Thursday broker round-up
27th Nov 2014 10:15
Amlin: Numis upgrades to 'buy' with a target price of 535p. Amerisur Resources: PeelHunt lowers target price from 58p to 50p and reiterates a 'hold' recommendation. Associated British Foods: Citi raises target price from 3100p to 3700p and maintains its 'buy' recommendation. Avingtrans: FinnCap up
Read moreUS Justice Department to interview London forex traders over rigging
25th Nov 2014 09:11
US Department of Justice prosecutors are stepping up their major investigation into banks' rigging of the forex markets, conducting interviews with London traders in the coming weeks. Officials from the US Department of Justice will interview current and former bank staff at several UK banks as part
Read moreBarclays hires two new RBS corporate bankers
24th Nov 2014 14:35
Barclays have appointed to corporate bankers from the Royal Bank of Scotland (RBS) to aid its expansion in Dubai, according to private sources. Sahibzada Masroor Ali and Joaquin Eliason were both hired, Bloomberg has reported. Ali was previously the head of network client coverage for the Middle Ea
Read moreLondon open: UK markets pause at two-month high, but Petrofac plummets
24th Nov 2014 08:24
UK stocks opened broadly flat on Monday with markets pausing for breath after hitting a two-month high last week. The FTSE 100 was trading down just 0.04% at 6,748 in early deals, with oilfield services group Petrofac providing a drag after a profit warning. The index finished Friday at 6,750.76, a
Read moreTuesday broker round-up
18th Nov 2014 09:42
Aggreko: HSBC raises target price from 1550p to 1650p and maintains a neutral rating. Al Noor Hospitals: Citi initiates with a target price of 1240p and a buy recommendation. Barclays: Credit Suisse ups target price from 230p to 250p and keeps a neutral rating. Bodycote: JP Morgan cuts target pric
Read moreFTSE 250 movers: St. Modwen climbs as Electrocomponents slides
13th Nov 2014 15:50
St. Modwen Properties rose after announcing that its 50/50 joint-venture French partner Vinci has been granted planning permission to redevelop the 57-acre New Covent Garden Market site in south London. The major 10-year project will see the delivery of over 500,000 square feet of new state-of-the-a
Read moreBarclays faces larger fine as New York DFS seeks more 'severe' penalty
13th Nov 2014 12:20
Barclays may be facing a much larger regulatory fine for forex rigging because New York's Department of Financial Services (DFS) refused to join with other regulators in agreeing a group settlement with the bank. New York's chief banking regulator, Benjamin Lawsky, told Barclays last week that he wo
Read moreLondon close: UK stocks snap winning streak on banking fine, BoE outlook
12th Nov 2014 16:20
News of a big fine in the banking sector and gloomy comments from the Bank of England (BoE) weighed on UK equities on Wednesday, with London's stock market finishing lower for the first time in six sessions. A weak start on Wall Street was also pressuring stocks as the benchmark S&P 500 and Dow Jone
Read moreBroker tips: J Sainsbury, Barclays, Tullow Oil, Playtech
12th Nov 2014 12:40
First-half results from grocer J Sainsbury were ahead of market forecasts, but analysts at Shore Capital decided to stay on the fence on the back of continued uncertainties facing companies in the sector. "Whilst we applaud Sainsbury's greater capital discipline, the focus on debt reduction and stre
Read moreLondon midday: Stocks retreat from six-week high on earnings, BoE outlook
12th Nov 2014 12:05
UK equities pulled back from a six-week high on Wednesday as a string of disappointing corporate earnings and a gloomier outlook by the Bank of England dampened sentiment. News of a massive fine in the banking sector also caused blue-chip lenders to fall sharply on London's stock market. The FTSE 1
Read moreInvestec 'agrees with logic' of Barclays fine deferral
12th Nov 2014 12:01
Investec maintained its 'buy' recommendation on Barclays after agreeing with the bank's logic in deciding "not to play" in Wednesday's otherwise predictable "round one" of regulatory settlements for forex rigging. After the UK's Financial Conduct Authority (FCA) and the US's Commodity Futures
Read moreLondon open: FTSE snaps five-day winning streak ahead of Inflation Report, banks fall
12th Nov 2014 08:33
UK stocks declined on Wednesday, snapping a five-day winning streak that sent the FTSE 100 to a six-week high, as investors digested a wave of corporate earnings and awaited the Bank of England's (BoE) Inflation Report. News of a massive fine across the UK banking sector was also dragging high stree
Read moreFCA fines five banks £1.1bn for forex rigging but legal claims could be larger - UPDATE
12th Nov 2014 07:06
The Financial Conduct Authority (FCA) has issued its largest ever fine, slapping a £1.1bn penalty on five banks for rigging forex markets, with Barclays yet to settle, with lawyers also warning that potential further legal action could dwarf these fines. The UK regulator fined Citibank £225.6m, HSBC
Read moreBanks braced for forex rigging fines in UK and US this week
11th Nov 2014 11:25
Banks in the UK are braced to receive between £1bn and £2bn of fines this week for allegedly rigging currency markets, while US regulators are also expected to reach settlements before Friday. Six banks in the UK - Barclays, Citi, HSBC, JPMorgan Chase, the Royal Bank of Scotland and UBS - have confi
Read moreMonday newspaper round-up: Economic recovery, London, Banks
10th Nov 2014 06:46
The economic recovery will continue over the next two years, leading to average wage rises for all workers - not just certain professions - finally outstripping inflation in both 2015 and 2016, according to the employers' organisation the CBI. But the recovery could be put at risk if the eurozone's
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