Broker snap: Credit Suisse ups targets for most diversified financials
20th Jan 2014 12:55
Credit Suisse on Monday raised its price targets for a broad swathe of the European Diversified Financials sector, benefiting several UK managers in the process, albeit not all. The main reason for its changes was the fact that the sector is the most sensitive to rising 10-year US Treasury yields. T
Read moreICAP appoints Ken Pigaga as group Chief Operating Officer
26th Nov 2013 12:13
Deal broker ICAP has announced that Ken Pigaga has been appointed Chief Operating Officer and will assume immediate responsibility for the operation of the group's governance and control frameworks. This will include oversight over risk and compliance, as well as responsibility for the control asp
Read moreMonday broker round-up UPDATE
25th Nov 2013 08:00
African Barrick Gold: Goldman Sachs ups target price from 110p to 140p, but still recommends selling. Alternative Asset Opps: Westhouse Securities initiates with a buy recommendation. Amino Technology: Northland Capital cuts target price from 110p to 100p and downgrades from buy to hold. Asian Pl
Read moreTom Albanese stocks up on Vedanta shares
20th Nov 2013 16:14
Tom Albanese, a big player in the mining industry, has bought a round of shares in Vedanta Resources worth 298,290 pounds. Albanese, who is the former chief of Rio Tinto, purchased 30,500 shares at 978p each. In September the director took up an advisory role as Chairman of Vedanta Resources Ho
Read moreThursday tips round-up: British Land, Barratt Developments, ICAP
14th Nov 2013 07:38
British Land is preparing the ground work for the day when interest rates begin to rise in the UK. It has cut its average cost of debt to 4.2 per cent from 4.6 per cent and three quarters of it is now fixed for the next five years, slightly more than usual. Furthermore, it has been gradually shiftin
Read moreFTSE 250 movers: Fenner in the red after profits slide
13th Nov 2013 15:53
Reinforced polymer technology firm Fenner reported a sharp drop in full-year pre-tax profit, after reporting difficult trading conditions in the first half, but said its performance improved strongly in the second half as sentiment picks up. The maker of industrial belting products pre-tax profits
Read moreLondon midday: Stocks fall after BoE Inflation Report
13th Nov 2013 12:17
- BoE Inflation Report released - UK unemployment rate falls techMARK 2,627.78 -0.76% FTSE 100 6,651.35 -1.12% FTSE 250 15,219.66 -0.97% Stocks edged lower on Wednesday as investors digested the Bank of England's (BoE) quarterly Inflation Report and jobless data. In the Inflation Report today, t
Read moreICAP lifts full year profit guidance after in-line third quarter
13th Nov 2013 10:09
- H1 revenue down 1 per cent as forecast - Full year PBT expected "marginally" ahead - Three civil Libor claims in US remain Interdealer broker ICAP saw first half revenues slip slightly, in line with forecasts, but said it expected full year profits would be "marginally" ahead of last year's. Re
Read moreThursday newspaper round-up: Banks, Twitter, Africa
7th Nov 2013 07:27
One hundred of the world's largest banks could be dismantled or taken over by more successful rivals within the next couple of years, according to a report by McKinsey & Co.. About a fifth of the world's top 500 banks are at risk of becoming a takeover target due to their underperformance and inabil
Read moreTuesday newspaper round-up: BHP Billiton, Pay-outs, Merlin Entertainments
22nd Oct 2013 07:29
BHP Billiton is in demand this morning after the Australian miner said it was lifting its full-year iron ore production forecast due to resurgent demand in China. The miner's shares have risen 1.7 per cent after it said it now expects to produce 212mn tonnes of iron ore this financial year against p
Read moreRBS sends records to regulator in FX probe
10th Oct 2013 12:23
UK banking group Royal Bank of Scotland (RBS) has sent copies of instant messages from a former currency trader to the Financial Conduct Authority as part of a probe into a possible manipulation of the foreign exchange (FX) markets. The news comes in the wake of the LIBOR rate-setting scandal that
Read moreFriday broker round-up UPDATE
27th Sep 2013 08:48
Admiral Group: Berenberg ups target price from 1060p to 1080p, but still recommends selling. Amlin: Berenberg reduces target price from 422p to 398p and downgrades to sell. Atkins (WS): JP Morgan increases target price from 1298p to 1348p and maintains an overweight rating. AZ Electronic Material
Read moreThursday broker round-up UPDATE
26th Sep 2013 08:22
African Barrick Gold: Deutsche Bank ups target price from 137p to 145p and maintains a hold recommendation. African Minerals: Macquarie reduces target price from 307p to 280p and reiterates an outperform rating. Deutsche Bank cuts target price from 450p to 423p, while its buy recommendation is kept
Read moreThursday newspaper round-up: Property developers, ICAP, Centrica
26th Sep 2013 07:09
Three former interdealer brokers including one dubbed "Lord Libor" were charged with wire fraud and conspiracy on Wednesday as their former employer ICAP was revealed by US and UK authorities as a linchpin in the global rate-rigging scandal. The London-based interdealer broker paid 55m pounds to set
Read moreICAP to pay 55m pounds to regulators in LIBOR scandal
25th Sep 2013 15:59
Interdealer broker ICAP has agreed to pay 55m pounds to UK and US regulators as part of the long-running scandal over the alleged manipulation of the London Interbank Offered Rate (LIBOR) by three former employees between 2006 and 2011. The US Department of Justice announced on Wednesday that these
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