Barclays 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
Read moreLondon close: Gains erased as US data disappoints
22nd Apr 2013 16:21
After a strong start, the FTSE 100 slumped into the red by the close on Monday afternoon as disappointing data and corporate earnings from the US dampened the positive mood. Nevertheless, markets on the whole gave a rather muted reaction to Friday's move by Fitch to strip the UK of it prized 'AAA'
Read moreFTSE 100 movers: Randgold Resources jumps higher
22nd Apr 2013 16:04
Randgold Resources was a strong riser - particularly compared to the rest of its sector - gaining after Blackrock upped its stake in the group to 14.1 per cent, marginally higher than the 14 per cent it previously owned. An increase in risk appetite was benefiting financial stocks today with banki
Read moreSector movers: Banks edge higher ahead of results season
22nd Apr 2013 15:21
Banking stocks were performing well on Monday, rebounding after bearing the brunt of falling risk appetite over the last week. Concerns about the global growth weighed on markets heavily last week after a slowdown in China and cuts to forecasts from the International Monetary Fund dampened the econ
Read moreLondon midday: Banks provide a lift as markets shrug off UK downgrade
22nd Apr 2013 11:20
Markets were making decent gains on Monday morning, shrugging off the news that Fitch had stripped the UK of it prized 'AAA' credit rating, as investors went bargain hunting following some heavy falls the week before. Despite trimming losses after a decent rebound on Friday, the FTSE 100 still fell
Read moreLondon open: Financials lead markets higher early on
22nd Apr 2013 08:16
Equities were making decent gains on Monday morning with financial stocks on the rise in London as markets attempted to claw their way back from heavy losses last week. The FTSE 100 fell a total of 97.8 points last week, losing 1.53% of its value, as concerns about global economic growth and a sell
Read moreFriday newspaper round-up: Vodafone, Aviva, Vedanta...
19th Apr 2013 06:55
"One of the biggest corporate deals in history edged closer yesterday after Verizon said that it was 'extremely confident' it could buy Vodafone's stake in North America's largest mobile network without triggering a huge tax bill," The Times says. Vodafone owns a 45 per cent stake in Verizon Wireles
Read moreFTSE 100 movers: GSK rises on COPD treatment approval
18th Apr 2013 14:59
Shares in pharmaceuticals giant GlaxoSmithKline gained after the the US FDA approved Breo Ellipta, the company's treatment for chronic obstructive pulmonary disease (COPD). "This positive recommendation is a crucial first step towards making Breo Ellipta available for appropriate COPD patients acros
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