Broker snap: Investec downgrades ratings for HSBC and RBS
19th Jul 2013 10:19
Investec has downgraded its ratings for banking peer HSBC and RBS from 'buy' to 'hold' in separate research reports, reiterating its preference for rival Barclays. HSBC Analyst Ian Gordon said that while HSBC is not overtly expensive, consensus forecasts for the dividend have "now caught up with o
Read moreLondon midday: Banks, miners provide a lift after China data
15th Jul 2013 11:42
Cyclical stocks welcomed in-line gross domestic product (GDP) figures from China on Monday morning with the FTSE 100 nearly hitting seven-week highs early on. London's benchmark index started the new week trading near the 6,600 level; the last time the FTSE 100 closed higher was on May 30th. Gains
Read moreLondon open: FTSE 100 near seven-week high after China data
15th Jul 2013 08:24
Worries about a sharp slowdown in China temporarily eased on Monday morning, pushing the FTSE 100 to levels not seen in nearly seven weeks. London's benchmark index started the new week trading near the 6,600 level early on. The last time the FTSE 100 closed higher was on May 30th. "European marke
Read moreLondon pre-open: Gains expected after in-line Chinese data
15th Jul 2013 07:29
A broadly in-line set of economic figures from China provided stock markets in Asia with a small boost on Monday, with London's FTSE 100 expected to follow suit early on. As expected, the annual rate of Chinese economic growth slowed down in the second quarter, from 7.7% to 7.5%. This will come as
Read moreHSBC to sell German private banking assets
15th Jul 2013 07:05
Global banking giant HSBC has announced its intention to offload its private banking division in Germany. HSBC Trinkaus & Burkhardt and HSBC Trinkaus Investment Managers, HSBC's subsidiaries based in Germany which work with corporate, institutional and wealthy private clients, have entered into an
Read moreLondon midday: Miners drag markets lower after Chinese data
10th Jul 2013 11:33
The FTSE 100 had slipped into the red on Wednesday morning with markets turning cautious ahead of a statement from the Federal Reserve, hoping for indications of when the central bank will begin to taper stimulus. Disappointing trade figures from China were also weighing on sentiment today, pressur
Read moreMoody's upgrades UK banking sector
10th Jul 2013 10:24
Moody's has changed its outlook on the UK banking system to 'stable' from 'negative' to reflect Britain's improved economic prospects. The ratings agency said the more stable UK economy had improved the outlook for borrowers being able to repay debts. There were also encouraging signs for profitabi
Read moreLondon midday: Banks, miners lead markets higher
9th Jul 2013 11:30
Improved appetite for risk helped equities in the banking and mining sectors on Tuesday morning, pushing the FTSE 100 to levels not seen in over a month. London's benchmark index was trading at around 6,500 this morning, a mark not reached since the start of June when markets were beginning to pric
Read moreLondon open: Miners give markets a boost
9th Jul 2013 08:29
Strong gains from mining and banking stocks ensured a strong open for the FTSE 100 on Tuesday morning as sentiment was lifted by improving hopes for the US economy and a bailout deal in Greece. London's benchmark index opened over one per cent higher early on advancing past 6,500, a level not seen
Read moreSector movers: RBS leads banks higher as markets surge
4th Jul 2013 14:51
Every sector in London was trading in positive territory on Thursday as dovish comments by central banks in the UK and Europe sparked a market-wide surge with the FTSE 100 up around three per cent by late afternoon. The Bank of England and European Central Bank both dampened expectations of potenti
Read moreLondon midday: Stocks rise as BoE holds fire, markets eye ECB
4th Jul 2013 11:28
The FTSE 100 issued decent gains on Thursday morning, taking advantage of expected low volumes on the back of the Independence Day holiday in the States, with all eyes on central banks in the UK and Europe in the absence of any major economic data today. As expected, the Bank of England (BoE) stood
Read moreBroker tips: Lloyds, ASOS, Dunelm
4th Jul 2013 10:49
An improving picture of the housing market should start to rub off on UK banks, according to Nomura, which is viewing the the sector with 'guarded optimism'. Nomura has upgraded its rating for Lloyds from 'reduce' to 'neutral', saying that the company is now its top pick in the domestic UK banking
Read moreBroker snap: Nomura upgrades Lloyds on housing recovery
4th Jul 2013 09:49
An improving picture of the housing market should start to rub off on UK banks, according to Nomura, which is viewing the the sector with 'guarded optimism'. In a research report released on July 3rd, the broker said that UK house prices are 10% too low and could rise by 15% by the end of 2015 (up
Read moreLondon close: Stocks rise on first day of Carney's mandate
1st Jul 2013 17:24
Equities began the third quarter on a strong note, buoyed in part by a bullish note from strategists at JP Morgan on commodity prices. Alongside a slightly better than expected reading on US manufacturing that helped to compensate for a somewhat weak reading on Chinese manufacturing overnight. Coinc
Read moreEU accuses Barclays and HSBC of anti-competitive practices
1st Jul 2013 14:22
The European Commission has accused 13 major international investment banks of abusing their power to stop rivals from offering alternative ways to trade lucrative credit derivatives. The banks, including Barclays and HSBC, are charged with trying to prevent competitors from trading profitable prod
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