Wednesday broker round-up UPDATE
13th Feb 2013 07:47
API Group: Numis shifts target price from 70p to 67p downgrading to hold. Barclays: Morgan Stanley raises target price from 386p to 400p keeping an overweight rating. Credit Suisse increases target price from 250p to 290p, while leaving its neutral rating unchanged. JP Morgan ups target price from
Read moreLondon close: Barclays leads stocks higher as risk appetite increases
12th Feb 2013 17:00
Strong gains in the banking sector helped push the FTSE 100 one per cent higher on Tuesday afternoon, as markets welcomed news of a turnaround plan at UK lender Barclays. "European stock markets picked up some pace in Tuesday's session as traders upped their exposure to risk following recent weakne
Read moreFTSE 100 movers: Barclays leaps after results
12th Feb 2013 15:16
UK banking group Barclays was performing well today after releasing the details of its strategic review, which includes 3,700 jobs cuts. Meanwhile, the company said that adjusted profits before tax grew 26% to £7.05bn in 2012, helped by a 46% improvement in Corporate and Investment Banking and 52%
Read moreLondon midday: Banks pull Footsie into positive territory
12th Feb 2013 11:47
Stocks had pulled into positive territory by Tuesday lunchtime helped by strength in the banking sector as full-year results and the outcome of a strategic review at Barclays were well-received by the markets. Providing some support this morning was the news that credit ratings agency Standard & Po
Read moreBroker tips: Barclays, Vodafone, Rolls-Royce
12th Feb 2013 10:59
The long-awaited strategic review at UK banking group Barclays was welcomed by Investec (and the market) on Tuesday, with the broker maintaining its 'buy' rating for the stock. The broker hailed the company's cost performance during the year, specifically the improvement in costs at Barclays Capita
Read moreBarclays boss outlines bank's strategy
12th Feb 2013 10:53
Barclays will focus on becoming the "Go-To" bank but it is realistic about reaching its goals following a challenging year, Chief Executive Officer Antony Jenkins said Tuesday. The Barclays boss outlined the bank's highly-anticipated strategic review in a press conference after the 2012 annual resu
Read moreBroker snap: Investec hails cost-cutting at Barclays
12th Feb 2013 09:13
The long-awaited strategic review at UK banking group Barclays was welcomed by Investec (and the market) on Tuesday, with the broker maintaining its 'buy' rating for the stock. The stock was up 4.46% at 314.95p by 09:24 in morning trade. However, while adjusted profit before tax rose 26% year-on-y
Read moreLondon open: Stocks flat despite banking strength
12th Feb 2013 08:28
UK stocks opened broadly flat on Tuesday morning ahead of some UK inflation data, with markets pausing for breath after a strong rise in the year to date. The FTSE 100 had a subdued day yesterday on the back of a lack of economic news and low trading volumes, partly owing to the closure of Asian ma
Read moreTuesday broker round-up UPDATE
12th Feb 2013 07:24
AMEC: Exane BNP initiates with a target price of 1140p and an underperform rating. Anglo American: Goldman Sachs increases target price from 1500p to 1550p, while keeping a sell recommendation. Barclays: Nomura reiterates reduce. Charles Stanley reiterates hold. Investec reiterates buy, with price
Read moreBarclays unveils plans to cut jobs alongside annual results
12th Feb 2013 06:59
Banking giant Barclays revealed Tuesday it was slashing 3,700 jobs as part of a massive shake-up amid a string of scandals. The cuts include 1,800 in the Corporate and Investment Bank division and 1,900 in Europe Retail and Business Banking which will result in a restructuring charge of about £500
Read moreLondon close: Subdued finish to a quiet day
11th Feb 2013 16:34
The FTSE 100 was swinging between gains and losses for most of Monday's session with markets across Europe lacking direction on a quiet day. "Global markets are trading lower today which may be related to the significant strength within the markets within 2013," said market analyst Craig Erlam from
Read moreTuesday preview: Barclays reveals annual results amid scandals
11th Feb 2013 15:54
All eyes will be on Barclays Tuesday as the bank unveils its full-year results for 2012 in the wake of a string of scandals. The company has been undergoing a massive shake-up under new Chief Executive Officer, Antony Jenkins, who is reportedly slashing about 3,500 jobs from its 23,300-strong workf
Read moreBarclays hit by claims it misled shareholders over Abu Dhabi government investment
11th Feb 2013 14:57
Barclays came under fire again Monday for reportedly misleading shareholders over a three billion-dollar investment by the owner of Manchester City F.C. The news comes in the wake of the bank's £290m fine to UK and US regulators over LIBOR rigging and mis-selling of payment protection insurance.
Read moreLondon midday: Stocks make gains on light volumes
11th Feb 2013 11:31
On a light day for economic data and trading volumes, the FTSE 100 was registering moderate gains by Monday lunchtime. Market strategist Ishaq Siddiqi from ETX Capital said that there was "a lack of direction from Asia overnight" with Japan's Nikkei and Hong Kong's Hang-Seng indices both closed for
Read moreLondon open: Markets lack direction early on
11th Feb 2013 08:37
The FTSE 100 opened flat on Monday morning with volumes thin as Asian markets close for the Lunar New Year holidays. Market strategist Ishaq Siddiqi from ETX Capital said that there was "a lack of direction from Asia overnight" with Japan's Nikkei and Hong Kong's Hang-Seng indices both closed. "At
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