UBS ups RBS to 'buy' as it re-initiates coverage on UK banks
26th Jan 2016 09:02
(ShareCast News) - UBS re-initiated coverage on the five large UK banks, backed by new models and analytical support. It upgraded Royal Bank of Scotland to 'buy' from 'neutral', cutting the target price to 350p from 363p. UBS argued that until now, the bank's small index weight - 0.6% of the FTSE 1
Read moreLloyds and other lenders set to announce fresh PPI provisions, report claims
25th Jan 2016 10:20
(ShareCast News) - Britain's largest lenders are preparing to set aside billions of more pounds for provisions against the payment protection insurance mis-selling scandal, according to reports over the weekend. Insiders from Barclays, HSBC, Lloyds Banking Group, Royal Bank of Scotland and Santander
Read moreS&P ups view on HSBC Bank's capital, but sees offsetting risks
19th Jan 2016 16:11
(ShareCast News) - HSBC Bank's capital position was set to strengthen as the lender moved to top up its capital cushions, but that improvement would be offset by the greater risks for its investment banking arm should global economic and geopolitical crystalise, Standard&Poor's said. S&P, arguably t
Read moreBroker tips: Tullow Oil, HSBC, Sainsbury's
6th Jan 2016 17:24
(ShareCast News) - Tullow Oil is in a better position than some of its peers to withstand low oil prices thanks to its oil price hedges and current UK corporate tax legislation, a top broker said on Wednesday. Oil exploration and production companies are in a race against time, waiting for low oil p
Read moreFTSE 100 movers: Miners drive down blue chip market
6th Jan 2016 14:59
(ShareCast News) - The FTSE 100 had dropped 86.42 points (1.41%) by mid-afternoon Wednesday, down to 6,050.82 points. Miners were again on the list of risers and fallers for a second day in a row, but this time on the negative side. Anglo American, BHP Billiton, Rio Tinto, Glencore and Antofagasta a
Read moreJPMorgan downgrades HSBC on rising emerging market credit risk
6th Jan 2016 10:14
(ShareCast News) - JPMorgan Cazenove downgraded HSBC to 'underweight' from 'neutral' as it sees the Asia-focused bank underperform peers due to the increasing probability of worsening credit in emerging markets. JPM said it saw valuation downside due to the potential for rising inflows of non-perfor
Read moreTuesday newspaper round-up: HSBC, Sports Direct, Saudi Arabia
5th Jan 2016 07:05
(ShareCast News) - HSBC will not face formal action from the City regulator following revelations that the Swiss arm of Britain's biggest bank helped clients to evade tax. HSBC was engulfed in scandal a year ago when leaked bank account details showed how the bank's Swiss unit helped wealthy custome
Read moreLondon close: Stocks end lower on slump in commodities
30th Dec 2015 16:19
(ShareCast News) - UK stocks slumped on Wednesday as shares in mining and oil producers declined. Oil prices reversed the previous day's gains on concerns about a supply glut after a report showed an unexpected rise in US crude inventories. The Energy Information Administration said US crude invent
Read moreFTSE 100 movers: Worldpay strong but banks out of favour
30th Dec 2015 14:18
(ShareCast News) - London's FTSE 100 was down 0.6% to 6,274.20 at 1425 GMT, giving back some gains following a solid performance in the previous session, in holiday-thinned trade. With volumes low and many traders still away from their desks for the Christmas and New Year holidays, there was no real
Read moreMonday newspaper round-up: Fosun, Rolls-Royce, RBS
14th Dec 2015 07:06
(ShareCast News) - Guo Guangchang, the Chinese tycoon caught up in Beijing's anti-corruption drive, has emerged in public for the first time after four days out of sight while assisting a judicial investigation. Mr Guo appeared on stage on Monday to address an annual internal conference of his compa
Read moreHSBC confirms policy change for top level executive pensions
6th Dec 2015 10:46
(ShareCast News) - High street bank HSBC has confirmed it will change its pension policies to bring them "in line" with other major lenders, following complaints from its biggest investors. The company currently pays its chief executive, chairman and two executive directors 50% of their base salarie
Read moreHSBC to close private banking division in India
27th Nov 2015 10:16
(ShareCast News) - HSBC will shut down its private banking business in India by March of next year with staff moved to the retail bank. "After a strategic review of the global private banking operations in India, we have decided to close the business," a spokesman said on Friday. "This marks furthe
Read moreHeidi Miller to be chair of HSBC North America as Rona Fairhead retires
13th Nov 2015 07:23
(ShareCast News) - HSBC Holdings said on Friday that board member Heidi Miller will become the chair of HSBC North America at the end of the year as Rona Fairhead will be retiring from the role at the bank's 2016 annual general meeting Deputy chairman Simon Robertson will also retire on that day,
Read moreSector movers: Utilities downgraded, banks hit by FSB capital rules
9th Nov 2015 16:05
(ShareCast News) - The utilities sector was the worst performer on Monday, with banks starting well but losing ground and fund managers well bought. Banks got off to a good start early in the session, with Barclays, RBS, HSBC and Standard Chartered all powering higher as, following last week's robus
Read moreFTSE 100 movers: Financial companies' rises offset IHG and utility falls
9th Nov 2015 14:10
(ShareCast News) - The FTSE 100 started the day on a high but slowly started to sink into the red, with the market down 4.22 (0.07%) by mid-afternoon to 6,349.61 despite a strong performance from financials. Aberdeen Asset Management, Standard Chartered, Barclays and HSBC were all boosted by the ri
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