Broker snap: Investec upgrades HSBC by two notches to 'buy'
13th Jun 2013 09:10
Investec has upgraded its rating for global banking giant HSBC from 'reduce' to 'buy', highlighting the potential for dividend growth. Analyst Ian Gordon said that the bank has ruled out any further major value-destructive acquisitions - "misguided attempts to deploy surplus capital/liquidity which
Read moreLondon open: RBS leads market sell-off early on after Hester exit
13th Jun 2013 08:33
Markets sunk sharply from the off on Thursday morning as the FTSE 100's losing streak was extended into its fourth day, with RBS in focus after shocking the City with the surprise resignation of Chief Executive Officer (CEO) Stephen Hester. Following the impressive rise seen at the start of the ye
Read moreThursday broker round-up UPDATE
13th Jun 2013 07:01
African Barrick Gold: Citi moves target price from 175p to 124p and maintains a sell recommendation. ASOS: Nomura raises target price from 2970p to 3400p keeping a neutral rating. Exane increases target price from 4200p to 5000p and retains its outperform rating. Citi ups target price from 4400p to
Read moreTuesday broker round-up UPDATE
11th Jun 2013 07:22
AG Barr: Investec cuts target price from 591p to 581p, while upgrading from add to buy. Canaccord Genuity upgrades to buy with its target price at 570p. Aquarius Platinum: Nomura reduces target price from 90p to 65p, but keeps its buy recommendation. AstraZeneca: Berenberg takes target price from
Read moreSector movers: Barclays leads banks lower as risk appetite sours
6th Jun 2013 15:01
Ongoing market volatility and policy decisions from central banks saw risk appetite diminish on Thursday, with the banking sector in London the worst affected. Policy announcements from the Bank of England and European Central Bank - as well as ongoing uncertainty regarding the Federal Reserve's po
Read moreWednesday newspaper round-up: Apple, HSBC, Home Retail...
5th Jun 2013 06:46
Financial Times reports that tech giant Apple is facing an import ban in the US on certain models of its iPhone 4 and iPad 2 (as well as some older devices) after the International Trade Commission said that the devices infringed Samsung's patents. "HSBC failed to comply with New York state laws th
Read moreTuesday broker round-up UPDATE
4th Jun 2013 07:25
Afren: Goldman Sachs shifts target price from 224p to 221p keeping a buy recommendation. Alent: Goldman Sachs initiates with a target price from 426p and a buy recommendation. Amerisur Resources: Goldman Sachs moves target price from 65p to 82p and stays with its neutral rating. Bahamas Petroleum
Read moreLondon midday: FTSE 100 down one per cent as volatility continues
31st May 2013 11:26
The volatile trade seen over the past week continued on Friday with investors turning nervous ahead of another raft of economic indicators from the US later on. "European markets have taken a leg lower this morning as traders look to scale back risk heading into the month's end, with the central ba
Read moreWednesday newspaper round-up: Darty, UK banks, German banks...
29th May 2013 06:40
Electricals retailer Darty could slash jobs in an effort to cut costs in its core French region as it copes with a weaker economy, The Independent reports. The Guardian says that Britain's 'Big Four' banks - comprised of Lloyds, HSBC, RBS and Barclays - will have cut 189,000 jobs worldwide in just
Read moreLondon close: Stimulus hopes drive triple-digit gains for FTSE 100
28th May 2013 16:49
While hopes have now faded for a long-term continuation of stimulus measures in the US, speculation surrounding continued monetary easing in Europe and Japan sparked a huge surge on equity markets on Tuesday. After reaching a 13-year high on Wednesday, the FTSE 100 dropped sharply in the latter par
Read moreLondon midday: Stocks bounce back after recent sell-off
28th May 2013 11:20
UK markets were registering impressive gains on Tuesday morning with hopes of continued monetary easing in the Eurozone lifting sentiment as stocks bounced back following last week's sharp sell-off. After reaching a 13-year high on Wednesday, the FTSE 100 dropped sharply in the latter part of last
Read moreFormer HSBC executive takes helm of Co-op Bank
28th May 2013 11:14
The Co-operative Bank's shares retreated Tuesday as the company announced the appointment of former HSBC banker Niall Booker as its new Chief Executive Officer (CEO). Booker will replace Barry Tootell, who left after a downgrade by Moody's forced the lender to deny it could need a government bailo
Read moreLondon open: Stocks surge as markets play catch up after long weekend
28th May 2013 08:30
UK markets surged in early trading on Tuesday with traders wasting no time in playing catch up as they returned to their desks following the three-day weekend. After reaching a 13-year high on Wednesday, the FTSE 100 dropped sharply in the latter part of last week on fears of a scaling back of stim
Read moreTuesday newspaper round-up: RBS, Fiat, The Co-op...
28th May 2013 06:30
The Telegraph says that RBS is preparing its restructuring boss Nathan Bostock for the Chief Executive Officer (CEO) role as part of the company's long-term plans to replace Stephen Hester. Shares in Italian carmaker Fiat raced higher on Monday on speculation that the company was close to a deal to
Read moreLondon close: Stocks off again, Yen keeps strengthening
24th May 2013 16:15
London equities finished lower for a second straight day, with investors being put off by the recent gyrations in the market, although the early close of some US markets ahead of the Memorial Day weekend may also have played a role. Market commentary is a tad divided regarding the direction which
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