Sunday newspaper round-up: EFSF, Interserve, Iraq, L&G, StanChart
13th Nov 2011 15:35
The Ministry of Defence will this week award contracts worth up to £420m to Interserve to maintain four overseas military bases. The group will provide electrical, mechanical and building services for bases in Cyprus, Ascension Island, Gibraltar and the Falkland Islands, where Prince William is to s
Read moreFTSE 100 Movers: Schroders tops the list
11th Nov 2011 12:30
Schroders was the top riser after Deutsche Bank upgraded the stock to hold from sell, and even though Credit Suisse cut its target to 1,390p from 1,450p. AMEC was also rising after Galvan Research marked the stock out as a buy, saying that it expects the engineering and project management services
Read moreBroker tips: HSBC, AMEC, IMI
11th Nov 2011 10:29
In a stark research note issued this morning, Evolution Securities has reiterated its sell recommendation for banking giant HSBC, saying simply, "HSBC isn't working!" The broker acknowledged that "come rain or shine", HSBC will probably remain a much-loved stock among the London "sell-side": "Never
Read moreDigital Look broker talk
11th Nov 2011 10:15
HSBC: "No matter what happens, come rain or shine, underperforming HSBC will remain a much loved stock among the London sell-side...Never mind the so-called safe haven arguments. There is absolutely no excuse for owning the shares at all" [Evolution Securities]. IMI: "It seems the self-help story
Read moreBroker snap: No excuse to own HSBC shares, says Evolution
11th Nov 2011 09:44
In a stark research note issued this morning, Evolution Securities has reiterated its sell recommendation for banking giant HSBC, saying simply, "HSBC isn't working!" The broker acknowledged that "come rain or shine", HSBC will probably remain a much-loved stock among the London "sell-side": "Never
Read moreMorning broker round-up -UPDATE
11th Nov 2011 08:52
Experian: Nomura raises target price to 910p from 867p before. Schroders: Deutsche Bank upgrades to hold from sell. Schroders: Credit Suisse cuts target to 1,390p from 1,450p. Fenner: Credit Suisse raised target to 415p from 395p. Dart Group: Peel Hunt initiates coverage at buy. Next Fifteen
Read moreBritain facing banking exodus as HSBC and RBS slash jobs
11th Nov 2011 08:29
The Euro debt crisis appears to be forcing banks to accelerate efficiency savings as profits from investment banking dwindles. The Telegraph reports on job cuts at two of the UK's leviathon banks, HSBC and RBS. HSBC has long made it clear that thousands of jobs would go, now according to the Tele
Read moreMorning broker round-up - UPDATE
10th Nov 2011 09:48
Experian: Citi reiterates buy with a target of 940p. Experian: Nomura reiterates buy and 867p target. Experian: Prime Markets confirms buy recommendation and 841p target. Anglo American: Citi keeps buy rating and 3,500p target. Admiral: Credit Suisse downgrades from neutral to underperform, targ
Read moreLondon close: Italian fears spark sell-off
9th Nov 2011 16:30
The top share index in London finished at its lowest levels of the day on Wednesday afternoon, as worries over the dire financial situation in Italy caused a mass sell-off across all European markets. The same worries also dampened sentiment in the US, with the three Wall Street benchmarks dropping
Read moreHSBC tumbles as profits sink - UPDATE
9th Nov 2011 14:24
Shares in banking giant HSBC took a tumble on Wednesday after the firm saw a massive 36% drop in underlying pre-tax profits in the third quarter and warned of "very challenging" global economic conditions. For the three months to the end of September, the figure fell from $4.6bn to $3bn, some 37% b
Read moreLondon midday: Financials take a hit as Italian bond yields jump
9th Nov 2011 12:14
Despite a modest start, the Footsie took a tumble during morning trade and stood at its lowest levels of the day by lunchtime, as the focus turned to Italy's soaring borrowing costs. Financials were leading the decline on the blue chip index. ITALIAN BOND YIELDS KEEP ON RISING Yields on benchmark
Read moreDigital Look broker talk
9th Nov 2011 11:10
Admiral: "Admiral's superior profitability has long been a mystery to us, but it now looks as if the apparently superior risk choice is being unwound... We see this IMS as an admission that Admiral is not immune from market forces and this will disappoint the market, we believe" [Investec]. Tullow
Read moreWednesday broker round-up - UPDATE
9th Nov 2011 09:58
Admiral: Nomura puts buy rating and 1,900p target under review Admiral: Investec keeps sell rating and 843p target. HSBC: Evolutions Securities keeps sell rating and 650p target. British American Tobacco: Alpha Value downgrades to reduce from add. Regus: Credit Suisse upgrades from neutral to o
Read moreLondon open: One in the eye for Admiral
9th Nov 2011 08:56
In keeping with most markets across the globe, London is on the up in the wake of the decision by Italian Prime Minister Silvio Berlusconi to proffer his resignation. Look below the surface, however, and you will see that the top-share index's modest rise is largely due to the strength of mining st
Read moreMassive drop in HSBC profits
9th Nov 2011 07:29
Shares in banking giant HSBC took a tumble on Wednesday after the firm saw a massive 36% drop in underlying pre-tax profits in the third quarter and warned of "very challenging" global economic conditions. For the three months to the end of September, the figure fell from $4.6bn to $3bn, some 37%
Read more