Moody's downgrades outlook for UK banks to 'negative'
5th Aug 2014 11:25
Moody's Investor Service showed a more downbeat stance on UK banks and cut the outlook to 'negative' from 'stable' in a report published on Tuesday. The credit rating agency explained that the downgrade in the outlook reflects the view that the improved operating environment and banks' stable finan
Read moreTuesday broker round-up UPDATE
5th Aug 2014 11:02
Acal: FinnCap initiates with a target price of 322p and a buy recommendation. Afren: UBS reduces target price from 200p to 135p and stays with its buy recommendation. Aggreko: WH Ireland ups target price from 1800p to 1850p and stays with a buy recommendation. Alent: Numis increases target price
Read moreTuesday tips round-up: HSBC, Intertek
5th Aug 2014 08:39
Holding shares for dividends alone may sound nice in theory but in practice is by no means a risk-free endeavour. Exhibit number one: HSBC. Year-to-date its stock price has fallen by 12%, wiping out more than twice the equivalent value of the dividends which it has paid out during the same period. T
Read moreFTSE 100 movers: Intertek, HSBC lead risers after H1 results
4th Aug 2014 15:27
Product testing, inspection and certification group Intertek saw its share price surge 7% after half-year profits beat estimates despite sales falling short of forecasts. The company said that earnings per share slipped to 61.2p in the first six months of the year, down 1.1% on the year but above th
Read moreSector movers: UK banking stocks rise after HSBC results
4th Aug 2014 14:45
Banking stocks were leading the risers in London on Monday after investors gave a welcome reception to first-half results from sector heavyweight HSBC. HSBC shares were up 1.5% at 638.7p in afternoon trade despite the company reporting a worse-than-expected 12% fall in half-year profits. The bank
Read moreHSBC at fair value after H1 profit fall, says Shore Capital
4th Aug 2014 13:17
Shore Capital has repeated its 'hold' recommendation for HSBC, saying that the stock is fully valued after its slightly worse-than-expected interim report. The bank reported a 12% fall in profit before tax (PBT) in the first half to $12.340bn, around 1% short of the consensus forecast of $12.549bn.
Read moreBroker tips: HSBC, Shell, Keller, Telecity
4th Aug 2014 13:04
Shore Capital has repeated its 'hold' recommendation for HSBC, saying that the stock is fully valued after its slightly worse-than-expected interim report. The bank reported a 12% fall in pre-tax profit in the first half, around 1% lower than the consensus forecast, owing to regulation and complian
Read moreLondon midday: UK stocks snap three-day decline as HSBC rises
4th Aug 2014 12:12
- HSBC leads banks higher, Intertek rises - UK construction PMI beats forecasts - Portugal concerns ease after BES rescue techMARK 2,748.21 -0.12% FTSE 100 6,711.03 +0.48% FTSE 250 15,387.53 -0.10% UK stocks pushed higher on Monday as the FTSE 100 rebounded after three straight days of losses, as
Read moreHSBC reports larger-than-expected drop in profits
4th Aug 2014 10:20
Emerging markets focused lender HSBC saw reported profits before tax drop 12% during the first six months of the year to reach $12.34bn (£7.33bn). Investors however seemed to be choosing to focus on the prospect for profits to benefit from the upturn in the global interest rate cycle. The consens
Read moreLondon open: Stocks inch higher but gains limited by geopolitics
4th Aug 2014 09:14
- Geopolitics in Gaza, Ukraine still firmly in focus - UK construction PMI due out - Investors give mixed reaction to earnings techMARK 2,748.45 -0.11% FTSE 100 6,696.45 +0.26% FTSE 250 15,371.65 -0.20% UK stocks snapped a three-day losing streak on Monday morning as investors went bargain-huntin
Read moreMonday newspaper round-up: Banco Espírito Santo, Lloyds, Carillion...
4th Aug 2014 07:05
Portugal's troubled Banco Espírito Santo has been renamed "Novo Banco" (New Bank), and split into a "good" and a "bad" bank under a €4.9-billion rescue plan drawn up by the country's central bank to keep the lender afloat. The Bank of Portugal stepped in last night after a disastrous week in which s
Read moreSunday newspaper round-up: Carillion-Balfour, share sell-off, Lloyds Banking
3rd Aug 2014 18:04
Carillion plans to put Balfour Beatty in a "bear hug" to tempt Balfour's shareholders to support its attempted takeover, the Sunday Times said. Carillion last week scuppered a planned all-share merger when it backtracked on the agreed sale of Balfour's Parsons Brinckerhoff US design consultancy. Wit
Read moreSunday share tips: Diageo, Clipper Logistics, HSBC
3rd Aug 2014 18:02
Stay on the sidelines until Diageo chief executive Ivan Menezes has got a grip on his sprawling drinks empire, Danny Fortson advised in the Sunday Times. In his Inside the City column, Fortson said Menezes had inherited a business that was hard to control when he took over last July. The strong poun
Read moreSector movers: Barclays results receive warm reaction, boost banks
30th Jul 2014 16:19
Well-received interim results from Barclays saw the London-listed banking sector rise to the top of the pile on Wednesday as the UK lender bettered analysts' forecasts. The lender reported an 8% fall in adjusted pre-tax profit in the second quarter to £1.656m, which it blamed on currency movements
Read moreBank of England finalises bonus clawback, proposes new rules for individuals
30th Jul 2014 11:14
- BoE can claw back bonuses 7yrs after award - New proposals to hold individuals to account - 'Toughest banking rules in the world' The Bank of England (BoE) has finalised rules on bankers bonuses that could see the clawback of awards a maximum of seven years after they are awarded, with the new me
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