Santander removes Lloyds Banking Group from 'core buy' list
18th Jun 2014 15:32
Santander Global Banking & Markets has blamed a possible UK interest rate rise for its waning enthusiasm towards Lloyds Banking Group. The broker is removing Lloyds from its 'core buy' list, on which the UK bank has been for most of 2012, 2013 and 2014, although it is keeping a 'buy' recommendation
Read moreHSBC to create 200 new jobs in Scotland
18th Jun 2014 12:48
Global banking giant HSBC has announced that it will create 200 jobs across Scotland to help better connect with customers and support businesses. The bank, which already employs around 3,300 in Scotland, said it is a "very positive sign for Scotland and HSBC". 100 new project staff posts are expe
Read moreFriday broker round-up UPDATE
13th Jun 2014 09:23
African Minerals: Deutsche Bank reduces target price from 316p to 249p maintaining a buy recommendation. Atkins: Numis ups target price from 1650p to 1700p and keeps a buy recommendation. JP Morgan reduces target price from 1619p to 1548p and reiterates its overweight rating. Ferrexpo: Deutsche Ba
Read moreHSBC sells UK pension business to Swiss Re
11th Jun 2014 12:14
HSBC on Wednesday said it has agreed to sell its UK pensions business to ReAssure, owned by Swiss Re. The bank will sell the business's policies and associated annuities book, but continue to manage its assets. At the end of last year the underlying assets of the firm was £4.2bn, on which £4bn we
Read moreSunday newspaper round-up: Intercontinental Hotels, George Osborne, AstraZeneca
25th May 2014 09:42
Intercontinental Hotels has turned down a 6bn pounds takeover approach from an unnamed investment fund, the Sunday Times reported. The approach is said to have been made in the last three weeks but the board thought it was too low to consider. City sources think the group could now be a target for a
Read moreFriday broker round-up UPDATE
23rd May 2014 09:53
Admiral Group: JP Morgan raises target price from 1022p to 1164p, while staying with its underweight rating. Antofagasta: Investec cuts target price from 715p to 690p and leaves its sell recommendation unchanged. Assura Group: Liberum Capital shifts target price from 44p to 47p and stays with its
Read moreWednesday newspaper round-up: Bank of England, Lloyds, AstraZeneca
21st May 2014 06:38
Raising interest rates might be the only effective tool the Bank of England has to cool the housing market, its deputy governor has conceded. Charlie Bean, who retires at the end of June, said that while it was sensible for the Bank to use macro-prudential tools to control rapid price rises and mana
Read moreEU charges HSBC, JP Morgan and Credit Agricole with Euribor rigging
20th May 2014 14:30
HSBC, JP Morgan and Credit Agricole on Tuesday were charged by the European Union (EU) antitrust regulators with rigging financial benchmarks linked to the euro. The European Commission said it has concerns that the three banks may have taken part in a collusive scheme which aimed to distort the no
Read moreLondon open: AstraZeneca leads markets lower as shares sink
19th May 2014 08:33
- AstraZeneca drops sharply after rejecting Pfizer offer - Banking, mining stocks fall - China property concerns weigh on sentiment techMARK 2,714.40 -1.13% FTSE 100 6,823.23 -0.48% FTSE 250 15,475.65 +0.50% UK stocks fell on Monday morning with AstraZeneca leading the decline after rejecting a fi
Read moreWednesday broker round-up UPDATE
14th May 2014 09:34
African Minerals: Deutsche Bank lowers target price from 335p to 324p maintaining a buy recommendation. Aveva: Panmure Gordon downgrades from buy to hold with a target price of 2199p. Aviva: Panmure Gordon ups target price from 540p to 585p and keeps a buy recommendation. boohoo.com: Investec ini
Read moreWednesday newspaper round-up: Deflation, HSBC, GSK
14th May 2014 07:13
A sustained period of deflation in the Eurozone could derail Britain's recovery, a group of leading economists has warned. Almost half of the economists surveyed by the Centre for Macroeconomics, a joint study between the Bank of England, the National Institute of Economic and Social Research and th
Read moreHSBC sells Pakistan bank
9th May 2014 12:45
HSBC Middle East has entered into an agreement to sell its banking business in Pakistan to Meezan Bank. The move comes less than a year after failing to receive regulatory approval to sell it to another company, according to Reuters. The Pakistan-based unit has 10 branches along with gross assets
Read moreSector movers: Barclays and StanChart give banks a boost
8th May 2014 15:36
Well-received first-quarter updates from the likes of Barclays and Standard Chartered gave UK banking stocks a boost on Thursday. Barclays led London's blue chips higher in afternoon trade, up 8.6%, after it pleased the City with plans to slash 14,000 jobs in 2014 across the group as it aimed to be
Read moreBroker tips: Barclays, HSBC, Sage, WM Morrison
8th May 2014 12:48
Investec has applauded Barclays' Group Strategy Update on Thursday, after the bank announced a new round of jobs cuts, mainly in its investment bank (IB), as part of its 'bold simplification'. "Barclays is already a low-risk, profitable bank, but today's 'reset' is about rightsizing the bank to ref
Read moreUBS cuts target for HSBC after weak Q1 revenue performance
8th May 2014 10:01
UBS has lowered its target price for HSBC from 665p to 630p and kept a 'neutral' rating following the bank's first-quarter results, saying that it is still waiting on revenue momentum to resume. HSBC's pre-tax profit fell 20% year-on-year to $6.8bn, slightly below UBS' forecast for $6.9bn, though t
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