London 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
Read moreTuesday broker round-up UPDATE
26th Feb 2013 07:27
Andor Technology: Investec shifts target price from 460p to 500p and keeps a buy recommendation. Associated British Foods: Nomura revises target price from 1790p to 1800p, while its neutral rating remains unchanged. Barclays: Espirito Santo raises target price from 346p to 418p and reiterates its
Read moreLondon midday: Banks lift markets higher despite UK downgrade
25th Feb 2013 11:47
The FTSE 100 was making decent gains on Monday morning in spite of Moody's stripping the UK of its prized 'AAA' credit rating, as sentiment was lifted by central-bank stimulus speculation in the US and Japan. Over the last few days, Federal Reserve Chairman Ben Bernanke showed his commitment to the
Read moreLondon open: Stocks gains as market shrugs off UK downgrade
25th Feb 2013 08:19
Markets managed to shrug off the UK ratings downgrade and some disappointing economic data from China on Monday morning, as stocks advanced on the back of optimism surrounding central-bank stimulus. "Signs from the US and Japan indicate they will continue with their monetary policy for some time ye
Read moreFriday broker round-up UPDATE
22nd Feb 2013 07:12
Antofagasta: RBC upgrades from underperform to outperform. Ashmore Group: Citigroup raises target price from 330p to 355p upgrading to neutral. JP Morgan ups target price from 361p to 413p and maintains a neutral rating. Babcock International: Citigroup revises target price from 965p to 1185p and
Read moreLondon close: Footsie gains one per cent on German ZEW, M&A activity
19th Feb 2013 17:00
The FTSE 100 jumped one per cent on Tuesday after a better-than-expected reading of German confidence and increased M&A activity in the US. The ZEW Institute's index, which measures economic sentiment in the Eurozone's largest economy, surged to 48.2 in February, ahead of last month's reading of 31
Read moreHSBC sells Panama unit to Bancolombia
19th Feb 2013 14:09
HSBC Holdings has agreed to sell its Panama unit to Bancolombia for 2.1bn dollars - three times the net asset value, the bank said in a statement Tuesday. The transaction of HSBC Bank Panama will be subject to regulatory approvals and is expected to be completed by the third quarter of 2013. Unaud
Read moreLondon midday: German sentiment data buoys stocks
19th Feb 2013 11:22
A better-than-expected reading of German confidence pushed stock markets firmly into positive territory by Tuesday lunchtime. The ZEW Institute's index, which measures economic sentiment in the Eurozone's largest economy, surged to 48.2 in February, ahead of last month's reading of 31.5 surpassing
Read moreLondon open: Markets cautious ahead of German ZEW survey
19th Feb 2013 08:22
Stock markets began Tuesday's session in a cautious fashion ahead of a closely-watched reading of German confidence this morning. The ZEW index which measures economic sentiment in Germany is expected to have risen to 35 in February, up from 31.5 last month. An increase this month would be the six
Read moreTuesday broker round-up UPDATE
19th Feb 2013 07:30
Admiral Group: Investec takes target price from 570p to 582p, but still recommends selling. Advanced Medical Solutions: Investec upgrades from hold to buy with a target price of 68p. African Barrick Gold: Canaccord Genuity reduces target price from 360p to 305p keeping a hold rating. Anglo Americ
Read moreThursday newspaper round-up: HSBC, Anglo Irish Bank, UK deficit...
7th Feb 2013 06:54
HSBC's biggest ever restructuring had been necessary to simplify the bank's complex structure which had made it attractive to money-laundering criminals, its chief executive said. Stuart Gulliver said HSBC's structure "was not fit for purpose for a modern world", adding that the restructure he launc
Read moreLondon close: Footsie drops 100 points on political uncertainty in Europe
4th Feb 2013 16:32
Increased political risk in the Eurozone presented a good opportunity for traders to take profits on Monday, as investors made the most of the recent surge on stock markets worldwide. The FTSE 100 dropped 100 points today, a fall of around 1.6%. This follows the impressive 6.4% gain seen last month
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