London close: Higher finish amid euro optimism
14th Oct 2011 16:46
The top share index closed off earlier highs but still buoyant ahead of the weekend amid optimism after Thursday's vote by Slovakia to expand the Eurozone' rescue fund lifted sentiment. After the close last night, the expansion of Eurozone's rescue fund, the European Financial Stability Fund (EFSF
Read moreLondon midday: Stocks rise after Slovak vote
14th Oct 2011 12:18
The top share index is buoyant after Thursday's vote by Slovakia to expand the Eurozone' rescue fund lifted sentiment. After the close last night, the expansion of Eurozone's rescue fund, the European Financial Stability Fund (EFSF), was approved by Slovak MPs, two days after they voted against the
Read moreLondon open: Footsie flat early on
14th Oct 2011 08:35
The Footsie has opened flat despite expectations that Thursday's vote by Slovakia to expand the Eurozone' rescue fund would give a boost to equities early on. After the close last night, the expansion of Eurozone's rescue fund, the European Financial Stability Fund (EFSF), was approved by Slovak MP
Read moreUPDATE: Fitch could downgrade UK banks today, says Sky News
13th Oct 2011 11:17
The banks tumbled lower late Thursday morning - despite rising earlier on - on the back of reports that Fitch could cut ratings across sector. Barclays was the heaviest faller, losing over 4% as of 11:48, while HSBC and Lloyds were also under the cosh. "The credit ratings agency Fitch is poised to
Read moreKDB Financial to buy HSBC assets
10th Oct 2011 15:41
South Korean government-owned KDB Financial Group is in talks to buy HSBC´s South Korean retail banking operations, people familiar with the situation said Monday, in the latest move in the U.K. bank's retreat from retail businesses that lack scale, according to Dow Jones Newswires. As of 3:40PM sh
Read moreRBS and 11 other banks hit by downgrade
7th Oct 2011 08:24
UK bank stocks have been hit following a downgrade to 12 financial institutions by the credit ratings agency Moody's. Lloyds TSB, Santander UK and the Co-Operative Bank were downgraded one notch, while Nationwide and RBS went down two levels. Smaller institutions, including Clydesdale Bank were al
Read moreLondon midday: Footsie up 2% as BoE injects more money
6th Oct 2011 12:07
The Footsie has held onto gains following the Bank of England's surprise move to increase its asset purchase programme by a bigger-than-expected £75bn. In an announcement at midday, the central bank revealed that it has maintained its key Bank Rate at the historically low level of 0.5%, but raised
Read moreHSBC to sell $1bn in assets
6th Oct 2011 10:53
HSBC has approached the top three property-and-casualty insurers in Japan about the sale of its non-life insurance business, which could fetch more than $1 billion, sources close to the matter said on Thursday, reports Reuters. AB
Read moreBroker tips: HSBC, Standard Chartered, Man Group, Ferrexpo
29th Sep 2011 12:09
UBS has cuts its target prices on the Asian-exposed banks HSBC and Standard Chartered, but it is concerns in Europe rather than Asia that concern the broker in both cases. It lowers its target price on HSBC to 530p from 545p, while keeping its "neutral" rating on the bank, after shaving its earning
Read moreBroker snap: UBS cuts HSBC and Standard Chartered price targets
29th Sep 2011 11:48
UBS has cut its target prices on the Asian-exposed banks HSBC and Standard Chartered, but it is concerns in Europe rather than Asia that concern the broker in both cases. It lowers its target price on HSBC to 530p from 545p, while keeping its "neutral" rating on the bank, after shaving its earnings
Read moreUPDATE: Broker tip round-up
29th Sep 2011 11:47
J.P.Morgan initiates coverage of International Airlines Group at 'overperform'. Citi reiterates 'buy' on Icap. Citi retains 'sell' on Homestore. Goldman Sachs 'upgrades' Kazakhmys to 'buy' from 'neutral'. Goldman Sachs downgrades Antofagasta to 'neutral' from 'buy'. Goldman Sachs upgrades Fi
Read moreUPDATE: Friday broker round-up
23rd Sep 2011 09:42
Tesco: Evolution upgrades from sell to neutral. Tesco: Nomura keeps its buy recommendation. Kingfisher: Nomura reiterates buy rating. Carnival: Charles Stanley keeps accumulate rating. HSBC: Evolution Securities maintains sell rating. Euromoney Institutional Investor: Investec retains buy rati
Read moreLondon close: Footsie jumps on euro hopes
15th Sep 2011 16:27
After an already strong start to trading on Thursday on the back of a Franco-German statement on Greece, markets across Europe surged following a European Central Bank (ECB) announcement in mid-afternoon, helping the Footsie in London finish over 2% higher. Early on, investors celebrated last night
Read moreBroker tips: UK banks, GKN, Kingfisher
15th Sep 2011 12:47
Nomura has upgraded banking giants HSBC and Barclays to buy, but downgraded Lloyds to neutral, after assessing the Independent Commission on Banking (ICB) report and Eurozone risks. "In our view, [HSBC's] relative performance will depend on risk appetite and in particular sentiment towards official
Read moreBroker snap: Nomura upgrades HSBC and Barclays, downgrades Lloyds
15th Sep 2011 12:14
Nomura has upgraded banking giants HSBC and Barclays to buy, but downgraded Lloyds to neutral, after assessing the Independent Commission on Banking (ICB) report and Eurozone risks. "The publication of the final ICB report reduces some of the uncertainty facing UK banks, although at the expense of
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