was likely to be the biggest beneficiary. SocGen explained that the current method of calculation puts UK banks at a disadvantage when operati
Read moreBarclays settles Lehman Brothers litigation; sees $750m boost to profit
5th Jun 2015 15:55
Barclays said on Friday that it has reached a settlement with the SIPA Trustee for Lehman Brothers to resolve outstanding litigation between the parties relating to the acquisitions by Barclays of most of Lehman's assets in September 2008. As a result of the settlement, Barclays expects to recognise
Read moreCiti sees 40% return on European equities to end-2016
1st Jun 2015 10:50
European shares are set to 'deliver' as economic recovery in the euro area gains traction and given that valuations are not currently expensive, contrary to what some observers say, a leading broker argued on Monday. In a research note entitled "El Toro - the European bull" analysts at Citi highligh
Read moreLondon open: Ahead of US data, stocks pare gains on Greek worries
1st Jun 2015 08:24
Stocks pared strong early gains ahead of a raft of US economic data scheduled for release in the afternoon amid continued worries over the situation in Greece. As of 08:56 the FTSE 100 was higher by 24.21 points to 7,008.64. The top flight index snapped higher at the start of the session following
Read moreStifel reportedly in lead to buy Barclays' US wealth management unit
1st Jun 2015 07:11
Investment bank Stifel Financial Corp is reportedly in advanced talks to acquire Barclays' US wealth management unit in a deal that could come as early as next week. Stifel is currently negotiating key aspects with Barclays, although a deal is not certain and Barclays could go back to other bidders
Read moreFTSE 100 movers: Banks and miners weaker, property stocks extend gains
26th May 2015 13:18
UK stocks were were buffeted on Tuesday by Greek uncertainty, stateside interest rate speculation and weakness among miners and financials. As of 14:30 BST, the FTSE 100 was trading 23.5 points lower at 7,008.24. Banking stocks with high eurozone exposure plummeted as Greece concerns merged with Sp
Read moreLondon midday: Banks and oil stocks drag Footsie lower after long weekend
26th May 2015 11:33
Greek uncertainty, interest rate speculation stateside and tonnes of US economic data ahead led to a nervous start in London following the long weekend. The FTSE 100, which settled at a two-week closing high of 7,031.72 on Friday, was down 0.23% at 7,015.37 by Tuesday midday. Concerns that Greece w
Read moreLondon open: Greek fears hit stocks as investors await US data barrage
26th May 2015 08:21
UK stocks slipped on Tuesday morning as investors started a shortened trading week on a cautious note ahead of a raft of economic data from the States. The FTSE 100 was down 0.58% at 6,991.11 early on with stocks in the banking and oil sectors providing a drag. Concerns that Greece will struggle to
Read moreSunday newspaper round-up: Vodafone, National Grid, bank legal claims
24th May 2015 16:21
Several of Vodafone's major shareholders have urged the telecoms giant to pursue a merger with US-based Virgin Media owner Liberty Global and offload some of its overseas businesses. After Liberty's owner, US billionaire John Malone, dropped heavy hints about a potential deal, the Sunday Telegraph r
Read moreStart-up British banks seeing better returns than larger rivals, says KPMG
22nd May 2015 13:35
New 'challenger' banks are outperforming the 'Big Five' high street banks, and the larger lenders need to examine better ways of standing out in the market, according to a report by KPMG. The reported said that new banks in the UK are securing stellar returns, as they pick up "the whitespace left be
Read moreThursday broker round-up
21st May 2015 13:01
Barclays: JP Morgan Cazenove reiterates overweight and 285p target. StanChart: Goldman sachs reiterates neutral. St.James Place: Numis reiterates add and 1050p target. Hargreaves Lansdown: JP Morgan Cazenove reiterates neutral and raises target to 1,100p from 1,050p. UK Mail Group: RBC Capital re
Read moreLondon close: Vodafone, banks lead markets higher but Greek concerns weigh
20th May 2015 16:59
Decent gains from blue chips Vodafone, Barclays and RBS gave UK stock markets a lift on Wednesday, with the Footsie settling above the 7,000 level for the first time in seven sessions. The FTSE 100 finished 12.16 points higher (+0.17%) at 7,007.26, a level it has not closed above since 11 May. Howe
Read moreBarclays and RBS among banks fined $5.6bn for forex rigging
20th May 2015 15:01
Five global banks including the UK's Barclays and Royal Bank of Scotland have agreed to pay over $5bn in combined fines and will plead guilty to criminal charges over the rigging of foreign exchange markets. After a long-standing US probe into whether traders at the institutions conspired to fix for
Read moreMonday newspaper round-up: Greece, Whitehall job cuts, NHS
18th May 2015 06:51
Greek prime minister Alexis Tsipras had warned creditors that it would not be able to repay the IMF, just days before Athens tapped emergency reserves at the Fund, according to The Telegraph. "It has emerged that the prime minister was seemingly unaware of the cash reserves just days before the paym
Read moreBarclays facing possible fine over LIBOR settlement breach
15th May 2015 07:55
Barclays may be facing a second fine in connection to its June 2012 settlement with US authorities over the alleged rigging of the main interbank lending rate, known as the London Interbank Offered Rate or LIBOR. The size of the fine is not clear but as of a few weeks ago was calculated to stand at
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