HSBC 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
Read moreFTSE 100 movers: Sky soars on takeover rumours, miners lower
22nd Jun 2015 13:31
London markets rebounded on Monday, buoyed by hopes of a short-term funding deal for Greece and strength in the construction, telecommunications and real estate sectors. As of 2:30 BST, the FTSE 100 was trading 1.39% higher at 6,804. Sky was in demand on rumours that the Murdoch family may be consi
Read moreLondon midday: M&A propels stocks as Greek hopes rise ahead of EU summit
22nd Jun 2015 11:31
Rising hopes over a short-term funding deal for Greece lifted UK stock markets on Monday, with M&A activity providing a further fillip to shares. The FTSE 100 was trading up 1.18% at 6,789.43 by midday, with blue chips Sky and Severn Trent rising strongly on speculation the companies could be bid ta
Read moreHSBC upgraded to 'buy' by Investec
22nd Jun 2015 10:45
Investec upgraded HSBC to 'buy' from 'hold' and raised the price target to 635p from 620p. The broker said HSBC's eagerly-anticipated investor day on 9 June left the market a touch underwhelmed. "We would characterise it as a promise of 'more of the same', i.e. sustained (high-return) growth in Hong
Read moreLondon open: UK stocks surge as Greek hopes rise, Sky jumps
22nd Jun 2015 08:30
UK stocks surged on Monday morning as investors breathed a sigh of relief on the back of rising hopes that Greece is set to secure a short-term deal with creditors. The FTSE 100 was trading up 1.36% at 6,801.41 early on. According to reports, Greece's lenders are working on a deal to extend the cou
Read moreEspirito Santo downgrades HSBC on limited returns potential
18th Jun 2015 16:15
Espirito Santo has lowered its rating for global banking giant HSBC from 'buy' to 'neutral', saying the bank's return on equity (RoE) target for 2017 "remains a challenge". Espirito Santo's BESI Research unit cut its target price on the stock from 770p to 635p, saying the bank is "running to stand s
Read moreTuesday broker round-up
16th Jun 2015 08:49
Imperial Tobacco Group: JP Morgan moves to neutral from not rated with 3,550p target. Credit Suisse reinstates coverage with outperform and 3,600p target. British American Tobacco: Credit Suisse reinstates coverage at outperform with 3,800p target. HSBC: Santander ups to hold. TT Electronics: Bere
Read moreHSBC and JP Morgan to consider moving from UK to Luxembourg
16th Jun 2015 07:12
HSBC and JP Morgan are weighing relocating parts of their businesses from the UK to Luxembourg, given a potential exit of the country from the European Union (EU), The Times reported. Both lenders are also analysing the tougher rules imposed by the EU for conducting business outside of the Eurozone.
Read moreTuesday newspaper round-up: Anthem bids for Cigna, HSBC and JPMorgan, G4S
16th Jun 2015 06:44
"Anthem has started a complex takeover war in the US health insurance industry by making a $45bn approach for Cigna as the sector prepares for a wave of consolidation spurred by the introduction of 'Obamacare'," the Financial Times says. The Times has said that HSBC and JPMorgan are in talks to relo
Read more