London pre-open: Stocks seen higher on upbeat US cues
3rd May 2016 07:28
(ShareCast News) - London stocks were expected to open in the black on Tuesday, taking their cue from a positive session in the US as traders return to their desks following the long bank holiday weekend. The FTSE 100 was seen opening 28 points higher than Friday's close at 6,270. On the data front
Read moreHSBC profits way ahead of forecasts despite 18% fall
3rd May 2016 06:42
(ShareCast News) - HSBC's first-quarter profits fell 14% compared to last year but was better than analyst forecasts, with chief executive Stuart Gulliver expressed confidence that cost-reduction plans now under way will hit their target by the end of next year. Amid a tough few months for the indus
Read moreSunday newspaper round-up: Sports Direct, BHS, Barclays, Smiths, Cobham
1st May 2016 18:03
(ShareCast News) - Sports Direct boss Mike Ashley has offered to buy collapsed retailer BHS, saving its entire store estate and thousands of jobs. Although the tycoon was unable to agree a deal before administrators were called in last Monday, Ashley confirmed to the Sunday Telegraph: "Any continuin
Read moreSector movers: Banks, engineering stocks lead drop
29th Apr 2016 18:46
(ShareCast News) - Banks weighed on the Footsie at the end of the week as Royal Bank of Scotland flagged to investors the risk that the sale and separation of its Williams&Glyn retail and business bank could take at least another two years. That operation was one of the conditions set by regulators
Read moreFTSE 100 movers: Miners and banks slump but Imperial gains on upgrade
25th Apr 2016 14:05
(ShareCast News) - London's FTSE 100 index was down 0.8% to 6,260.09 in afternoon trading, with miners pacing the decline. Heavily-weighted mining stocks were the worst performers as metals prices slipped, with Anglo American, BHP Billiton, Rio Tinto and Glencore all firmly on the back foot. Standa
Read moreNational Grid hit by jump in UK debt yields
21st Apr 2016 18:38
(ShareCast News) - Public sector net borrowing in the UK only overshot the Chancellor's target for the full fiscal year modestly, analysts said, but that was enough to push sovereign debt yields higher, knocking the likes of National Grid off their perch. Westminster's net cash requirement fell 34.0
Read moreHSBC looking at share buy-back
18th Apr 2016 12:07
(ShareCast News) - HSBC was reported to be looking at possibly buying back shares on Monday. Chief executive of the Canary Wharf-based group Stuart Gulliver told shareholders in Hong Kong of the idea, as the share price of Europe's largest bank slid sharply. Separately, chairman Douglas Flint said
Read moreSunday newspaper round-up: AstraZeneca, Monarch Airlines, HSBC, Opec deal
17th Apr 2016 16:53
(ShareCast News) - AstraZeneca has held talks with US-based rival Medivation that could see it make a $10bn (£7bn) takeover bid, where it will battle France's Sanofi, which had a bid rejected last week, and others. Although oncology drug maker Medivation has been criticised for "price gouging" by Am
Read morePanama Papers: UK regulator reportedly gives banks deadline on reviews
7th Apr 2016 13:38
(ShareCast News) - The UK's Financial Conduct Authority said banks and other financial firms have until next week to carry out urgent reviews of whether they are linked to the law firm at the centre of the Panama Papers data leak, the Financial Times reported. According to a letter seen by the newsp
Read moreHSBC, RBS and Barclays said to plan 400 branch closures this year
6th Apr 2016 14:55
(ShareCast News) - HSBC, Royal Bank of Scotland and Barclays are reportedly set to close 400 UK branches this year. Reuters cited people familiar with the matter as saying that HSBC was set to close the highest number, with about 200 branches this year. That is about a fifth of the bank's UK branche
Read moreThursday newspaper round-up: Steel industry, energy, HSBC
31st Mar 2016 07:24
(ShareCast News) - Tata's board met for seven hours on Tuesday in the company's elegant stone headquarters in central Mumbai but one insider said it was clear what the company had to do. "It was very straightforward, not dramatic," he said, as Tata signalled that, after nine years, several billion p
Read moreJP Morgan prefers StanChart to HSBC
21st Mar 2016 12:45
(ShareCast News) - Shares in StanChart were offering close twice the value of those in HSBC, JP Morgan said, leading it to recommend them to clients over those in rival HSBC. Ongoing pressure on revenues from global markets and Asian wealth management might create downside risk for the sector, b
Read moreNomura downgrades StanChart, HSBC, Barclays
18th Mar 2016 12:12
(ShareCast News) - China's economy was set to slow more sharply than most analysts were expecting, leading to a further devaluation of the country's currency, the yuan, which in turn would weigh on the broader emerging market currency space and business for the likes of HSBC and StanChart, Nomura sa
Read moreTuesday broker round-up
15th Mar 2016 16:46
(ShareCast News) - Virgin Money: Goldman Sachs reiterates neutral with a target price of 450p and Berenberg stays at hold with a 400p target. Gem Diamonds: Panmure Gordon keeps at buy, 181p target and Finncap reiterates buy with a target of 270p. G4S: Credit Suisse reiterates neutral with a target
Read moreCMA extends deadline for retail banking investigation
7th Mar 2016 09:50
(ShareCast News) - The Competition and Markets Authority has decided to extend the deadline for its investigation into the UK retail banking sector, which it believes is not competitive enough. The CMA said the extension to 12 August from May is necessary to allow enough time to take full and proper
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