Broker tips: RSA, Glencore, HSBC
22nd Sep 2015 14:20
(ShareCast News) - Deutsche Bank cut its price target on RSA Insurance back to a "fundamental" 430p from 540p on news that Zurich Insurance has ended offer talks with the London-listed insurer. The broker said it's unlikely that any of the European composites will emerge as rival bidders and certain
Read moreFootsie drops sharply, traders point to 'fat finger' error
18th Sep 2015 13:01
(ShareCast News) - Losses on London's top-flight index were being ascribed by some media outfits to a 'fat finger' error or an error in an automated trading system. Shares in BHP Billiton, BP, BT Group, Diageo, HSBC, Wolseley, Vodafone and British American Tobacco were among the affected stocks. Th
Read moreFriday newspaper round-up: HSBC, Ryan Air, Lidl
18th Sep 2015 07:29
(ShareCast News) - HSBC's chairman has suggested the bank could retain its domicile in the UK, as his bank mulls moving its headquarters back to the Far East. Douglas Flint warned that he expected the Black Monday stock market crash, which was sparked in China, would be repeated, and that Britain's
Read moreFriday newspaper round-up: HSBC, Ryan Air, Lidl
18th Sep 2015 07:29
(ShareCast News) - HSBC's chairman has suggested the bank could retain its domicile in the UK, as his bank mulls moving its headquarters back to the Far East. Douglas Flint warned that he expected the Black Monday stock market crash, which was sparked in China, would be repeated, and that Britain's
Read moreBanks' technology investments are not panacea yet, warns Bernstein
14th Sep 2015 10:18
(ShareCast News) - Bernstein warned investors not to expect the rise of financial technology to enable banks to significantly cull branch numbers in coming years, but that substantial changes to the industry are still likely via 'fintech'. Bernstein, whose current stance on UK banks has Royal Bank o
Read moreBroker tips: StanChart, BP, Tullow Oil
10th Sep 2015 16:24
(ShareCast News) - The largest UK banks face several further operational headwinds which the market may not be fully factoring in yet, analysts believe. Foremost among those is the 2018 implementation of the IFRS9 accounting standard regarding provisions, which will be half again as high as IAS39. T
Read moreExane BNP lowers targets across UK banks, except RBS
10th Sep 2015 16:12
(ShareCast News) - The largest UK banks face several further operational headwinds which the market may not be fully factoring in yet, analysts believe. Foremost among those is the 2018 implementation of the IFRS9 accounting standard regarding provisions, which will be half again as high as IAS39. T
Read moreFTSE 100 movers: Financials on a flier as risk-on returns
8th Sep 2015 14:03
(ShareCast News) - The FTSE 100 index built on a strong start on Tuesday, rising 1.5% to 6,162.86 points by mid-afternoon with the financial sector leading the charge. Pensions and investment company Hargreaves Lansdown, which is due to publish results on Wednesday, and Aberdeen Asset Management tus
Read moreBank surcharge forecasts "vastly understate" pain on sector, says EY
7th Sep 2015 13:30
(ShareCast News) - The banking sector will have to pay out vastly more than expected from George Osborne's new profits surcharge, which was introduced to reduce the pain of the Bank Levy on lenders such as HSBC. When the Chancellor unveiled the new 8% surcharge on bank profits and plans to lower the
Read moreHSBC's British branches to be rebranded HSBC UK in 2018
3rd Sep 2015 11:11
(ShareCast News) - Banking giant HSBC will rebrand its British branches as HSBC UK from 2018. According to Sky News, the FTSE 100 group announced the decision to thousands of its UK-based employees on Thursday, ahead of an official announcement. The new name will be displayed across HSBC's branches
Read moreHSBC to probe Bacs issues as payments are held up
28th Aug 2015 11:10
(ShareCast News) - Banking giant HSBC said it will investigate the issues that led to a number of payments being held up on Friday. The FTSE 100 group said the problems were thought to be linked with the national Bacs system, which processes up to £50bn every day and plays a crucial part in Britain'
Read moreRBS, Barclays and HSBC among nine banks to settle forex-rigging claims
14th Aug 2015 14:52
(ShareCast News) - HSBC, Barclays and Royal Bank of Scotland are among nine banks that have agreed a settlement with US investors over foreign exchange rate rigging claims, with litigation continuing a group of 12 others that includes Standard Chartered. UBS, Citibank, Goldman Sachs, BNP Paribas, Ba
Read moreBank of Communications to allow HSBC appoint Vice Chairman
10th Aug 2015 11:51
(ShareCast News) - China's Bank of Communications (BoCom) will allow HSBC Holdings to name a vice chairman for its board amid a restructuring of its ownership. The move comes part of the the Shanghai-based bank's plan to give private capital a bigger role, people familiar with the matter told Bloomb
Read moreLondon pre-open: Europe likely to follow the US lower
4th Aug 2015 08:07
(ShareCast News) - City sources predict the FTSE 100 will open 25 points lower than Monday's close of 6,688.62. Overnight markets were mixed with the US down and Asia up, but Europe has followed the US, London Capital Group night editor Jonathan Sudaria said. "Gains in Asia, and in particular
Read moreLondon close: Weak China and US PMIs send FTSE lower
3rd Aug 2015 17:08
(ShareCast News) - Worse-than-expected manufacturing data in the US and China sent the FTSE lower at close on Monday. China's Caixin purchasing managers' index (PMI) on manufacturing activity, which was previously sponsored by HSBC, declined to a two-year low of 47.7 from June's 49.4 on a 100-point
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