Broker snap: 'Sell' RBS ahead of next month's results, says Investec
17th Jan 2014 15:47
Investec has downgraded its rating for UK banking group Royal Bank of Scotland (RBS) from 'hold' to 'sell', reminding investors of the rule: 'Never own RBS into the numbers!' "'Short RBS' may be a crowded trade but after a 19% one-month 'spike', we think it (once again) looks attractive," said Anal
Read moreAnalyst says HSBC 'overstated accounts' and disputes ROE targets
16th Jan 2014 14:19
A Hong Kong research firm has claimed HSBC has overstated subsidiary assets by as much as 92.bn dollars and therefore needs to raise capital, and either cut or suspend its dividend. In a somewhat incredulous and cynical initiation of coverage, ending unsurprisingly with a 'sell' recommendation, re
Read moreLondon close: UK markets hit two-month high as banks gain
7th Jan 2014 16:24
- FTSE 100 at highest level since November 4th - Eurozone inflation ramps up interest-rate speculation - Banks helped by funding data - IAG reports strong December traffic figures techMARK 2,789.43 -0.10% FTSE 100 6,755.45 +0.37% FTSE 250 16,069.19 +0.12% UK markets finished with decent gains on
Read moreFTSE 100 movers: Banks rise on BoE Liabilities Survey
7th Jan 2014 15:53
Ian Gordon at Investec attributed the rally in Lloyds' share price to the Bank of England's Liabilities Survey. He said: "It's not that it contains surprising news, but de facto confirmation of improving capital metrics, improving retail deposits and (significant) declines in funding volumes/requir
Read moreSector movers: Banking stocks rise, Lloyds leads gains
7th Jan 2014 15:48
Banking stocks were the best performers on Tuesday after data showed that funding conditions for British lenders had eased in the fourth quarter of 2013. Stocks in the sector have traded broadly sideways over the past two weeks of so, taking a breather over the festive season. However, Lloyds has
Read moreLondon midday: Stocks gain, ECB in focus as inflation eases
7th Jan 2014 11:31
- Eurozone inflation eases to 0.8 per cent - ECB in focus ahead of meeting on Thursday - Banks lift Footsie into positive territory techMARK 2,796.28 +0.14% FTSE 100 6,761.20 +0.45% FTSE 250 16,076.04 +0.17% After a slow start, markets pushed into positive territory by Tuesday lunchtime as an unex
Read moreLondon open: Markets flat ahead of busy week, PMIs in focus
6th Jan 2014 08:15
- Services PMIs on tap, Chinese data weakens - RSA leads financials higher - Retailers in focus ahead of trading update, M&S falls techMARK 2,787.71 -0.03% FTSE 100 6,727.98 -0.04% FTSE 250 16,028.46 +0.05% UK markets opened broadly flat on Monday morning with gains in the financial sector offset
Read moreLondon open: Markets lower after China data, but Next surges
3rd Jan 2014 08:16
- China services PMI eased in December - Markets on look-out for plenty of economic data - Next raises profit guidance - House of Fraser planning London listing techMARK 2,768.12 -0.15% FTSE 100 6,704.72 -0.20% FTSE 250 15,862.80 -0.35% UK markets opened slightly lower again on Friday as worsening
Read moreLondon midday: Markets jump one per cent after Fed taper
19th Dec 2013 12:01
- Fed tapers monthly asset purchases by 10bn dollars - Markets rise, Wall Street hits record high - Annual growth of UK retail sales misses estimates techMARK 2,732.70 +1.31% FTSE 100 6,556.63 +0.99% FTSE 250 15,576.80 +1.37% UK markets had held on to their gains by Thursday lunchtime as investors
Read moreLondon open: Fed taper sparks 'Santa Rally' as stocks jump
19th Dec 2013 08:17
- Fed cuts monthly bond buying to 75bn dollars - Commits to near-zero rates, depending on inflation - Pharma peers AstraZeneca, GSK making gains techMARK 2,727.60 +1.12% FTSE 100 6,553.38 +0.94% FTSE 250 15,550.52 +1.20% UK markets opened around one per cent higher on Thursday morning in the after
Read moreLondon close: Stocks pull back as investors await Fed decision
17th Dec 2013 16:36
- US inflation data in focus ahead of Fed meeting - UK inflation falls, Eurozone inflation picks up - Supermarket fall on competition from discounters - Car insurance is too high, claims Competition Commission techMARK 2,684.75 -0.05% FTSE 100 6,486.19 -0.55% FTSE 250 15,348.56 -0.23% UK markets p
Read moreHSBC sells 8 per cent stake in Bank of Shanghai
11th Dec 2013 12:22
HSBC's Asian subsidiary is to sell its entire 8.0 per cent shareholding in Bank of Shanghai to Banco Santander. The assets were accounted for as an available-for-sale asset with a fair value of 285.4m pounds. HSBC Asia Pacific Chief Executive Officer Peter Wong placed the transaction with the cont
Read moreLondon open: Markets flat on budget deal, taper speculation
11th Dec 2013 08:28
- US negotiators reach budget deal - Taper speculation ramps up ahead of Fed meeting - Imagination disappoints with poor H2 outlook - RBS Finance Director Bostock steps down techMARK 2,678.82 +0.23% FTSE 100 6,524.52 +0.02% FTSE 250 15,401.84 -0.06% Markets opened broadly flat on Wednesday in the
Read moreTuesday tips round-up: HSBC, Kentz Corporation
10th Dec 2013 10:11
Market-based signals, or prices, are extremely useful, but they have their limits. Thus, for some an initial public offering (IPO) of HSBC's UK retail arm would allow it to 'unlock' value and help its valuation recover to levels similar to Lloyd's, for example. Simply put, for those who follow that
Read moreLondon midday: Mining stocks drag FTSE 100 lower
9th Dec 2013 11:33
- Miners lower as investors digest China trade data - Japanese growth estimates lowered for Q3 - Tullow disappoints after abandoning well techMARK 2,677.57 +0.26% FTSE 100 6,539.02 -0.20% FTSE 250 15,341.86 +0.16% Weakness in the heavyweight mining sector kept London's FTSE 100 index in the red on
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