HSBC to sell loan portfolios
5th Mar 2013 14:03
Banking giant HSBC on Tuesday unveiled plans for its indirect wholly-owned subsidiary HSBC Finance Corp (HFC) to sell its Personal Unsecured Loan and Personal Homeowner Loan portfolios. The portfolios will be sold to SpringCastle Acquisition, a Delaware-based company owned by Springleaf Finance an
Read moreTuesday broker round-up UPDATE
5th Mar 2013 07:15
Abcam: Investec raises target price from 466p to 484p and keeps a buy recommendation. Numis revises target price from 470p to 530p and maintains its buy ratng. Access Intelligence: Merchant Securities initiates with a target price of 7p and a buy recommendation. Amlin: Canaccord Genuity raises tar
Read moreTuesday newspaper round-up: GlaxoSmithKline, Credit crunch, HSBC
5th Mar 2013 06:44
Foreign & Colonial Investment Trust has slashed its exposure to UK equities by a third since the start of the year, to 200m pounds, in anticipation of a weaker pound and a correction in equity markets worldwide. Amongst others, it has cut its holdings of stock in the following corporations: Vodafone
Read moreLondon close: Chinese data and Italian uncertainty weigh on stocks
4th Mar 2013 17:16
UK stocks ended the session moderately lower on Monday, pushed into decline by concerns over a stricter mortgage policy introduced in China, in an effort to curb soaring property prices, and political tensions in Italy. The news out of Asia prompted declines amongst resources stocks on fears demand
Read moreFTSE 100 movers: GKN boosted by upgrade
4th Mar 2013 12:45
GKN shares rose into the top spot after Goldman Sachs raised its target price from 195p to 272p and upgraded the stock from sell to neutral. Capita Group followed closed behind after Jefferies raised its target price from 840p to 1,010p and kept a buy recommendation. The business process manager a
Read moreLondon midday: Chinese mortgage policy puts FTSE in the red
4th Mar 2013 12:00
UK stocks were sitting firmly in negative territory by midday on Monday, pushed into decline by concerns over a stricter mortgage policy introduced in China in an effort to curb soaring property prices. The news prompted declines amongst resources stocks on fears demand for building materials coul
Read moreLondon open: HSBC off following results
4th Mar 2013 08:07
Investors have come back from the weekend to find that the budget sequester in the US is in 'full-swing' after US President Barack Obama and Republicans failed to reach an agreement to avoid 85bn dollars in automatic federal budget cuts which will come into effect throughout what remains of this fis
Read moreHSBC full year 2012 results miss analysts' expectations
4th Mar 2013 07:06
FTSE 100-listed high street bank HSBC has reported a profit before tax of 20.6bn dollars (13.73bn pounds), down six per cent on 2011, including 5.2bn dollars of adverse fair value movements on own debt. The consensus estimate had been calling for a profit before tax of £14.272bn. The underlying pr
Read moreWeek ahead: Stage set for service sector PMIs and BoE
1st Mar 2013 16:56
The coming week will see the economic data flow ease up, although there are plenty of potentially market-moving events to watch out for. Foremost amongst those will be the monthly US employment report on Friday. It comes as investors are watching to see if consumption holds up Stateside following th
Read moreLondon close: Stocks rebound after upbeat US housing data
27th Feb 2013 17:08
Continuing upbeat data from the US housing sector boosted the FTSE 100 in afternoon trade on Wednesday, as stocks tracked Wall Street indices higher. Stocks sank yesterday (FTSE 100 down 1.3%, Cac 40 down 2.7% and FTSE MIB down 4.9%) in the wake of the Italian elections which revealed growing suppo
Read moreSector movers: UK banks gain despite FSA plan to increase competition
27th Feb 2013 15:46
Banking stocks in London were performing well on Wednesday afternoon, rebounding slightly after a political impasse in Italy hammered markets (especially cyclical stocks) the day before. RBS, Lloyds, Barclays and HSBC were in positive territory despite the news that the Financial Services Authority
Read moreLondon midday: Sentiment still fragile after inconclusive Italian elections
27th Feb 2013 11:28
Markets across Europe were staging a slight rebound on Wednesday but sentiment was still fragile as political instability in Italy spread fears that the Eurozone crisis could drag on for some time yet. Stocks sank yesterday (FTSE 100 down 1.3%, Cac 40 down 2.7% and FTSE MIB down 4.9%) in the wake o
Read moreBroker tips: HSBC, Weir, ITV
27th Feb 2013 10:23
Investec has upgraded its recommendation for global banking giant HSBC from 'hold' to 'add' and lifted its price target from 685p to 735p after the stock's recent underperformance. "After 46 disposals/closures in two years with a wide array of balance sheet/income statement effects, net net, we see
Read moreBroker snap: Investec upgrades HSBC as disposals continue
27th Feb 2013 10:05
Investec has upgraded its recommendation for global banking giant HSBC from 'hold' to 'add' after the stock's recent underperformance. "After RBS (rated 'sell'), HSBC has been the worst performing UK bank year-to-date," according to Investec analyst Ian Gordon. Including Wednesday's 1.26% gain (to
Read moreWednesday broker round-up UPDATE
27th Feb 2013 08:11
: Panmure Gordon reduces target price from 2159p to 1742p and reiterates its hold recommendation. Antofagasta: JP Morgan cuts target price from 1485p to 1400p, while retaining its overweight rating. Barclays: Numis raises target price from 351p to 400p and upgrades to buy. BT Group: UBS moves tar
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