Broker snap: Goldman removes Barclays from 'buy' list
20th Feb 2013 09:16
After a strong performance over the last few months, Barclays has now been removed from Goldman Sachs' Pan-European 'buy' list and is now rated 'neutral' by the US investment banks. Since being added to the 'buy' list back on November 16th 2012, shares in the UK banking group have jumped a whopping
Read moreLondon open: Markets pause after strong gains
20th Feb 2013 08:43
The FTSE 100 opened flat on Wednesday morning following a one per cent surge the day before, as investors awaited announcements from central banks and a number of key economic indicators from around the globe. "After having the strongest day of the year so far, European stock markets are in consoli
Read moreWednesday broker round-up UPDATE
20th Feb 2013 07:04
Amara Mining: Goldman Sachs moves target price from 90p to 55p downgrading to neutral. Aureus Mining: Goldman Sachs revises target price from 65p to 55p retaining a neutral rating. Avocet Mining: Goldman Sachs cuts target price from 55p to 30p and upgrades from sell to neutral. AZ Electronic Mate
Read moreWednesday newspaper round-up: BHP, Sainsbury, Japanese deficit...
20th Feb 2013 06:52
BHP Billiton has named its new chief executive on the same day that it revealed its worst half-year figures for more than a decade. The Australian global mining company has appointed Andrew Mackenzie, the head of its base metals division, to replace Marius Kloppers, who will step down in May. The an
Read moreAviva mandates Barclays to sell Turkish unit, sources say
18th Feb 2013 14:08
Barclays has been ordered to sell the Turkish unit of British insurer Aviva, sources told Reuters on Monday. Aviva mandated the bank to sell the entire unit of its Turkish non-life insurance company Aviva Sigorta. "It's a pretty tough sell as they don't have a banking distribution channel, but the
Read moreHead of investment banking at Barclays says "I'm not going anywhere"
15th Feb 2013 14:30
Rich Ricci, who heads up investment banking at Barclays this week told Financial News that he is "not going anywhere" and gave his full support to Chief Executive Antony Jenkins and his strategy for the investment banking division, where a significant number of jobs are being cut. Ricci also comm
Read moreBroker snap: Investec downgrades Barclays
14th Feb 2013 11:42
Barclays was downgraded to a 'hold' rating by Investec analysts Thursday following the bank's 2012 annual results. "Barclays remains (by far) our preferred UK domestic bank, but we take a breather," Investec broker Ian Gordon said. The comments come after the bank on Tuesday posted its full-year
Read moreThursday broker round-up UPDATE
14th Feb 2013 08:09
African Barrick Gold: Deutsche Bank cuts target price from 410p to 340p, while staying with its hold recommendation. Investec reduces target price from 405p to 315p and downgrades from buy to hold. JP Morgan lowers target price from 370p to 290p and downgrades to underweight. AG Barr: Barclays down
Read moreWednesday 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 more