London 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 moreWednesday preview: HSBC, Sainsbury
8th Nov 2011 18:11
It is another frantically busy day for company results on Wednesday, with Britain's second biggest company by market value, HSBC, keeping the banking results season ticking over while supermarket chain Sainsbury provides another opportunity to take the temperature of the UK high street. Nomura Secu
Read moreBroker tips: Reckitt Benckiser, HSBC, Weir
8th Nov 2011 14:01
Popular perceptions of Reckitt Benckiser's growth model are mistaken and there are other factors which favour the stock going forward relative to its peers, according to Nomura. Whereas many see the household goods maker as excessively exposed to Western Europe and North America, along with too muc
Read moreBroker snap: HSBC no temptation for Credit Suisse
8th Nov 2011 13:37
Britain's biggest bank, HSBC, is valued fairly at around its current 540p level according to analysts at Credit Suisse. The market is readying itself for HSBC third quarter results tomorrow as investors continue to fret about the European banking system. Credit Suisse (CS) is lowering its underlyi
Read moreLondon close: Choppy FTSE 100 closes lower
28th Oct 2011 17:08
Shares finished slightly lower after a quiet day on the company news front, giving traders a chance to sit back and appraise the latest developments in the Eurozone saga. Stock markets across the globe surged higher yesterday, with the three US benchmarks rising by an average 3% last night after le
Read moreFTSE 100 Movers: Bank investors loose enthusiasm
28th Oct 2011 13:17
ITV was on the up after RBS reiterated its "buy" hold on the stock. Meanwhile, International Consolidated Airlines dipped following a target price cut from UBS from 260p to 240p. Barclays was also falling despite an upgrade from J.P.Morgan from neutral to overweight and a "buy" reiteration from
Read moreLondon midday: Pause for breath after euro boost
28th Oct 2011 12:01
Shares are still flat amid a quiet day on the company news front, giving traders a chance to sit back and appraise the latest developments in the Eurozone saga. SUBDUED START AFTER YESTERDAY'S SURGE Stock markets across the globe surged higher yesterday, with the three US benchmarks rising by an a
Read moreUPDATE: Friday broker round-up
28th Oct 2011 09:13
HSBC/Standard Chartered: Citi chief economist William Buiter argues today that: "World trade is set for a prolonged boom and a marked transformation. Transaction banking and trade finance should track the direction of trade and economic growth in the long term. (...) Standard Chartered and HSBC shou
Read moreLondon open: Flat start for the Footsie
28th Oct 2011 08:40
The FTSE 100 opened flat on Friday morning following yesterday's massive 2.9% gain on the back of strong US economic data and the pivotal Eurozone agreements announced yesterday. SUBDUED START AFTER STRONG DAY ON THURSDAY Stock markets across the globe surged higher yesterday, with the three US b
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