ICAP's global broking revenue hit by weaker markets
1st Apr 2014 07:12
- Slower market activity hurts broking revenues - Global broking fell by 14 per cent between February and March - Full-year results are expected to be in line Interdealer broker ICAP said overall results for the year are expected to be in line with current market consensus forecasts, as it battles
Read moreThursday broker round-up UPDATE
20th Mar 2014 09:19
Antofagasta: Deutsche Bank cuts target price from 770p to 735p and downgrades to sell. Investec cuts target price from 753p to 726p keeping its sell recommendation. Ashmore Group: HSBC Holdings lowers target price from 410p to 400p retaining its overweight rating. Avacta Group: Numis shifts target
Read moreWednesday broker round-up UPDATE
19th Mar 2014 09:00
Afren: Canaccord Genuity lowers target price from 185p to 180p and stays with its buy recommendation. Antofagasta: Westhouse Securities reduces target price from 1060p to 985p staying with its buy recommendation. Credit Suisse downgrades from neutral to underperform with a target price of 750p. JP
Read moreWednesday tips round-up: Tullett Prebon, Vesuvius
5th Mar 2014 07:20
Despite cutting costs, margins at inter-dealer broker (IDB) Tullett Prebon fell last year. That came as revenues dropped by six per cent which together with the above pressured operating profits eight per cent lower. The main drivers of those trends were the increased focus by some banks on cutting
Read moreBroker tips: Barclays, Prudential, ICAP, Thomas Cook
11th Feb 2014 12:48
Numis Securities has maintained a 'hold' rating and 274p target price for banking giant Barclays after the company's annual profits came in lighter than expectations. However, despite the bottom-line 'miss', Analyst Mike Trippitt said he was "encouraged" by the progress the company has made on its
Read moreGoldman upgrades ICAP after recent falls
11th Feb 2014 10:45
Goldman Sachs has upgraded its rating for interdealer broker ICAP from 'sell' to 'neutral', saying that cyclical weakness is now being reflected in its share price. "Shares in ICAP have recently underperformed peers in the diversified financial sector as volume weakness has weighed on investor expe
Read moreTuesday broker round-up UPDATE
11th Feb 2014 09:41
Bellway: Jefferies takes target price from 2085p to 2186p and stays with its buy recommendation. BT Group: Jefferies shifts target price from 435p to 440p and keeps a buy recommendation. Carnival: Jefferies ups target price from 2000p to 2050p, while downgrading to underperform. Deutsche Bank rais
Read moreLondon pre-open: Stocks seen higher ahead of Yellen
11th Feb 2014 07:25
UK markets are expected to open with small gains on Tuesday following a decent performance by US and Asian stocks overnight as investors ready themselves for comments from new Federal Reserve Chair Janet Yellen. City sources predict the FTSE 100 will open 27 points higher than yesterday's close o
Read moreThursday broker round-up UPDATE
6th Feb 2014 09:23
ARM Holdings: HSBC reduces target price from 1120p to 1080p and stays with its overweight rating. Avon Rubber: WH Ireland raises target price from 650p to 765p and stays with its buy recommendation. Balfour Beatty: Liberum Capital ups target price from 300p to 350p retaining its buy recommendation
Read moreThursday tips round-up: Icap, GW Pharmaceuticals
6th Feb 2014 06:56
Investors fail to appreciate the long-term potential in shares of interdealer broker Icap. This may be somewhat understandable due to the changing nature of the business as it adapts to new regulations and given how many moving parts there are at the moment. Essentially, voice broking for banks stil
Read moreFTSE 250 movers: Balfour Beatty boosted by RBC upgrade
5th Feb 2014 14:14
Infrastructure services group Balfour Beatty was among the best performers on the FTSE 250 on Wednesday after RBC Capital Markets upgraded its rating by two notches from 'underperform' to 'outperform', saying that the stock is geared to the recovery in the UK. "We believe that the outlook in its en
Read moreLondon midday: AB Foods and RSA lead markets higher
5th Feb 2014 11:21
- Upside limited after UK, Eurozone data disappoints - Investors cautious ahead of US data, policy decisions - AB Foods rises, RSA appoints Hester as CEO - Hargreaves Lansdown drops after H1 results techMARK 2,756.02 +0.36% FTSE 100 6,465.16 +0.25% FTSE 250 15,589.91 +0.32% UK markets snapped a fi
Read moreLondon open: Stocks higher after five-day losing streak
5th Feb 2014 08:25
- Upside limited ahead of data, policy decisions - Hargreaves Lansdown drops after H1 results - RSA appoints Stephen Hester as CEO techMARK 2,762.78 +0.61% FTSE 100 6,471.41 +0.34% FTSE 250 15,594.12 +0.35% UK markets opened slightly higher on Wednesday morning after five straight days of declines
Read moreICAP reports fall in third-quarter revenue
5th Feb 2014 07:42
Interdealer broker ICAP reported a six per cent drop in third-quarter revenue due to a challenging market. The UK company said its voice broking division had been hurt by reduced activity by investment banks and disruptive new regulations in the swaps market. The US Federal Reserve's decision to
Read moreIntermediate Capital raising funds quicker than some analysts expected
21st Jan 2014 12:00
Specialist finance group Intermediate Capital saw a reduced number of realisations on its funds during the third quarter, while at the same time achieving another record year of fund-raising. It also inked an agreement with Nomura Holdings, which will enable the Group to access the Japanese marke
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