Royal Bank of Scotland will continue Ulster support, responds to stress test success
26th Oct 2014 15:55
The Royal Bank of Scotland (RBS) is rumoured to firmly back Irish counterpart Ulster Bank after a recent upswing in value, despite reports that RBS was looking to "seek a sale or outside investment", according to the Sunday Telegraph. The bank's chief executive Ross McEwan has hinted that he would l
Read moreSociete Generale to move London offices to Canary Wharf
23rd Oct 2014 17:02
French bank Societe Generale is set to join some of its competitors in Canary Wharf, one of London's main financial districts. On Thursday, the lender, which has currently six offices in London, announced it had signed a contract to lease eight of the 26 floors of a new building at One Bank Street,
Read moreHSBC and First Trust Bank broke small business banking rules, say watchdogs
22nd Oct 2014 10:14
Competition regulators have ordered HSBC and Northern Ireland's First Trust Bank (FTB) to take action after they were found to have broken small business banking rules. The Competition & Markets Authority (CMA) said the two banks had breached legally-binding undertakings banning banks from forcing s
Read moreBanks are starting to look like utilities, Brewin Dolphin says
20th Oct 2014 15:59
Britain's banks are becoming more like utilities as they focus on traditional retail banking rather than "casino" investment banking after the financial crisis, according to broker Brewin Dolphin. The banks are increasingly adopting characteristics common among defensive stocks like utilities, such
Read moreMonday broker round-up UPDATE
20th Oct 2014 09:48
African Barrick Gold: Westhouse Securities cuts target price from 285p to 230p maintaining an add rating. Antofagasta: Westhouse Securities reduces target price from 805p to 720p retaining its neutral rating. Centamin: Westhouse Securities shifts target price from 65p to 70p upgrading to buy. DCC:
Read moreSunday newspaper round-up: Tesco, Shire, Greene King
19th Oct 2014 17:27
The investigation into Tesco's £250m profit overstatement has found "inappropriate" behaviour largely confined to the first half of this year, the Sunday Times reported. The supermarket group is expected to say on 23 October that it will not have to restate previous years' results. The paper said th
Read moreUK bank reforms negative for bondholders, Moody's says
13th Oct 2014 10:31
Recent proposed structural reforms released by the UK's Prudential Regulation Authority (PRA) are negative for all large bank bondholders, Moody's warned in a note published on Monday. "The proposed hanges are credit negative for all bondholders of large UK banks because they remove some key obstacl
Read moreBroker tips: HSBC, Vodafone, Wood Group, Centamin, Miners
9th Oct 2014 13:03
Investec has upgraded HSBC, saying the banking group is regaining its appetite for lending. "We are mightily encouraged by evidence of returning risk appetite. We upgrade to 'add' from 'hold' and our target price to 650p from 620p," the broker said. Vodafone's recent share-price outperformance mean
Read moreInvestec upgrades HSBC on lending revival
9th Oct 2014 11:53
Investec has upgraded HSBC, saying the banking group is regaining its appetite for lending. The broker, which has upgraded HSBC to 'add' from 'hold', said it has held off from advising investors to buy shares in HSBC until now because it believed the bank either could not or would not increase lendi
Read moreThursday broker round-up UPDATE
9th Oct 2014 09:27
African Barrick Gold: Numis reduces target price from 330p to 270p keeping its hold recommendation. Antofagasta: Numis upgrades to hold with a target price of 700p. Aureus Mining: Numis lowers target price from 45p to 40p staying with its buy recommendation. Boohoo: Barclays initiates with a targe
Read moreThursday tips round-up: TSB, Virgin,Marston's
9th Oct 2014 07:21
The long list of challenger banks, both those who have recently floated as well as those which are waiting in the wings to do so, enjoy some important advantages over their big four rivals (HSBC, Barclays, Lloyds, RBS). Namely, they lack the legacy problems which are dogging their competitors and th
Read moreHSBC directors to quit over new banking rules - reports
7th Oct 2014 14:07
Two directors of HSBC's British banking business are set to quit in a controversy over new industry regulations that can lead to prison sentences, according to reports on Tuesday. Alan Thomson, a member of the audit and risk committees of HSBC Bank Plc, has resigned and deputy chairman John Trueman
Read moreSector movers: Tensions in HK weigh on financials
6th Oct 2014 14:09
Financial stocks were the Achilles Heel of the market on the first day of the week following reports that the authorities in Hong Kong had used "brutal force", including tear-gas and pepper spray, to quell pro-democracy protesters in the ex-British colony. The protestors had gathered in Hong Kong to
Read moreBroker tips: UK banks, Easyjet, Just Retirement, ASOS
6th Oct 2014 11:35
Shares in HSBC and emerging markets bank Standard Chartered both look cheap, according to analysts at Barclays Capital, though HSBC is the broker's preferred pick as it appears "structurally and cyclically stronger". The valuations of both stocks suggest potential buying opportunities, Barclays said
Read moreBarclays Capital highlights buying opportunities at HSBC, StanChart
6th Oct 2014 10:07
Shares in HSBC and emerging markets bank Standard Chartered both look cheap, according to analysts at Barclays Capital, though HSBC is the broker's preferred pick as it appears "structurally and cyclically stronger". The valuations of both stocks suggest potential buying opportunities, Barclays said
Read more