Wednesday 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:
Read moreLondon midday: Miners drag markets lower after Chinese data
10th Jul 2013 11:33
The FTSE 100 had slipped into the red on Wednesday morning with markets turning cautious ahead of a statement from the Federal Reserve, hoping for indications of when the central bank will begin to taper stimulus. Disappointing trade figures from China were also weighing on sentiment today, pressur
Read moreMoody's upgrades UK banking sector
10th Jul 2013 10:24
Moody's has changed its outlook on the UK banking system to 'stable' from 'negative' to reflect Britain's improved economic prospects. The ratings agency said the more stable UK economy had improved the outlook for borrowers being able to repay debts. There were also encouraging signs for profitabi
Read moreLondon midday: Banks, miners lead markets higher
9th Jul 2013 11:30
Improved appetite for risk helped equities in the banking and mining sectors on Tuesday morning, pushing the FTSE 100 to levels not seen in over a month. London's benchmark index was trading at around 6,500 this morning, a mark not reached since the start of June when markets were beginning to pric
Read moreLondon open: Miners give markets a boost
9th Jul 2013 08:29
Strong gains from mining and banking stocks ensured a strong open for the FTSE 100 on Tuesday morning as sentiment was lifted by improving hopes for the US economy and a bailout deal in Greece. London's benchmark index opened over one per cent higher early on advancing past 6,500, a level not seen
Read moreOsborne endorses proposals to raise banking standards
8th Jul 2013 13:05
UK Chancellor George Osborne on Monday endorsed plans to crack down on banking standards with a set of strict new rules. He said he intends to implement the main proposals from Britain's Parliamentary Commission on Banking Standards (PCBS), including rules that would see senior bankers face jail t
Read moreBarclays' downgrade confirmed bank's risks
5th Jul 2013 10:31
Just when things had started looking up for Barclays, along came Standard & Poor's and cut the bank's credit rating. S&P said the move, announced late on July 2nd, reflected the size of Barclays' investment banking arm and the increased risks faced by that business. The main threats, S&P said, are
Read moreFriday broker round-up UPDATE
5th Jul 2013 08:09
African Barrick Gold: Nomura lowers target price from 200p to 155p, while upgrading from reduce to buy. Barclays: Bank of America reduces target price from 410p to 370p, while leaving its buy recommendation unchanged. BHP Billiton: Investec ups target price from 1919p to 1926p maintaining a buy re
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