Broker tips: HSBC, Prudential, Experian, Sports Direct
20th Jul 2015 11:41
(ShareCast News) - Citigroup upgraded HSBC to 'buy' from 'neutral' and lifted the price target to 635p from 625p, noting that the stock is trading close to the low end of its valuation range over the past five and 10 years. "Reflecting the improvement to capital ratios from upcoming divestments and
Read moreCitigroup upgrades HSBC to 'buy'
20th Jul 2015 10:10
(ShareCast News) - Citigroup upgraded HSBC to 'buy' from 'neutral' and lifted the price target to 635p from 625p, noting that the stock is trading close to the low end of its valuation range over the past five and 10 years. "Reflecting the improvement to capital ratios from upcoming divestments and
Read moreApple Pay debuts in UK
14th Jul 2015 13:35
(ShareCast News) - Apple introduced its Apple Pay app in the UK on Tuesday, after the company unveiled in June its plans to launch the service in the country this summer. The new service allows users to pay at more than 250,000 businesses including Tube stations, coffee shops, supermarkets and trave
Read moreIngenious, HSBC, UBS and Coutts sued by 'tax avoidance' clients
13th Jul 2015 12:26
(ShareCast News) - Private client banks such as Royal Bank of Scotland's Coutts, HSBC and UBS have been sued by clients for wrongly advising them to invest in film investment specialist Ingenious as its schemes have since been labelled by tax authorities as tax-avoidance vehicles. Ingenious Media an
Read moreUK Chancellor George Osborne to cut bank levy
8th Jul 2015 13:04
In the first Conservative Budget since 1996, Chancellor George Osborne announced that the bank levy rate will be gradually reduced over the next six years and a new 8% surcharge on bank profits will be introduced from January 2016. After that, Osborne said he will ensure the levy no longer applies t
Read moreLondon open: Stocks rise ahead of budget, but China and Greece a concern
8th Jul 2015 09:12
London stocks bounced slightly on Wednesday after settling at their lowest in nearly six months, though gains were modest as investors focused on a sell-off in China overnight, the upcoming UK budget and news flow on Greece. The FTSE 100 was up 0.38% at 6,456.90 early on, after settling at 6,432.21
Read more6 HSBC workers fired for mock IS beheading
7th Jul 2015 14:44
Six HSBC workers were fired on Monday for pretending to be Islamic State (IS) militants carrying out a beheading. The seven-second video showing a man dressed in an orange jumpsuit and five other men around him, one of them holding a fake knife, was filmed during a team-building exercise and posted
Read moreGoldman Sachs expects rethink on bank levy in UK Budget
7th Jul 2015 12:43
Ahead of Chancellor George Osborne's Budget on Wednesday, here's a round-up of what Goldman Sachs expects. For UK banks, attention will be focused on any potential reform of the bank levy, as Osborne did not discuss it in his Mansion House speech in June, despite prior speculation. Goldman does not
Read moreING closing in on HSBC's Turkish assets, reports say
6th Jul 2015 13:06
Dutch bank ING is close to a takeover of HSBC's assets in Turkey, reports said on Monday. ING entered exclusive talks with HSBC after some bidders dropped out to focus on the purchase of National Bank of Greece's Finansbank, the Financial Times reported. Last Thursday, Reuters reported ING was HSBC
Read moreLondon open: Stocks slump as Greece votes 'no', Rolls-Royce sinks after profit warning
6th Jul 2015 09:08
UK stocks slumped into the red on Monday morning after the Greek public pushed the country into unchartered territory by voting a resounding 'no' to creditors' bailout proposals. Some 61.3% of the Greeks voted 'no' against 38.7% who voted 'yes'. "Considering that creditors insisted that [the refere
Read moreLondon close: Stocks fall as traders take profits ahead of Greek referendum
3rd Jul 2015 16:31
UK stocks finished firmly lower on Friday as investors showed their nerves ahead of a pivotal weekend for Greece as the public votes on creditors' bailout proposals. With the result of the referendum apparently too close to call and reports claiming that Greek banks were beginning to run out of mone
Read moreBrazil probes 15 banks over alleged exchange-rate manipulation
3rd Jul 2015 14:16
Banking stocks fell on Friday after Brazil's antitrust agency accused 15 banks of rigging the Brazilian currency. CADE is investigating banks such as HSBC, Barclays, Deutsche Bank and Standard Chartered over suspicions they worked together to manipulate the exchange rate of the real, deterring compe
Read moreING reportedly set to win auction for HSBC's Turkish business
2nd Jul 2015 13:10
Dutch lender ING Group is reportedly set to win the auction to buy HSBC's Turkish business. Reuters cited four people close to the matter as saying that the bank had narrowed down the field to one suitor, with two sources saying that it was ING, although a deal is yet to be finalised. ING, which al
Read moreFTSE 100 movers: Travel stocks rebound, but supermarkets dip on Kantar data
30th Jun 2015 13:06
UK stocks extended losses on Tuesday, as the recovery in travel stocks was offset by weakness in supermarkets and miners. As of 14:30 BST, the FTSE 100 was trading 0.6% lower at 6,583. Travel stocks including TUI, Easyjet and IAG rebounded from Monday's losses, which followed disruption to tourism
Read moreLondon midday: Stocks pare losses as investors hope for last-minute Greek deal
30th Jun 2015 11:05
UK stocks were trading in the red again on Tuesday, but had bounced off their lows by lunchtime as investors digested the latest news flow from Greece. The FTSE 100 was trading 0.6% lower at 6,583.15 by midday, having bounced off an intraday low of 6,540.52 early on. The index has not closed below t
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