London midday: Banks lift Footsie on euro optimism
5th Dec 2011 12:00
Hopes that leaders can bring an end to the euro crisis lifted markets on Monday. Many believe that it is now make-or-break time for the single currency, echoing remarks made last week by Economic and Monetary Affairs Commissioner Olli Rehn that the continent had just 10 days to save the euro. The de
Read moreLondon close: Footsie nudges higher, Ecofin meeting eyed
29th Nov 2011 16:37
The FTSE 100 nudged higher in afternoon trading after swinging between gains and losses all day, as some better-than-expected US economic data boosted equities stateside. Lifting sentiment late on was the Conference Board's consumer confidence index which rose from a revised 40.9 in October to 56 t
Read moreLondon midday: Modest gains ahead of Osborne speech
29th Nov 2011 12:01
With US stock futures pointing to a positive start on Wall Street, London's FTSE 100 index reversed its earlier losses to trade modestly in the blue by midday on Tuesday. All eyes have turned to the Chancellor of the Exchequer, ALL EYES ON GEORGE George Osborne is to make his Autumn statement at
Read moreMarkets welcome £200m lifeline for Thomas Cook
28th Nov 2011 07:44
Shares in troubled tour-operator Thomas Cook shot up on Monday morning in reaction news issued late on Friday that the cash-strapped firm has reached an agreement with its bankers to provide the company with a new lending facility. Shares were nearly 50^ in the first half-hour of trading to 27p.
Read moreTuesday broker round-up - UPDATE
22nd Nov 2011 09:34
British Land: Bank of America-Merrill Lynch upgrades to buy from neutral. Centrica: Goldman Sachs keeps at Conviction Buy. Smith&Nephew: Citi cuts target to 492p from 507p, keeps at sell. Smith&Nephew: Citi reiterates neutral. Thomas Cook: Evolution Securities downgrades from neutral to sell, t
Read moreHSBC has made a formal offer for Denizbank, Sky says
22nd Nov 2011 09:12
Some analysts are this morning citing reports out on Sky News that HSBC has made a formal offer for Dexia´s Turkish business, Denizbank, of over 3bn pounds. The possibility also exists, apparently, that HSBC might not buy the whole business, in which case the price would be considerably lower. Tho
Read moreS&P to update ratings for 30 main banks
18th Nov 2011 10:03
Debt ratings agency Standard & Poor's (S&P) plans to update its ratings for the world's thirty largest banks within three weeks, which could lead to some rating cuts, reports broadcaster CNBC. Bank of America, Citigroup and Morgan Stanley are among the banks that could be downgraded, said Baylor La
Read moreSunday 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
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