Broker tips: Banks, Chemring, DCC
19th Jul 2013 11:25
Investec has downgraded its ratings for banking peer HSBC and RBS from 'buy' to 'hold' in separate research reports, reiterating its preference for rival Barclays. The broker pointed out that HSBC has marginally outperformed the FTSE 100 so far this year and now trades within just 4.0% of its 57-mo
Read moreBroker snap: Investec downgrades ratings for HSBC and RBS
19th Jul 2013 10:19
Investec has downgraded its ratings for banking peer HSBC and RBS from 'buy' to 'hold' in separate research reports, reiterating its preference for rival Barclays. HSBC Analyst Ian Gordon said that while HSBC is not overtly expensive, consensus forecasts for the dividend have "now caught up with o
Read moreAbu Dhabi Shiekh sells stake in Barclays
19th Jul 2013 10:12
Abu Dhabi's Sheikh Mansour bin Zayed Al Nahyan, who helped bailout Barclays with a 3.5bn pound investment during the worst of the financial crisis, has sold its stake in the British lender. The Sheikh's PCP Gulf Invest 3 liquidated its 758.4m Barclays shares, which represent 7.0% of the bank, as of
Read moreFriday newspaper round-up: Barclays, FCA, Google
19th Jul 2013 06:52
The Abu Dhabi sheikh who helped bail out Barclays Bank with a 3.5bn pound investment at the height of the financial crisis, has sold his interest in the UK bank, the Financial Times reported. Martin Wheatley, Chief Executive of the Financial Conduct Authority, said he doubts the planned criminal o
Read moreMortgage lending highest since financial meltdown
18th Jul 2013 13:12
Mortgage lending has reached a level not seen since the financial system's near-collapse triggered the global recession. Gross mortgage lending in June rose 2.0% to £15bn, the Council of Mortgage Lenders (CML) said. Lending was up 26% from a year earlier. The total is the highest since October 200
Read moreThursday tips round-up: Severn Trent, Smiths Group, Barclays
18th Jul 2013 06:36
Severn Trent's stocks have plunged since rebuffing a potential bid by Long River Partners, a consortium led by Borealis Infrastructure Management, which offered £21.25 a share for the group last month. The offer was at a premium of about 28 per cent to the group's regulatory asset base (RAB), which
Read moreBarclays to contest fine for rigging US energy prices
17th Jul 2013 08:35
Barclays says it will contest a fine of 453m dollars levied on the bank and its traders for manipulating energy prices in the US from 2006 to 2008. The record penalty, equal to £298m, outstrips the total of $360m Barclays was fined in the US last year for rigging the inter-bank lending rate. The F
Read moreWednesday newspaper round-up: Barclays, BoE, UK water
17th Jul 2013 06:43
Barclays has been hit with a record $470m penalty from US Federal Energy Regulatory Commission for manipulating power prices, the Financial Times revealed. The Bank of England's Executive Director for markets, Paul Fisher has told MPs that a quantitative easing programme may have been manipulated
Read moreBarclays names Morzaria new Finance Director
16th Jul 2013 11:32
Barclays today named Tushar Morzaria as its new Finance Director replacing Chris Lucas who announced his intention to retire in February. Morzaria is expected to start work at Barclays in the autumn and he will join the board an Executive Director at the start of next year. "This will allow for an
Read moreLondon midday: Banks, miners provide a lift after China data
15th Jul 2013 11:42
Cyclical stocks welcomed in-line gross domestic product (GDP) figures from China on Monday morning with the FTSE 100 nearly hitting seven-week highs early on. London's benchmark index started the new week trading near the 6,600 level; the last time the FTSE 100 closed higher was on May 30th. Gains
Read moreSunday newspaper round-up: ITEM Club, Morrison, Invensys
14th Jul 2013 14:11
When it issues its summer report, tomorrow, top economic forecaster ITEM Club will argue the economic recovery is real and solid and forecast that exports could jump by almost 5 per cent in 2014. The Club, which is independent, but bases its forecasts on the Treasury's own economic model, will predi
Read moreFTSE 100 movers: Aberdeen, Resolution lead financials higher
12th Jul 2013 14:08
Financial stocks were performing well on Friday with asset manager Aberdeen and insurance group Resolution leading the way after positive comments from analysts. UBS reiterated its 'buy' rating for Aberdeen and added the stock to its 'most preferred' list, saying that the recent share price falls h
Read moreLondon midday: Markets extend gains despite concerns over China
12th Jul 2013 12:11
Strong gains in the financial sectors were lifting markets higher on Friday despite concerns over a slowdown in China, as investors continued to focus on dovish comments from Federal Reserve Chairman Ben Bernanke. Stock futures on Wall Street were pointing to a positive start on Friday, extending g
Read moreLondon open: Markets extend gains after record highs on Wall Street
12th Jul 2013 08:51
Markets looked set to end the week on a high note with financial stocks lifting the FTSE 100 higher in early trading on Friday, as sentiment was buoyed by record highs on Wall Street last night. Both the Dow Jones and S&P 500 indices closed at their highest ever levels on Thursday, while the Nasdaq
Read moreFriday broker round-up UPDATE
12th Jul 2013 08:11
Ashmore Group: Morgan Stanley cuts target price from 444p to 420p and leaves its equal-weight rating unchanged. JP Morgan ups target price from 339p to 377p maintaining a neutral rating. AstraZeneca: Jefferies reduces target price from 3560p to 3400p, while keeping its hold recommendation. Aviva:
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