FTSE 100 movers: TUI soars on strong first half results, supermarkets lower
25th Mar 2015 13:54
TUI topped the risers after the group's first half trading update had surpassed last year's trading figures. The group's full year guidance of underlying operating profit growth of 10% to 15% was reiterated, based on the strength of current trading, as online bookings for hotel resorts and cruises s
Read moreLondon midday: FTSE 100 rangebound as market lacks clear direction
25th Mar 2015 12:01
UK equities traded in a narrow range on Wednesday, unable to pursue a firm direction as markets continue to be conflicted with mixed signals. At 1212 GMT, the FTSE 100 index was flat at 7020. On Tuesday, a slide on Wall Street which caused the S&P500 to close 13 points lower pressured Asian share m
Read moreBarclays downgraded to 'hold' over at Investec Securities
25th Mar 2015 10:18
British bank Barclays had its rating downgraded to 'hold' from 'buy' over at Investec Securities on Wednesday. The broker said the main plank of its investment case for buying Barclays over the past year has been its extreme relative and absolute cheapness, reinforced by an absolute cost reduction s
Read moreLondon midday: FTSE fluctuates around 7,000 as Greek concerns weigh
23rd Mar 2015 11:42
UK stocks retreated slightly from a record high on Monday morning on the back of uncertainty in Greece, though decent gains from banking, oil and mining stocks were providing some support. The FTSE 100 was down 0.09% at 7,016 by midday, pulling back after setting a new all-time closing high of 7,022
Read moreBroker tips: Standard Chartered, HSBC, RSA Insurance
18th Mar 2015 11:43
Shares in Standard Chartered were surging on Wednesday after analyst at both Barclays and Bernstein raised their rating on the banking stock. Barclays analysts, which lifted their stance on StanChart from 'equal weight' to 'overweight', said they expect the recent appointment of Bill Winters as chie
Read moreBarclays and Citigroup close to settling Forex lawsuit with private investors
17th Mar 2015 18:09
Citigroup and Barclays will reportedly settle a lawsuit with private investors who say the banks manipulated foreign-exchange rates within the week. The Banks are expected to pay up to a combined $800m to settle the lawsuit, considerably larger payments than those made by JP Morgan and UBS who have
Read moreUS prosecutors could revoke settlements in currency-rigging investigations
17th Mar 2015 15:58
The US Justice Department is considering revoking years-old settlements to open fresh probes into banks alleged to have rigged interest rates. According to sources cited by Bloomberg, prosecutors could decide to scrape the agreements with each lenders, if they're found guilty of having committed cri
Read moreMorgan Stanley expects UK bank capital ratios to rise further to meet regulatory standards
9th Mar 2015 17:41
US heavyweight banking titan Morgan Stanley took note of the rising capital demands for UK banks in its latest note to clients and now expects that over 13% of Common Tier Equity 1 (CTE1) ratios to become the new baseline for the sector. "We see more evidence that the seemingly relentless march upwa
Read moreBoE says size of investment banks leaves them vulnerable to risks
9th Mar 2015 16:53
With trading assets of 10 of the largest investment banks in the UK summing to more than £5trn, the sheer scale of these operations means that liquidity in financial markets can be vulnerable to the failure of a single firm. That was the message of the Bank of England's (BoE) latest quarterly bullet
Read moreMonday broker round-up
9th Mar 2015 11:29
Barclays: Charles Stanley reiterates accumulate. Nomura stays at buy, ups target to 81p from 78p. Lloyds: Investec reiterates buy and 85p target price. RSA: Credit Suisse reiterates outperform recommendation and hikes target to 525p from 475p. Goldman downgrades to sell from neutral. ARM Holdings:
Read moreMonday newspaper round-up: Euribor probe, Greece, Tesco
9th Mar 2015 06:50
Former traders from Barclays and Deutsche Bank will be interviewed by UK fraud investigators in an ongoing criminal probe into the alleged rigging of Euribor, writes the Financial Times. "The move raises the prospect for the banks that investigations into alleged manipulation of interbank rates will
Read moreFTSE 100 movers: ITV soars after beating 2014 forecasts, Fresnillo plunge on weak profits
4th Mar 2015 15:11
ITV topped the risers after the strongest advertising performance in five years helped it beat forecasts for 2014, as it hiked its annual dividend 34% and proposed an extra payout for shareholders. Numis Securities upped its rating on the broadcaster and producer from 'add' to 'buy'. Emerging market
Read moreSector movers: StanChart and Barclays give banks a boost
4th Mar 2015 14:53
Decent gains from the likes of Standard Chartered and Barclays drove the UK banking sector higher on Wednesday. Emerging markets-focused lender Standard Chartered was rising 4.3% in afternoon trade despite announcing that adjusted pre-tax profits in 2014 dropped 25% to $5.2bn as operating income fel
Read moreWednesday tips round-up: Barclays, Merlin Entertainments
4th Mar 2015 13:49
Sentiment may have turned on shares of Barclays. The stock has risen 15% over the last six months, outperforming other UK banks and its universal European peers. Hence, the lender's stock now changes hands at 0.8 times book value, versus 0.6 times before. But a vote of confidence from investors woul
Read moreBroker tips: StanChart, Barclays, ITV, Rightmove
4th Mar 2015 11:38
Standard Chartered's annual results missed analysts' forecasts by a long way on Wednesday, though the market gave a warm welcome to the 2014 report with Shore Capital choosing to keep its 'buy' recommendation. Analyst Gary Greenwood said: "The introduction of more aggressive action on costs and capi
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