London 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
Read moreSector movers: Defensives thrive as investors scale back risk
24th May 2013 15:27
With market sentiment still fragile following the heavy sell-off of the past two days, defensive sectors were thriving on Friday as investors refrained from taking risk ahead of the long weekend. Concerns about a scaling back of stimulus in the US and a slowdown in China saw the FTSE 100 drop 2.1%
Read moreLondon midday: Markets fall as caution sets in
24th May 2013 11:41
Mining and banking stocks were weighing on the FTSE 100 on Friday morning as the index extended losses following yesterday's dramatic sell-off. Worries about the Federal Reserve scaling back its asset purchase programme prematurely and a negative reading of factory activity in China saw markets acr
Read moreBroker snap: Investec labels StanChart as top banking pick
24th May 2013 10:02
Investec has maintained its 'buy' rating and 1,900p target price for emerging markets-focused lender Standard Chartered, saying that the stock remains its top pick in the banking sector. In a research report on Friday, the broker highlighted dealings by StanChart directors which have contributed to
Read moreFriday newspaper round-up: HSBC, British Land, Tesco...
24th May 2013 06:50
According to The Guardian, the 1.9bn-dollar settlement deal that HSBC agreed with US authorities over money-laundering offences, could be at risk, meaning that the bank could face criminal charges. The original settlement meant that HSBC wouldn't face prosecution but the judge overseeing the case is
Read moreLondon close: Bernanke's dovish tone sparks surge late on
22nd May 2013 17:12
After a relatively subdued start on the FTSE 100, stocks surged in afternoon trade as comments from the Chairman of the Federal Reserve pushed the index to fresh 13-year highs. The benchmark index extended its impressive year-to-date rise to nearly 16% today after Ben Bernanke initiated a dovish to
Read moreSector movers: Stocks gain as banks play down worries over capital targets
22nd May 2013 15:08
Banking stocks were in demand on Wednesday after playing down concerns about capital requirements and as speculation ramps up regarding the potential reprivatisations of both RBS and Lloyds. Both part-nationalised lenders released statements this morning, reassuring the markets that they would be a
Read moreWednesday broker round-up UPDATE
22nd May 2013 09:37
Afferro Mining: Panmure Gordon reduces target price from 279p to 100p, while keeping its buy recommendation. Amara Mining: Westhouse Securities cuts target price from 110p to 90p retaining a buy recommendation. Amlin: Westhouse Securities moves target price from 455p to 470p and upgrades to add.
Read moreBroker snap: UBS upgrades banks to 'overweight' as conditions improve
17th May 2013 10:59
UBS has lifted its rating for the global banking sector from 'underweight' to 'overweight', saying that the operating environment is beginning to improve. In a research report titled 'Post-crisis banking', UBS said that the tone of its Global FID conference earlier this week was "neutral to slightl
Read moreThursday broker round-up UPDATE
16th May 2013 07:43
Barratt Developments: Deutsche Bank lowers target price from 336p to 327p, while leaving its buy recommendation unaltered. BG Group: Credit Suisse raises target price from 1150p to 1190p keeping a neutral rating. BT Group: Berenberg takes target price from 280p to 375p and retains a buy recommenda
Read moreThursday tips round-up: LSE, easyJet, HSBC
16th May 2013 06:26
Change is in the air at HSBC. The lender has been right to concentrate on cost-cutting, having exited 50 businesses and announced roughly 44,000 lay-offs since 2011 - even if its cost-to-income ratio has risen over the past three years. Indeed, banks have been at pains recently to show investors tha
Read moreHSBC identifies further transformative cost cuts
15th May 2013 07:45
HSBC Chief Executive Stuart Gulliver has notified of further considerable cost cutting plans as the bank becomes "simpler and easier to manage" after shedding a swathe of underperforming businesses. In an investor update at its London headquarters, the banking group notified of "significant executi
Read moreBroker snap: Investec downgrades HSBC after recent outperformance
13th May 2013 16:14
Shares of HSBC Holdings are currently close to five-year highs and further upside is limited, according to Investec which has cut its recommendation from 'buy' to 'reduce'. The broker said it was "perfectly comfortable" with HSBC's first-quarter results last week which saw sharply lower impairments
Read moreLondon midday: Stocks snap winning streak as Chinese data disappoints
13th May 2013 11:51
Disappointing economic data from China on Monday put an end to a seven-day winning streak in London which lifted the FTSE 100 to a five-and-a-half-year high last week. London's benchmark index reached a closing price of 6,625 on Friday afternoon, a level not seen since late 2007, meaning that it ha
Read moreLondon open: Markets pause after strong run last week
13th May 2013 08:48
Weakness in the financial sector meant that the FTSE 100 was in the red on Monday morning, with investors pausing for breath after the index reached fresh multi-year highs last week. London's benchmark index reached a closing price of 6,625 on Friday afternoon, a level not seen since late 2007, mea
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