FTSE 100 movers: German ruling boosts financials
12th Sep 2012 13:48
UK banking stocks advanced after Germany's high court approved the Eurozone's new rescue fund, the European Stability Mechanism (ESM), with Lloyds, Royal Bank of Scotland, Barclays, Standard Chartered and HSBC were making gains by this afternoon. RBS was also benefiting after Liberum Capital lifte
Read moreLondon midday: Stocks rally after German vote on ESM
12th Sep 2012 11:48
- Stocks jump after ESM vote in Germany - Spain considering ECB bond purchases - Banks lead the rally The FTSE 100 had swung into positive territory by Wednesday lunchtime with banking stocks in the lead after Germany's high court approved the Eurozone's new rescue fund, the European Stability Mec
Read moreHSBC to offload US insurance manufacturing unit
6th Sep 2012 16:13
Global banking group HSBC is to sell off the insurance manufacturing business of a US subsidiary to Enstar Group. The company said on Thursday afternoon that its indirectly owned division, Household Insurance Group Holding Company, has entered into an agreement to sell the unit to Enstar for a tota
Read moreLondon close: Stocks erase losses on ECB, Fed speculation
24th Aug 2012 16:43
- ECB considering target bands for yields - Merkel wants Greece to stay in Eurozone - UK Q2 GDP revised up. The Footsie rallied in late trading to finish flat on Friday after rumours of a European plan for bonds yields. According to Reuters, the European Central Bank (ECB) is looking at setting yi
Read moreFTSE 100 Movers: Miners drag footsie lower
24th Aug 2012 15:38
Mining stocks were heavy fallers with Kazakhmys, Rio Tinto, ENRC, Antofagasta, Anglo American, Vedanta, BHP Billiton and Randgold falling sharply, tracking various metal prices lower. ??Anglo American dropped after Jefferies downgraded the stock this morning from 'buy' to 'hold' despite yesterday'
Read moreBroker tips: HSBC, Anglo American, National Grid
24th Aug 2012 14:41
Investec has retained it 'hold' recommendation and 590p target price for global banking giant HSBC, highlighting the recent rating outlook downgrade by Standard and Poor's and settlement rumours in the US. "Whereas we acknowledge that neither of these developments are helpful, there really are much
Read moreLondon midday: Stocks down despite revision to UK GDP
24th Aug 2012 11:46
- UK Q2 GDP revised upwards - Greece in focus as Samaras meets Merkel - US QE hopes fading fast UK stocks were volatile in morning trade on Friday but remained firmly in negative territory in spite of some upwards revision to second-quarter gross domestic product (GDP) data in the UK. The state of
Read moreBroker snap: Investec lists reasons to 'switch out of HSBC'
24th Aug 2012 11:20
Investec has retained it 'hold' recommendation and 590p target price for global banking giant HSBC, highlighting the recent rating outlook change by Standard and Poor's and settlement rumours in the US. S&P has downgraded its outlook for HSBC from 'stable' to 'negative' as the bank continues to be
Read moreHSBC discussing settlement with US regulators
24th Aug 2012 09:49
As US regulators turn up the heat in accusations of international banks that have allegedly laundered funds of sanctioned nations, global lender HSBC appears to be looking for a way out. The bank is apparently in talks with the Manhattan District Attorney to reach a settlement as early as Septembe
Read moreLondon open: Footsie falls before GDP data
24th Aug 2012 08:27
- Leader to discuss Greek extension - Markets nervous ahead of UK GDP - Anglo American leads miners lower London's benchmark index slumped in early trading on Friday with mining stocks once again dominating the downward trend ahead of meetings of Eurozone leaders and the release of economic growth
Read moreUS regulators call in banks over LIBOR scandal
16th Aug 2012 12:45
The LIBOR scandal is once again hitting the headlines with seven banks set to be called in for questioning in the US over the alleged rigging of inter-bank lending rates. HSBC, Royal Bank of Scotland, Barclays, Citigroup, Deutsche Bank, JPMorgan and UBS have all been subpoenaed by the Attorneys Ge
Read moreBroker tips: HSBC, StanChart, FirstGroup
15th Aug 2012 11:28
Investec has moved its recommendation on banking giant HSBC from 'buy' to 'hold', saying that there is limited upside left in the stock. The shares are trading just 2% below 12-month highs in spite of a "wide assortment of gathering headwinds." Investec said that the first-half results showed a "c
Read moreBroker snap: Investec downgrades HSBC, sees more upside elsewhere
15th Aug 2012 10:21
Investec has moved its recommendation on banking giant HSBC from 'buy' to 'hold', saying that there is limited upside left in the stock. "Despite recent relative share price underperformance, we would argue that HSBC's shares have held up reasonably well in the context of its broad-based money laun
Read moreWednesday broker round-up
15th Aug 2012 09:47
AB Foods: UBS raises target from 1,330p to 1,400p, buy rating unchanged. AVEVA: Jefferies ups target from 1,800p to 2,300p, buy recommendation maintained. Balfour Beatty: Investec maintains sell rating and 210p target. CLS Holdings: Peel Hunt ups target from 639p to 720p, hold rating kept. CRH:
Read moreHSBC 'no decision' on Bao Viet
9th Aug 2012 11:38
Europe's largest bank HSBC says it is 'reviewing its options' over a sale of its stake in Vietnamese insurance firm Bao Viet Holdings. Currently HSBC holds an 18% stake in the high profile company but press reports have suggested it is being considered for disposal. HSBC says: "no decision has bee
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