Broker snap: StanChart rebound lifts banks higher
8th Aug 2012 16:23
Banking stocks were trading broadly higher on Wednesday as gains for heavyweight lender Standard Chartered were enough to offset weakness in the wider sector, with HSBC, Lloyds, Barclays and RBS trading in the red. Following a massive 16% tumble yesterday, emerging markets-focused bank StanChart wa
Read moreBarclays plans 'bonus overhaul'
6th Aug 2012 10:47
There are widespread reports that Barclays is planning an overhaul of its bonus system, that could see payouts withheld until bankers leave the company. The stories, which reference unnamed sources, say Barclays is considering following in the footsteps of HSBC, which recently put forward plans to
Read moreBroker tips: Weir, Drax, HSBC
1st Aug 2012 13:22
Analysts at Credit Suisse have today raised their target price on Weir to 1850p from 1750p before, while keeping their overweight rating unchanged. That for three reasons: Firstly, the company´s estimated 2013 earnings per share (EPS) forecasts have declined 17% year-to-date better reflecting pres
Read moreNomura retains buy on HSBC on potential for cost savings
1st Aug 2012 12:25
The following is from a research note published yesterday evening by analysts at Nomura. "We remain positive on HSBC post results. We saw two principal take-aways from the 1H numbers. Firstly, the group is controlling costs, which suggests positive operating leverage into 2013, with the potential
Read moreTuesday broker round-up
31st Jul 2012 09:19
Dignity: N+1 Brewin upgrades to add, target raised from 880p to 950p. Diploma: Jefferies reiterates buy rating and 510p target. Elementis: N+1 Brewin upgrades to buy, target upped from 220p to 230p. EnQuest: HSBC upgrades to overweight, target lifted from 135p to 143p. Faroe Petroleum: Nomura ra
Read moreLondon close: Stocks jump on central bank hopes; IAG surges
30th Jul 2012 17:05
- IAG leads Footsie higher; banks, miners follow suit - ECB expected to act soon - QE3 hopes in the US drive gains UK stocks started the week well as risk appetite increased on hopes that European policy-makers will announce measures this week to stem the crisis and the US central bank will act to
Read moreFTSE 100 movers: Miners and financials lead the way
30th Jul 2012 14:23
The banking and resources sectors were among the best performers on Monday as risk appetite increased on the back of stimulus hopes. Barclays, RBS, ENRC and Xstrata were high risers by mid-afternoon. Global banking group HSBC was along among them after seeing an 11% rise in reported pre-tax profit
Read moreLondon midday: Stimulus hopes drive risk appetite
30th Jul 2012 12:03
- Juncker says leaders have 'no time to lose' - Markets await policy decisions by ECB and Fed - Yields fall at Italian bond auction European stock markets were making moderate gains on Monday morning as risk appetite increased on the back of hopes of central bank action this week in Europe and the
Read moreHSBC's dirty laundry to cost a packet
30th Jul 2012 09:19
Europe's largest bank HSBC reported a jump in profits as management begged forgiveness for the money laundering scandal that has engulfed the bank. The bank posted a reported profit before tax of $12.7bn, 11% higher than in the first half of 2011. This included $4.3bn from disposals as the bank c
Read moreSector movers: Barclays provides a lift to the banking sector
27th Jul 2012 16:01
Banks were among the best performing stocks on Friday afternoon, helped by the well-received interim results from Barclays and some reassuring remarks by European officials about the debt crisis. Underlying pre-tax profits came in at £4.2bn, 11% ahead of consensus estimates, with investment banking
Read moreLondon midday: Stocks flat in Draghi aftermath
27th Jul 2012 11:37
- Markets still digesting Draghi's comments - Barclays leads the risers on the Footsie after first-half beat - 'Fiscal-cliff' worries weigh on sentiment London's stocks swung between gains and losses on Friday morning and were trading broadly flat by lunchtime, as investors continue to ponder over
Read moreWeek Ahead: HSBC, BP, BoE rate decision, US jobs ...
27th Jul 2012 09:24
Though not as busy as the week just ended, next week has its fair share of big events, including results from BP, the Bank of England's interest rate decision and US jobs data for July. On Monday, under-fire banking giant HSBC and household goods titan Reckitt Benckiser get the week underway. HSBC
Read moreLondon open: Stocks edge higher, Barclays in demand
27th Jul 2012 09:00
- Peripheral bond yields ease - Markets still digesting Draghi comments - Barclays up after first-half beat The Footsie edged higher in early trading on Friday with Barclays providing a lift after its interim results. Markets were still reacting to yesterday's comments by Mario Draghi, who said tha
Read moreHSBC to sell out of card-processing joint venture
27th Jul 2012 07:37
Global banking titan HSBC announced that it is to offload its 44 per cent stake in Global Payments Asia-Pacific (GRAP), the card-processing joint venture with partner Global Payments. GRAP was created in 2006 when HSBC sold a 56% shareholding to Global Payments. The sale of HSBC's 44% stake will se
Read moreHSBC slapped with fine following failings in Mexican division
25th Jul 2012 15:05
Shamed banking giant HSBC has been hit with a fine amounting to around 27.5m dollars which was imposed by the National Banking and Securities Commission (CNBV) in relation to the bank's non-compliance with anti-money laundering systems and controls. The fine was for the late reporting of 1,729 un
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