Broker tips: IAG, GKN, HSBC
1st Mar 2011 13:00
Charles Stanley upgrades its recommendation and target price for International Consolidated Airlines (IAG) as its market value has now factored in the rising prices of crude oil. Since the stock floated on 24 January, formed by the merger of British Airways and Iberia, €1.3bn has been wiped off the
Read moreBroker snap: Growth limited at HSBC
1st Mar 2011 12:00
Nomura keeps a cautious eye on HSBC as revenue growth at the global banking giant has "limited momentum". Analyst Robert Law says that "revenue growth is likely to remain challenged by continued low interest rates, lower Balance Sheet Management (BSM) revenues and the impact of the run-off of non-c
Read moreTuesday tips round-up: HSBC, Senior, Bloomsbury...
1st Mar 2011 06:43
HSBC looks like a good hold with a high dividend yield of 3.9% and a forecast price earnings multiple for 2011 of 11.2. It is true that Asia offers fantastic earnings opportunities, but there are cheaper ways to gain that exposure and with European recovery priced so cheaply at the moment - Lloyds
Read moreTuesday newspaper round-up: Food prices, Libya, Pearson...
1st Mar 2011 06:37
The City watchdog plans to investigate the way in which banks' retail sales forces are rewarded amid fears that some clients are being pushed to buy "inappropriate" products. Lord Turner of Ecchinswell, chairman of the Financial Services Authority, told The Times that he intended to investigate pay
Read moreLondon close: FTSE 100 rally falls short
28th Feb 2011 16:51
The top share index failed to sustain a rally that came on the back of strength in the US and closed a few points lower. A slight easing in the oil price lightened the mood. Crude had edged up in the morning session amid continuing turmoil in Libya and the spread of protests to the Gulf state of Om
Read moreSector movers: HSBC drags banks lower
28th Feb 2011 14:33
The banking sector is lower on the day HSBC released its 2010 full-year results. Shares in the global banking giant are 6% down Monday afternoon following its decision to cut its return on equity target after analysing the likely effects of new banking regulations. Pre-tax profits increased by 169
Read moreLondon afternoon: Footsie waxes as oil price wanes
28th Feb 2011 14:29
Shares staged a recovery over lunch, boosted by indications of a firmer start on Wall Street and a weakening of the oil price. Oil prices had edged up in the morning session amid continuing turmoil in Libya and the spread of protests to the Gulf state of Oman. Brent crude for April delivery was abo
Read moreFTSE 100 movers: ABF warns on consumer demand
28th Feb 2011 13:53
Associated British Foods is leading the market lower. The British Sugar and Primark owner says that its interim figures will be in line with expectations but it warns of weakening UK consumer demand and rising cotton prices hitting margins. HSBC doubled its profits to over $19bn last year but it
Read moreLondon midday: Shares stuck lower
28th Feb 2011 12:05
Shares remain under pressure as the turmoil continues in the Arab world. Company updates have also been given a slightly frosty reception. Oil prices have edged up again amid continuing turmoil in Libya and the spread of protests to the Gulf state of Oman. Brent crude for April delivery was above $
Read moreLondon open: Oil worries hit blue chips
28th Feb 2011 09:02
London has opened lower on fears of unrest contagion in the Middle East and the possible impact that will have on global oil supplies. A cautious trading update from AB Foods and poorly received results from HSBC have added to the poor start. HSBC doubled its profits to over $19bn last year as bad
Read moreHSBC scales back profits target
28th Feb 2011 07:01
HSBC more than doubled its profits to over $19bn (£11.7bn) last year as bad debts tumbled, but the global banking giant has toned down its return on equity target after analysing the likely effects of new banking regulations. The UK's largest bank posted a pre-tax profit of $19.04bn, an increase of
Read moreSunday newspaper round-up: Libya, Oil, HSBC...
27th Feb 2011 11:08
The International Energy Agency, the adviser to developed nations, said this weekend it was ready to dip into emergency stockpiles if the upheaval in the Middle East and North Africa affects oil supplies for a "prolonged" period. Libya shut down 850,000 barrels of production last week ? about 1% of
Read moreWeek Ahead: HSBC, Standard Chartered, Xchanging
25th Feb 2011 11:37
The banking results season comes to a close next week with the two Asia-focused operators, HSBC and Standard Chartered, declaring full year figures. HSBC is first to declare, on Monday. The performance of the Personal Financial Services division is likely to be a highlight, as bad debt write-downs
Read moreBroker tips: Thomas Cook, HSBC, Drax
22nd Feb 2011 13:41
Panmure Gordon has downgraded travel firm Thomas Cook as the broker struggles to identify any near-term catalysts to the share price following the recent turmoil in the Middle East. Thomas Cook noted in its first quarter statement that the political unrest in Tunisia and Egypt would have an impact
Read moreBroker snap: HSBC to face headwinds in 2011
22nd Feb 2011 12:35
Nomura maintains its cautious stance on banking titan HSBC, saying that growth prospects in 2011, which could lead the new management to revise what the broker sees as ambitious growth targets. The lender appears to be facing headwinds to margin and revenue in the 2011 fiscal year given continued b
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