London open: FTSE pulls back from all-time high as mining stocks decline
13th Apr 2015 08:22
London's FTSE 100 retreated from a fresh record on Monday morning as investors took profits ahead of a busy week for global financial markets, with shares in the mining sector in particular under pressure. The Footsie was trading 0.24% lower at 7,072.78 early on after settling at a new all-time clos
Read moreFriday tips round-up: UK Banks, Cranswick
10th Apr 2015 17:27
The loan loss ratio for UK banks stood at 0.14% at the end of 2014 according to Standard&Poor's, versus 0.69% in 2013 - a rare positive for the sector. It is a reflection of faster economic growth, low interest rates, higher property prices, banks' sale of dodgy property loans, lending deemed proble
Read moreHSBC's Swiss arm to face French criminal investigation
9th Apr 2015 14:24
The Swiss private banking arm of HSBC has been placed under a formal criminal investigation by French magistrates over alleged tax-related offences. In a statement to the London Stock Exchange, the bank said the formal criminal investigation had been initiated in connection with the conduct of its S
Read moreSome investors think HSBC should reconsider UK domicile
7th Apr 2015 13:13
Some of HSBC's largest shareholders are pressing for the bank to reconsider the costs of being domiciled in the UK, according to a report. That follows a promise repeated on Tuesday by Labour's Ed Balls to raise an extra £800m through an additional Bank Levy, which would come on top of the increase
Read moreBanking stocks rise with Morgan Stanley upbeat about QE impact
1st Apr 2015 14:01
Shares of UK domestic lenders were making gains on Wednesday after upbeat comments from analysts at Morgan Stanley in a note issued after the US bank's conference on the financial sector last week. Morgan Stanley named British banks Barclays and Lloyds among its most preferred stocks in the European
Read moreBank of England unveils plan for 2015 'stress tests' on UK banks
30th Mar 2015 14:13
The Bank of England on Monday outlined fresh plans to assess the UK's banks in the event of another global economic crisis. The new plan will be applied to the largest UK banks and building societies. The BoE said the purpose of the test is to ensure that the UK banking system can withstand a sever
Read moreFinancial advisers should be prosecuted for recommending tax avoidance schemes, say MPs
26th Mar 2015 10:17
Financial advisers should be prosecuted by the next government for aiding tax avoidance schemes, a new UK parliamentary report has claimed. The parliamentary Public Accounts Committee analysed public spending, use of tax relief as well as advice given by the big four accountancy firms, and scrutinis
Read moreFTSE 100 movers: TUI soars on strong first half results, supermarkets lower
25th Mar 2015 13:54
TUI topped the risers after the group's first half trading update had surpassed last year's trading figures. The group's full year guidance of underlying operating profit growth of 10% to 15% was reiterated, based on the strength of current trading, as online bookings for hotel resorts and cruises s
Read moreHSBC looks to move UK operations to Birmingham
24th Mar 2015 14:22
Banking giant HSBC on Tuesday announced that the ring-fenced section of the bank that is being set up will be based in a new headquarters in Birmingham. The ring-fenced entity of a UK bank is under a new law designed for the sector to avert risk by moving operations with separate funding, leadership
Read moreMonday broker round-up
23rd Mar 2015 13:51
RBS: Nomura reiterates buy and lowers target to 350p from 370p. WPP: Westhouse Securities reiterates add lifts target to 1732p from 1577p. HSBC: Nomura reiterates neutral and shaves target to 590p. StanChart: JP Morgan upgrades to overweight. Citi reiterates buy and lifts target to 1300p from 1250
Read moreWednesday broker round-up
18th Mar 2015 12:41
Johnson Matthey: Deutsche Bank reiterates buy and 3,850p target. BAE Systems: Morgan Stanley lifts target to 570p from 515p and reiterates equalweight. BT Group: Nomura and UBS reiterate buy. Ashtead Group: UBS raises target to 1,130p from 1,070p and reiterates neutral. Rotork: Morgan Stanley imp
Read moreLondon midday: StanChart, energy stocks lead gains ahead of Budget statement
18th Mar 2015 12:03
Stocks were putting in decent gains on Wednesday ahead of the UK Budget and Federal Reserve policy meeting, with the FTSE 100 nearing the 6,900 level. Markets were mostly shrugging off slightly worse-than-expected labour-market data in morning trade, as the jobless rate in Britain unexpectedly held
Read moreBarclays downgrades HSBC, expects near-term growth to stagnate
18th Mar 2015 10:31
Barclays said it sees "another three years of hard labour" at HSBC as it lowered its recommendation on the shares from 'overweight' to 'equal weight'. "A combination of higher capital requirements, macro headwinds and the need for further significant restructuring lead us to downgrade our earnings e
Read moreLondon open: Stocks rise ahead of UK Budget, Fed decision
18th Mar 2015 08:46
London stocks advanced on Wednesday morning, rising for a third straight day, as investors took a bullish approach ahead of the hotly-anticipated UK Budget and Federal Reserve policy decision. The FTSE 100 was trading up 0.3% at 6,859.81 in early deals. The market reaction to chancellor George Osbo
Read moreHSBC to close Jersey accounts as it carries out ID checks
17th Mar 2015 10:24
HSBC is in the process of closing all accounts on Jersey belonging to customers residing in Britain, as the bank carries out checks on the identity and addresses of its customers on the Channel Islands. The lender, which described the preventive measure as a "remediation exercise", said the checks w
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