Friday newspaper round-up: Moodys, Xstrata, Apple
22nd Jun 2012 06:53
Britain's high street lenders last night had their credit ratings cut by Moody's, the ratings agency, as part of a major worldwide downgrade of bank ratings. The review was announced months ago, meaning any impact is likely to be muted as the downgrades were already priced in by the market. All four
Read moreLondon close: Gloomy US data dents stocks further
21st Jun 2012 16:24
- Philly Fed manufacturing and other US data disappoints - No QE3 boost from the Fed - Chinese and Eurozone PMIs paint gloomy picture The Footsie closed near its lowest levels of the day on Thursday afternoon after a raft of economic indicators from the US disappointed, just one day after the Feder
Read moreSector movers: Rolls-Royce lifts defence stocks after MoD contract
18th Jun 2012 15:37
A bumper contract for Rolls-Royce has boosted the stock today, meaning that the aerospace and defence sector was one of the best performers in afternoon trade. The global power systems group announced on Monday that it has bagged a massive contract with the Ministry of Defence worth over £1bn to su
Read moreBroker tips: UK banks, SIG, William Hill
18th Jun 2012 12:37
Despite last week's announcement of stimulus measures for UK banks, Nomura has maintained its 'neutral' rating on the sector, saying that the outlook for lenders is still difficult. "While in the near term banks will be driven by risk appetite, sovereign risks and de-leveraging, we continue to see
Read moreBroker snap: Nomura stays cautious about UK banks
18th Jun 2012 09:50
Despite last week's announcement of stimulus measures for UK banks, Nomura has maintained its 'neutral' rating on the sector, saying that the outlook for lenders is still difficult. During the Mansion House speech on Thursday night, authorities announced two key measures to reduce the cost of fundi
Read moreMonday broker round-up - UPDATE
18th Jun 2012 08:20
Anglo American: UBS cuts target from 3,260p to 3,100p, buy recommendation maintained. Barclays: AlphaValue downgrades from buy to add, target kept at 230.2p; Nomura keeps neutral rating and 268p target. British American Tobacco: Citigroup retains buy rating. Essar Energy: Citigroup initiates cove
Read moreSunday share tips: Renew Holdings, City of London Group, Banks
17th Jun 2012 12:38
Maintenance work might not be glamorous, but in times of austerity a business whose work comes in regardless of economic conditions stands out from the crowd. Misunderstood Renew Holdings is widely associated with its 200-year history in construction, but this is misguided as the company is focused
Read moreSector movers: Increased risk benefits banks, miners
12th Jun 2012 19:34
Banks and miners were making gains on Tuesday as risk appetite increased on the back of hopes that the Federal Reserve (Fed) may announce further stimulus next week at its policy meeting. Chicago Fed President Charles Evans today threw his weight behind the central bank kick-starting the world's la
Read moreLondon close: Gains erased on uncertainty over Spain
11th Jun 2012 17:17
- Stocks lose gains after strong start - Spanish requests up to 100bn for troubled banks - Investors eye Greek elections The Footsie finished flat on Monday despite surging from the off after the initial euphoria over a Spanish request for European aid faded quickly. Equity markets across the cont
Read moreFTSE 100 movers: Financials push top tier index higher
11th Jun 2012 14:41
Financial stocks were tracking their European counterparts higher on Monday, as the continent's banking industry celebrated Spain's request for aid. Barclays, Lloyds and RBS were among the highest risers, helped by Oriel Securities which kept buy ratings on all three stocks today. HSBC was also ga
Read moreMonday broker round-up
11th Jun 2012 09:37
Antofagasta: RBS Capital Markets downgrades to underperform. Ashtead: Jefferies keeps buy recommendation and 300p target. Barclays: Bank of America Merrill Lynch keeps buy rating and 370p target; Oriel Securities reiterates buy recommendation and 285p target. BP: Nomura retains neutral stance and
Read moreMarks and Spencer to launch in-store banking service
8th Jun 2012 13:45
Rumours of plans by retail heavyweight Marks and Spencer to launch an in-store banking service this summer, backed by HSBC, have been confirmed. The retail chain is set to open 50 branches of the bank in its stores over the next 24 months, with the first due to open in firm's flagship store in Mar
Read moreHSBC to offload Greek brokerage unit
7th Jun 2012 15:27
Global banking group HSBC is to sell its Greek equities broking business to its management for an undisclosed sum. HSBC Bank has entered into an agreement to offload HSBC Securities to a group of investors led by the unit's Managing Director Nikos Pantelakis. The business provides equity broking s
Read moreLondon close: Stocks surge after Draghi comments
6th Jun 2012 16:39
- ECB keeps rates unchanged; future rate cut eyed - Cameron, Obama call for 'immediate plan' - Miners and financials jump, ABG rockets The Footsie finished over two per cent higher on Wednesday afternoon as miners and financial stocks surged on speculation of future changes to monetary policy in Eu
Read moreLondon midday: Stocks jump ahead of ECB rate decision
6th Jun 2012 11:39
- All eyes on the ECB - UK construction PMI falls in May - Man Group, miners and banks lead the rise London's blue chip index was firmly higher by Wednesday lunchtime as investors looked ahead to an interest rate decision in Europe due out this afternoon. While the European Central Bank (ECB) is g
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