Goldman 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
Read moreHSBC highlights upside at Tesco, stays at 'buy'
30th Jun 2015 10:48
HSBC has reiterated its 'buy' recommendation on Tesco, saying that the supermarket group is likely to be the preferred choice of suppliers across the grocery industry. The bank highlighted that Tesco is the fastest-growing retailer for many suppliers with 2.5% total volume growth. It is not growing
Read moreBroker tips: HSBC, Compass, Foxtons, Standard Life
30th Jun 2015 10:37
Goldman Sachs has removed banking giant HSBC from its 'conviction buy' list and cut its recommendation on the stock to 'neutral', slashing its target price from 760p to 690p. Goldman said its investment case on HSBC was predicated on a strategic shift towards geographic streamlining and meaningful i
Read moreGoldman downgrades HSBC to 'neutral', slashes target price
30th Jun 2015 09:50
Goldman Sachs has removed banking giant HSBC from its 'conviction buy' list and cut its recommendation on the stock to 'neutral', slashing its target price from 760p to 690p. Goldman said its investment case on HSBC was predicated on a strategic shift towards geographic streamlining and meaningful i
Read moreLondon open: FTSE drops to January lows on Grexit fears
30th Jun 2015 08:48
UK stocks were trading at levels not seen since the start of the year on Tuesday morning as fears about a Greek exit from the Eurozone intensified. With Greece's current bailout set to expire on the same day that Athens faces a debt repayment to the IMF, investors were once again scaling back their
Read moreFTSE 100 movers: Financials and travel stocks plunge, gold miners higher
29th Jun 2015 13:19
UK markets plummeted on Monday, as Greece closed its banks and called a public vote to determine its future within the Eurozone. With just seven stocks on the FTSE 100 in positive territory, the UK index was down 1.5% at 6,655 as of 14:30 BST. Travel tour operator TUI dropped sharply as investors e
Read moreMonday newspaper round-up: Greece, UK banks, Samsung Bioepis
29th Jun 2015 06:46
Greece has temporarily shut down its banks and suspended trading on its stock market after the collapse of talks between Athens and its lenders and the ECB's decision to freeze life support for Greek banks, reports The Telegraph. An annual survey of the world's top 1,000 banks by The Banker has show
Read moreTuesday share tips: UK banks, Severn Trent
23rd Jun 2015 16:20
Banks may not be happy with the new 'ring-fencing' rules, but just a decade on from the financial crisis they need to learn live with them. Legislation passed in 2013 set out the need for lenders to separate their retail and small business operations by 2019. The aim was to avoid banks using retail
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