Government sells down Lloyds Bank stake
9th Jan 2017 07:17
(ShareCast News) - The UK government announced on Monday that its stake in Lloyds Banking Group fell below 6% after it sold 700m shares late on Friday. UK Financial Investments Limited, the government vehicle set up to control stakes in the banks bailed out during the credit crunch in 2008, now
Read moreGovernment sells down Lloyds Bank stake below 6pc
9th Jan 2017 07:17
(ShareCast News) - The UK government announced on Monday that its stake in Lloyds Banking Group fell below 6% after it sold 700m shares late on Friday. UK Financial Investments Limited, the government vehicle set up to control taxpayers' stakes in the banks bailed out during the credit crunch in
Read moreSunday newspaper round-up: France, Brexit, Russia
8th Jan 2017 20:51
(ShareCast News) - France is to beef up cyber-security amid growing fears that Russian hackers could try to influence its upcoming presidential election following claims that Moscow orchestrated US computer attacks to help Donald Trump. Jean-Yves Le Drian, the defence minister, said French int
Read moreBarclays ups Lloyds to 'overweight'
6th Jan 2017 10:48
(ShareCast News) - Barclays upgraded Lloyds Banking Group to 'overweight' from 'equalweight' and pushed the target price to 75p from 55p, saying returns are supported by the planned MBNA acquisition and an improved net interest margin outlook. "We see Lloyds making a consistent around 13% return on
Read moreBroker Dowgate picks top large and small companies for 2017
5th Jan 2017 14:59
(ShareCast News) - Broker Dowgate picked out its top three share tips for 2017 for both small and large cap companies, including Lloyds Banking Group, Rightmove and Satellite Solutions. For small caps the City firm plumped for Be Heard Group, Franchises Brands and Satellite Solutions. Digital marke
Read moreLloyds to buy MBNA credit card business for £1.9bn
20th Dec 2016 07:06
(ShareCast News) - Lloyd's Bank said it was buying credit card business MBNA from Bank of America for £1.9bn. The price includes £0.8bn of acquired equity and assumes £240m for future PPI claims. Lloyds said it would take it's share of the UK credit card market to 26% from 15%. The deal will delive
Read moreLloyds not meeting no-frills guidelines for UK customers
12th Dec 2016 17:03
(ShareCast News) - Lloyds banking Group has failed to meet "fee-free" guidelines for the majority of its basic account holders, according to Treasury figures. In 2014, Britain's nine biggest banks agreed on new rules designed to widen access to banking and prevent vulnerable customers from incurring
Read moreMonday broker round-up
12th Dec 2016 15:55
(ShareCast News) - Greencore: Berenberg reiterates buy with a target price of 350p. Talk Talk: UBS reiterates neutral, 160p target. Barclays: JP Morgan reiterates neutral with a 215p target. Bunzl: Deutsche Bank reiterates buy with a 2450p target. Old Mutual: Barclays downgrades to equal-weight w
Read moreRBS fails stress tests, Barclays and StanChart stumble over hurdles
30th Nov 2016 07:33
(ShareCast News) - Royal Bank of Scotland has been forced to submit plans to improve its capital position after failing the Bank of England's annual stress tests, while rivals Barclays and Standard Chartered stumbled over some hurdles but not badly enough to require raising new funds. Despite these
Read moreCredit Suisse sees big Barclays rerating, neutral on Lloyds and HSBC
29th Nov 2016 10:02
(ShareCast News) - Credit Suisse initiated coverage on a number of UK banks on Tuesday, as it noted the regulatory agenda is heating up, starting with the stress test results on Wednesday, for which it reckons banks are "reasonably well placed". It started Barclays at 'outperform' with a 260p price
Read moreFTSE 100 movers: Banks and retailers pace drop
28th Nov 2016 17:08
(ShareCast News) - Banks and retailers were among the weakest segments of the market at the start of the week. Share price falls in Italian lenders ahead of the 4 December referendum on constitutional reform appeared to crystallise worries about that country´s banking system and fed negative sentime
Read moreWednesday broker round-up
23rd Nov 2016 14:29
(ShareCast News) - Anglo American: UBS reiterates neutral with a target price of 950p. Lloyds: Macquarie reiterates outperform with a 65p target. Intertek: Barclays stays at equal-weight with a 3700p target. Barclays: HSBC reiterates buy with a 190p target. Homeserve: UBS maintains neutral with a
Read moreLondon close: Miners propel FTSE 100 higher as industrial metals surge
22nd Nov 2016 16:34
(ShareCast News) - London equities ended Tuesday on a sharply higher note with major miners storming ahead in tandem with soaring industrial metals prices, and followed by a string of banks and insurers. US interest rate-touch utilities were firmly higher, too. FTSE 100 closed the session up 0.62%
Read moreUK government cuts Lloyds stake to just under 8%
22nd Nov 2016 07:41
(ShareCast News) - The UK government has cut its stake in Lloyds Banking Group to just under 8%. Back in October, the government had cut its stake to just under 9%, or 6.42bn shares from 7.1bn previously. The government began selling its shares in Lloyds - which was bailed out by taxpayers during t
Read moreUBS cautious on European banks
21st Nov 2016 10:25
(ShareCast News) - The recent "remarkable" rise in long-end interest rates and swap rates constituted a remarkable improvement in banks´ operating environment, but the political and economic landscape continued to be uncertain, UBS said. Analyst Jason Napier said he saw risks to consensus revenue es
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