London midday: Stocks firmer as policy makers move to buttress growth
7th May 2013 11:49
Investor sentiment seems to have firmed a little in the first half of the session. That comes after a cautious start higher after the long weekend and as traders continued to debate about how much further the current push higher in equity markets has to go. Be that as it may, the latest data from t
Read moreLondon open: Buying interest on the rise in commodity space
7th May 2013 08:40
Investors in London have come back from the long weekend with a slightly cautious attitude, as traders continue to debate whether the current push higher in equity markets will be sustained or not. In that regard, Gary Parkison, from The Times, warns today on the recent sharp rise seen in the numbe
Read moreFriday newspaper round-up: RBS, Barclays, Shell...
3rd May 2013 06:26
"Royal Bank of Scotland is poised to send the clearest signal yet that it is ready for the government to begin reprivatising its majority stake," writes the Financial Times. The paper says that the bank is expected to announce plans for a share sale that could start as soon as next year. According
Read moreBarclays corporate bank needs five years to meet RoE target
2nd May 2013 15:44
Barclays will take another five years to reach its corporate bank's return on equity (RoE) target as bad loans in Spain drag on its performance, according to head of the unit John Winter. The bank is working to achieve a RoE above its cost of equity, which is 11.5%, by 2015. However, Winter said t
Read moreBroker tips: Barclays, Sage, United Utilities
26th Apr 2013 12:49
Tradenext has recommended investors to pick up shares of banking giant Barclays at current levels, highlighting the company's M&A business and 'Transform Programme'. Barclays' shares dipped below 290p on Friday morning after rising to an intraday high of 305p on Wednesday after its first-quarter re
Read moreBroker snap: Tradenext highlights buying opportunity at Barclays
26th Apr 2013 12:31
Tradenext has recommended investors to pick up shares of banking giant Barclays at current levels, highlighting the company's M&A business and 'Transform Programme'. Ronnie Chopra, the Head of Strategy at Tradenext, noted the recent news that Barclays was advising Dish Network on its $22.5bn offer
Read moreFriday newspaper round-up: UKFI, Barclays, Bank of Japan...
26th Apr 2013 06:43
The Telegraph says Jim O'Neil, head of the UK Financial Investments (UKFI) which manages the government's investments in RBS and Lloyds, has resigned, "deal[ing] a blow to the government's hopes of selling the stakes in the near future". Barclays Chairman Sir David Walker promised investors that he
Read moreBarclays pledges higher returns as bonuses are reviewed
25th Apr 2013 11:32
Banking group Barclays has promised to review pay levels and has agreed to implement all the recommendations made by the Salz Review, including working more closely with regulators. At the bank's annual general meeting, new Chairman Sir David Walker said pay at Barclays and in the banking industry
Read moreThursday broker round-up UPDATE
25th Apr 2013 09:07
Barclays: Morgan Stanley lowers target price from 438p to 424p and reiterates an overweight rating. Bellzone Mining: Investec reduces target price from 21p to 5.28p and downgrades to hold. BG Group: Bank of America cuts target price from 1300p to 1250p retaining a neutral rating. Brown (N) Group:
Read moreBroker tips: Barclays, BP, Standard Life
24th Apr 2013 12:08
Canaccord Genuity has kept its 'hold' rating and 280p target price for Barclays, saying that the bank's first-quarter results look 'slightly soft on a first read'. "We don't believe investors can read much into a single quarter of number for any bank, particularly one where a new management team is
Read moreLondon midday: Stocks flat as ECB rate cut speculation ramps up
24th Apr 2013 11:49
Stocks had trimmed gains and were trading broadly flat by Wednesday lunchtime as markets gave a mixed reaction to weak economic data from Germany with traders guessing at whether the figures will prompt the European Central Bank (ECB) to cut interest rates. However, the cautious mood on market this
Read moreBroker snap: Barclays' first quarter looks 'slightly soft', says Canaccord
24th Apr 2013 10:09
Canaccord Genuity has kept its 'hold' rating and 280p target price for Barclays, saying that the bank's first-quarter results look 'slightly soft on a first read'. Revenues came in at £7.73bn in the first three months of the year, slightly below the consensus estimate of £7.801bn, while adjusted pr
Read moreLondon open: Markets extend gains as financial stocks rise
24th Apr 2013 08:20
Strong gains for financial stocks ensured that the FTSE 100 was firmly in positive territory on Wednesday morning, while growing speculation of a rate cut in Europe lifted sentiment. London's benchmark index surged by 2.0% on Tuesday as disappointing purchasing managers' indices from the Eurozone s
Read moreBarclays' profits fall in first quarter
24th Apr 2013 07:04
Barclays unveiled a 25 per cent fall in adjusted pre-tax profit to 1.78bn pounds for the first quarter reflecting the costs of a major restructuring. Chief Executive Antony Jenkins said his so-called 'Transform' strategy to make Barclays the go-to bank cost around £500m as the company worked to r
Read moreWednesday preview: Barclays delivers first-quarter results
23rd Apr 2013 15:02
Barclays will hog the spotlight Wednesday as it unveils its first-quarter results. Analysts at Investec expect the bank to report an adjusted pre-tax profit of £2.1bn or £1.6bn after allowing for the guided £0.5bn restructuring charge. The company has been undergoing a massive reorganisation unde
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