FTSE 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 moreHSBC reportedly looking to sell Turkish ops to Bahraini lender
12th Jun 2015 08:39
HSBC is reportedly in talks to sell its Turkish operations to Bahrain's Arab Banking Corporation as it accelerates a restructuring that could have significant implications for the bank. According to Sky News, ABC has emerged as a leading contender to buy the nearly 300 branches which comprise HSBC's
Read moreGradual relaxation of the UK bank levy still likely, says Nomura
11th Jun 2015 09:56
Although Chancellor George Osborne was noticeably silent on the matter of the UK bank levy on Wednesday, Nomura still expects to see a gradual relaxation. "With a majority Tory government now in place, we expect a gradual relaxation of the UK bank levy over time," it said. Nomura said it suspects t
Read moreBroker tips: HSBC, Cairn Energy, Taylor Wimpey
10th Jun 2015 12:18
Far from setting out a bold revamp of its strategy, HSBC is bent on 'defending the Empire', which may lead to its loss, a leading broker said. The lender's investor update published on 9 June revealed how management continues to underestimate the negatives of running a complex global universal banki
Read moreMacquarie sees medium-term risks to HSBC's dividend pay-out
10th Jun 2015 10:10
Far from setting out a bold revamp of its strategy, HSBC is bent on 'defending the Empire', which may lead to its loss, a leading broker said. Adapt or die? The lender's investor update published on 9 June revealed how management continues to underestimate the negatives of running a complex global
Read moreLondon close: Stocks shake off worries, close off lows
9th Jun 2015 16:38
London stocks managed to finish the session above their worst levels of the day as Wall Street fought to break a three day losing streak, although worries regarding the situation in Greece and the recent selling in German sovereign debt markets continued to weigh on sentiment. The Footsie ended the
Read moreFTSE 100 movers: HSBC dips on cuts and closures, miners lower
9th Jun 2015 13:17
UK stocks were slightly lower on Tuesday, as fragile negotiations between Greece and its creditors weighed on investors' risk appetites. Sector-wise, industrial metals, oil and telecommunications stocks provided the biggest drag. As of 14:30 BST, the FTSE 100 was trading 0.16% lower at 6,779. HSBC
Read moreLondon midday: Stocks knocked lower by Greek worries, Chinese data
9th Jun 2015 12:14
London stocks registered early gains although traders were still treading cautiously given the delicate state of the negotiations between Greece and its creditors. As of 12:20 the Footsie was lower by 19.89 points or 0.29% to 6,773.54 points. In parallel, Germany's Dax could be seen lower by 1.30% t
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