Wednesday broker round-up UPDATE
22nd Jan 2014 08:33
Admiral Group: Numis raises target price from 1425p to 1710p upgrading from add to buy. African Barrick Gold: Deutsche Bank moves target price from 180p to 190p and keeps a hold recommendation. RBC Capital takes target price from 220p to 250p and maintains an outperform rating. JP Morgan ups target
Read moreLondon close: FTSE 100 edges higher after quiet session
20th Jan 2014 16:45
- FTSE 100 within touching distance of 14-year high - Banks fall after Deutsche Bank's Q4 loss - Chinese growth slowed down in Q4 - UK outlook improves - HSBC highlights potential risks from too-low inflation readings techMARK 2,853.67 +0.09% FTSE 100 6,836.73 +0.11% FTSE 250 16,227.11 +0.25% It
Read moreBroker snap: Goldman highlights HSBC as top pick among UK banks
20th Jan 2014 16:37
Goldman Sachs has named HSBC as its preferred pick among UK banks on a long-term perspective, after analysing the financials across the sector since 1990. Analysts from the US firm said that UK banks under their coverage have booked £44.5bn of notable and non-recurring charges since 1990, equivalen
Read moreFTSE 100 movers: Banks lower after Deutsche Bank profit warning
20th Jan 2014 15:30
Fears that poor results from Deutsche Bank could mean poor updates from banks across Europe weighed on the sector continent-wide on Monday, Barclays included. The German lender revealed a fourth quarter pre-tax loss of €1.15bn, which Ishaq Siddiqi, a Market Strategist at ETX Capital, described as a
Read moreBroker snap: JPM takes cautious view on RBS, but hikes target
20th Jan 2014 14:52
JPMorgan Cazenove saw a positive earnings outlook for domestic UK banks in 2014, driven by the economic recovery at home, its analysts wrote to clients on Monday. They expected to see a multitude of positive developments as a result of the above, including: improving net interest margins (NIM) and
Read moreHSBC to sell Middle East banking business
20th Jan 2014 13:25
HSBC Bank Middle East, the regional subsidiary of the FTSE 100-listed bank, has agreed to sell its banking business in Jordan to Arab Jordan Investment Bank. The sale, which is part of the group's wider strategy, is expected to be complete in the first half of this year. The employees of the busi
Read moreLondon midday: Markets tread water on quiet day, but banks fall
20th Jan 2014 11:38
- Volumes light with Wall Street closed for MLK Day - Chinese GDP growth slows down - UK business optimism improves, IMF to raise UK forecasts - Deutsche Bank surprises with Q4 loss techMARK 2,851.04 0.00% FTSE 100 6,831.82 +0.04% FTSE 250 16,212.26 +0.16% Stocks were rangebound on Monday morning
Read moreLondon open: Banking stocks limit upside as markets open flat
20th Jan 2014 08:18
- Banks fall after Deutsche Bank Q4 loss - US markets closed for MLK Jr day - Chinese data points to slowdown techMARK 2,857.04 +0.21% FTSE 100 6,828.28 -0.01% FTSE 250 16,219.04 +0.20% UK equities opened more or less flat on Monday on what is set to be a quiet day with Wall Street closed later on
Read moreBroker 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
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