FTSE 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
Read moreTuesday newspaper round-up: HSBC, Netanyahu election, Iran nuclear deal
17th Mar 2015 06:35
Thousands of clients of HSBC on the mainland have been told their accounts in the Channel Islands are to be closed. That comes as the lender seeks to ensure that its services are not being used to avoid paying taxes in the UK, according to The Times. Trinity Mirror, the owner of the Daily Mirror, ha
Read moreHSBC's Swiss bank now also wanted for trial in France
13th Mar 2015 14:33
Adding to investigations by Swiss and German prosecutors, HSBC's Swiss private bank must now also face trials in France to answer charges over an alleged tax-dodging scheme for wealthy customers. The French financial prosecutor's office confirmed its intention on Friday, after that Le Monde reported
Read moreBroker tips: HSBC, Morrisons, Capita, G4S
10th Mar 2015 12:24
Recent strength in US interest rates, together with opportunities to streamline some of its less profitable operations, should act as catalysts for shares in the world's local bank, HSBC. That was the opinion of analysts at Goldman Sachs who upgraded their view on shares of HSBC to 'buy' from 'neutr
Read moreGoldman Sachs upgrades HSBC to 'buy'
10th Mar 2015 07:34
Recent strength in US interest rates, together with opportunities to streamline some of its less profitable operations, should act as catalysts for shares in the world's local bank, HSBC. That was the opinion of analysts at Goldman Sachs who upgraded their view on shares of HSBC to 'buy' from 'neutr
Read moreTuesday newspaper round-up: Prudential CEO, BBC scandal, Conservatives
10th Mar 2015 06:24
Present chief executive of Britain's Prudential Insurance Group has been lined up to replace Brady Dougan as leader of Credit Suisse, the Financial Times reported. BBC Trust chair Rona Fairhead has been told she should resign after her involvement in the HSBC tax avoidance scandal was revealed to th
Read moreHSBC boss says he should stay in role, despite damage to bank
9th Mar 2015 17:54
HSBC chief executive Stuart Gulliver has admitted the scandal surrounding his personal tax arrangements have damaged the bank's reputation. However, insisting he was fit to stay on as head of HSBC to the Public Accounts Committee (PAC), Gulliver blamed media coverage for exacerbating damage. Gull
Read moreMorgan Stanley expects UK bank capital ratios to rise further to meet regulatory standards
9th Mar 2015 17:41
US heavyweight banking titan Morgan Stanley took note of the rising capital demands for UK banks in its latest note to clients and now expects that over 13% of Common Tier Equity 1 (CTE1) ratios to become the new baseline for the sector. "We see more evidence that the seemingly relentless march upwa
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