Broker 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 moreLondon open: Banks, supermarkets give FTSE 100 a lift
6th Oct 2014 08:37
Decent gains from banking and supermarket stocks gave the FTSE 100 a boost on Monday morning as the UK's benchmark index continues to recover after hitting a 10-month low last week. The Footsie was trading 0.4% higher at 6,554 early on, rising for the second straight day after falling to 6,446.39 la
Read moreLondon close: FTSE ends little changed after turbulent day
29th Sep 2014 17:01
After sliding early on, the FTSE surfed some choppy waves before climbing in the final two hours of trade to end little changed, down just 2.79 points at 6,646.60. "Stocks suffered another setback today with investors concerned over the uncertainty and possible repercussions of demonstrations in Hon
Read moreFTSE 100 movers: Petrofac shares lifted by Credit Suisse upgrade
29th Sep 2014 16:06
Credit Suisse drove Petrofac shares higher after upgrading the stock from 'neutral' to 'outperform', target 1,340p. However, analysts at Morgan Stanley wrote that the return of aggressive bidding by contractors as they seek more MENA work - given slowdowns elsewhere – may impact Petrofac's order int
Read moreLondon midday: StanChart and HSBC lower on Hong Kong protests
29th Sep 2014 11:36
London's blue chip stocks were holding slightly lower come midday ahead of the release of the latest figures on personal income and spending Stateside, as traders kept an eye on recent events in Hong Kong. That comes in what is expected to be a very busy week both at home and abroad in terms of econ
Read moreSunday newspaper round-up: Tesco, RBS, IAG
28th Sep 2014 21:05
The whistleblower who alerted Tesco to its accounting problem tried to do so before but was ignored, the Sunday Times reported. The accountant, reporting to Tesco's UK Finance Director, Carl Rogberg, raised concerns with superiors during ex-chief executive Philip Clarke's time in charge but "failed
Read moreBig banks see rise in loan numbers, BBA reveals
23rd Sep 2014 12:30
The number of mortgages taken out by customers of the UK's big banks has jumped 15% year-on-year, the British Bankers' Association (BBA) revealed on Tuesday. The data showed that gross mortgage borrowing totalled £11.1bn and that although approval processes were temporarily disrupted by the implemen
Read moreLondon midday: UK stocks sink on fears over Scottish referendum, Ukraine
8th Sep 2014 11:36
Concerns surrounding the upcoming referendum on Scottish independence and a fragile ceasefire agreement in Ukraine were weighing heavily on UK stocks on Monday. London's FTSE 100 was trading down 1% at 6,789 by midday. The index has not closed below the 6,800 mark since 22 August when it settled at
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