DoJ declined to prosecute Citigroup on LIBOR rigging
11th May 2015 14:07
The Department of Justice (DoJ) declined to prosecute on charges that it tried to rig the London Interbank Offered Rate (LIBOR), Citigroup said in a quarterly filing with the US stock market regulator, the SEC. Shares in the lender were lower by 0.30% to trade at $53.86 as of 14:06 London time, befo
Read moreMonday newspaper round-up: China cuts rates, Barclays, Greece
11th May 2015 06:41
China has lowered interest rates for the third time in six months in an effort to avert a slowdown, cutting the benchmark lending and deposit rates by 25 basis points each, The Wall Street Journal writes. "Barclays faces fines and penalties of more than £2 billion this week as the big investment ban
Read moreLondon midday: Stocks power ahead as market cheers surprise Tory election win
8th May 2015 11:23
London stocks posted healthy gains on Friday as investors welcomed news that Prime Minister David Cameron's Conservative party is on track for a second term in power. The FTSE 100 was up 1.7% at 7,004.23 by midday, with banks, utility stocks and housebuilders pacing the advance. Lloyds Banking Grou
Read moreNomura upgrades UK banks after recent underperformance; says Tory election win is more banking friendly
8th May 2015 09:48
Nomura upgraded UK bank stocks to overweight from underweight on Friday, pointing to their recent underperformance and the "business/banking friendly outcome" of the UK election, with the Conservative Party on track for another five years in power. "When we downgraded the UK banks sub-sector at the
Read moreOphir Energy brings on Golar as mid-stream partner at Fortuna
5th May 2015 07:28
Unlike its competitors, Ophir Energy has decided to move ahead with investments at its Fortuna LNG project offshore Equitorial Guinea, accelerating the date of first gas. On Tuesday, the company named Golar LNG as its mid-stream partner for its Fortuna floating liquefied natural gas (FLNG) project.
Read moreLondon close: Markets shrug off weak data as Lloyds and miners surge
1st May 2015 16:37
Strong gains from mining stocks and an impressive first-quarter performance from UK lender Lloyds helped UK markets to rise on Friday, as investors shrugged off mostly worse-than-expected economic data. "With Europe mostly out of action for May Day, it was a quiet day in London, but at least the tra
Read moreBroker tips: Lloyds, Barclays, Zoopla
1st May 2015 11:40
Lloyds impressed investors and analysts alike with its first-quarter results on Friday, though some brokers highlighted uncertainty ahead of the election and regarding the government's stake. Gary Greenwood from Shore Capital said he expected the shares to react positively, but material upside "may
Read moreBerenberg cuts Barclays to 'sell'
1st May 2015 10:34
Berenberg has recommended investors to 'sell' shares of Barclays, saying that positive catalysts at the bank "seem further away than we hoped". The broker lowered its rating on the stock from 'hold' and cut its target price from 220p to 200p. "Barclays is one of our wildcards for 2015 as we believe
Read moreThursday broker round-up
30th Apr 2015 18:01
Schroders: Credit Suisse reiterates outperform and 2,770p target price. Tesco: UBS restarts coverage at buy with 260p target. Pearson: Westhouse Securities reiterates sell and 1,185p target price. RBS: Shore Capital reiterates hold, Numis reiterates add (with 400p target), Investec reiterates hold
Read moreWednesday broker round-up
29th Apr 2015 19:53
Sky: JP Morgan reiterates neutral stance and 1,170p target. GlaxoSmithKline: UBS reiterates buy and 1,700p target. StanChart: Nomura reiterates neutral and lifts target to 1,170p from 1,030p. UBS reiterates neutral stance with 1,000p target. Henderson Group: Citi reiterates buy with 3,250p target.
Read moreLondon close: Stocks retreat further from record on weak US data, Greece
29th Apr 2015 16:30
Stocks dropped sharply again on Wednesday as gloomy US economic data and ongoing uncertainty in Greece hammered sentiment. London's FTSE 100 finished 1.2% lower at 6,946.28, with investors extra cautious ahead of a policy statement at the Federal Reserve after the close. This was the second straigh
Read moreLondon midday: Stocks pause ahead of US GDP and Fed announcement
29th Apr 2015 12:06
UK stocks markets wavered on Wednesday after a sell-off the previous session as investors treaded lightly ahead of economic growth data and a policy decision Stateside. London's FTSE 100 was trading 0.04% lower at 7,027.68 by midday with a flurry of mixed corporate earnings to digest from the likes
Read moreLondon open: Stocks flatline amid earnings flurry ahead of FOMC
29th Apr 2015 09:16
UK stocks opened flat on Wednesday morning as investors digested a barrage of blue-chip earnings and awaited a Federal Reserve policy decision in the US. The FTSE 100 was trading just 0.03% lower at 7,028.48 early on. The index had retreated on Tuesday to 7,030.53 after setting a new all-time closi
Read moreBarclays first quarter profits rise, books provisions for FX
29th Apr 2015 07:11
Adjusted profits before tax at Barclays rose by 9% to £1.85bn over the first three months of the year. That was better than the £1.6bn anticipated by analyst Mike Trippit at Numis. However, statutory group profits decreased by 26% to £1.3bn, as adjusting items which in the year ago period led to a
Read moreWednesday preview: Fed in focus as central bank unveils policy measures
28th Apr 2015 13:33
Investors will be keen to see if the Federal Reserve on Wednesday provides hints on the timing of its first interest rate hike when the central bank releases its policy decision, while the UK corporate calendar sees Barclays, British American Tobacco, Home Retail, Next and Standard Life among those
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