London close: Stocks fall on Eurozone outlook
24th Jul 2012 16:40
- Spanish bond yields continue to set new records - Moody's turns 'negative' on Germany, Netherlands and Luxembourg - Croda surges after first-half results Equity markets spent another day in the red on Tuesday as concerns over the Eurozone continued to dampen the mood; following the two per cent
Read moreLondon midday: Stocks lower as Spanish yields keep rising
24th Jul 2012 11:45
- Investors digest PMI data from China and Eurozone - Moody's turns 'negative' on Germany, Netherlands and Luxembourg - Spanish bond yields continue to set new records The Footsie was slightly lower by Tuesday lunchtime as Eurozone jitters continue to dampen equity markets. The index was swinging
Read moreBroker tips: UK banks, Carpetright, Dragon Oil
24th Jul 2012 10:49
Investec has reiterated its 'buy' ratings for all five major UK banks, saying that while the first-half results season will be 'unexciting', lenders are unlikely to provide a negative surprise. The broker labels Barclays (target price of 240p) as a "key value play" and its top pick in the sector. M
Read moreBroker snap: Investec positive on UK banks ahead of results reason
24th Jul 2012 09:55
Investec has reiterated its 'buy' ratings for all five major UK banks, saying that while the first-half results season will be 'unexciting', lenders are unlikely to provide a negative surprise. "With limited scope for negative surprise on impairments and with a predictable weak outlook for revenues
Read moreTuesday broker round-up
24th Jul 2012 08:15
Aberdeen Asset Management: Societe Generale upgrades to buy from hold. Aggreko: S&P Equity Research upgrades to buy. BT Group: Societe Generale raises target from 210p to 220p, hold rating kept. CareTech: Canaccord Genuity ups target from 166p to 194p, buy rating kept. Carpetright: Merchant Secu
Read moreLondon close: Time to cut the Gordian knot?
20th Jul 2012 17:07
- Spanish bond yields soar - Sicily´s non-collected receivables rise to EUR 15.7bn - Valencia asks Madrid for help - Resolution leads the Footsie lower Equity markets across Europe tanked on Friday afternoon, presumably on the back of concerns over Spain's financial health, with capital markets in
Read moreRegulators focus on EURIBOR manipulation
19th Jul 2012 07:37
After Barclays was fined 290m pounds for manipulating LIBOR, regulators are now focusing on its European equivalent, EURIBOR (euro-based intebank lending rate set in Brussels via the averaging of bank submissions). Barclays once again is to be the main culprit although the investigation also invol
Read moreThursday newspaper round-up: Britain, Sicily, BP
19th Jul 2012 06:51
In an interview with The Daily Telegraph, Mr Cameron says that he now expects the crisis in the eurozone to drag on for years, blighting the British economy. He indicates that the programme of spending cuts, initially planned to take five years, is now likely to last for the entire decade. Mr Camero
Read moreBroker tips: HSBC, Rio Tinto, Booker
18th Jul 2012 11:46
Galvan Research has labelled shares of global banking giant HSBC as a 'near-term sell' given the money-laundering issues that have weighed on the stock recently. "HSBC has been forced to swallow a vey large slice of humble pie following the rather damning issues with money laundering," said Andrew
Read moreBroker snap: Money-laundering issues mean HSBC's a 'sell'
18th Jul 2012 11:45
Galvan Research has labelled shares of global banking giant HSBC as a 'near-term sell' given the money-laundering issues that have weighed on the stock recently. HSBC released a statement on Tuesday admitting it "sometimes failed to meet the standards that regulators and customers expect" and said
Read moreWednesday newspaper round-up: HSBC, China, Fed
18th Jul 2012 07:08
HSBC was forced to apologise publicly today before the US Senate - and saw its compliance chief resign - over facilitating a multi-billion-dollar money-laundering operation for drug gangs, terrorists and rogue nations worldwide. Britain's biggest bank was "pervasively polluted for a long time" as it
Read moreHSBC issues grovelling apology
17th Jul 2012 15:22
Shamed banking giant HSBC has released a statement admitting it 'sometimes failed to meet the standards that regulators and customers expect' and said it 'will apologise' for its mistakes. With its tail firmly between its legs, the bank has been forced to say sorry after an investigation by the US
Read moreBanks rep reaches new low as HSBC drugs connection exposed
17th Jul 2012 09:08
HSBC, Europe's largest bank, ignored clear signs its Mexican division was being used as a conduit for billions of dollars of drug money to be transferred to the United States. That's the conclusion of a US Senate investigation into money laundering, drugs, and terrorist financing which also found H
Read moreAnother 11 banks hit by LIBOR scandal
13th Jul 2012 09:21
The LIBOR rate fixing scandal is spreading like wildfire just a few hours after it was revealed that US Secretary of the Treasury Tim Geithner wrote to the Bank of England back in 2008 regarding concerns about the possible distortion of the London Interbank Offered Rate (LIBOR) - the rate at which b
Read moreFTSE 100 movers: Miners plunge but Ashmore beats them to bottom spot
12th Jul 2012 14:39
Mining heavyweights Antofagasta, Rio Tinto, ENRC and BHP Billiton were all registering steep losses after Credit Suisse slashed target prices across the sector after lowering commodity price estimates. Rio Tinto announced this morning that its Chief Financial Officer is to retire at the end of next
Read more