Bank of England introduces new bailout rules
8th Nov 2016 13:09
(ShareCast News) - Bank of England has given UK lenders an additional two years to accrue enough funds so that they will not be reliant on taxpayer bailouts if they fail. "The new rules will be introduced in two phases," Bank of England said in a statement on its website. "Banks will be obliged to
Read moreFriday broker round-up
28th Oct 2016 15:33
(ShareCast News) - Barclays: JP Morgan keeps at neutral with a target price of 190p. Standard Life: Jefferies stays at buy, 391p target. Senior: Berenberg reiterates buy with a 220p target. Imperial Brands: Deutsche Bank reiterates buy with a 4600p target. ITV: Credit Suisse reiterates outperform
Read moreSector movers: Volatility and rise in bond yields proves boon for banks
27th Oct 2016 15:30
(ShareCast News) - Banks paced gains as yields on longer-term government bonds continued to move higher on both sides of the Pond. In parallel, the odds of a 25 basis point rate hike by the US Federal Reserve at its 14 December policy meeting moved up to 78.5%, according to the CME´s Fed Watch tool.
Read moreThursday broker round-up
27th Oct 2016 12:29
(ShareCast News) - Debenhams: JP Morgan keeps at underweight with a target price of 54p. AA: Berenberg stays at buy, 315p target. National Express: RBC reiterates outperform with a 405p target. LLoyds: UBS reiterates buy with a 67p target. GlaxoSmithKline: Credit Suisse reiterates neutral with a
Read moreBanks' mortgage approvals rebound from low, BBA data shows
26th Oct 2016 09:12
(ShareCast News) - Mortgage approvals from high street banks rebounded slightly in September, according to data from high street banks, after hitting a 19-month low in August. The British Bankers' Association (BBA) revealed mortgage approval numbers in September of 38,252, which was up from 37,241 i
Read moreLloyds Banking Group sets aside £1bn more for PPI in third quarter
26th Oct 2016 07:06
(ShareCast News) - Lloyds Banking Group set aside a further provision of £1bn for compensation for mis-selling payment protection insurance in the third quarter of the year, but the bank reaffirmed full year guidance despite a dip in net income and profits. Net income of £2.85bn in the three months
Read moreWednesday preview: Lloyds reports third quarter trading update
25th Oct 2016 12:44
(ShareCast News) - Lloyds Banking Group reports its third quarter trading update on Thursday as the bank undergoes a major restructuring. Earlier in October, the bank announced plans to slash 1,230 jobs as part of its overhaul to reduce costs and improve returns for shareholders. The lender first an
Read moreMonday newspaper round-up: Barclays, Deutsche Bank, BAE, PPI provisions
24th Oct 2016 07:05
(ShareCast News) - Barclays is locked in negotiations with its African subsidiary about the details of their divorce, which analysts estimate could cost the British bank as much as £1bn. Having announced in March that it planned to sell down its controlling stake in its Johannesburg-listed African o
Read moreSunday newspaper round-up: GDP, RBS, Anglo, William Hill, bank exit
23rd Oct 2016 15:02
(ShareCast News) - In the first official reading on how the whole UK economy has performed since the Brexit vote, the Office for National Statistics (ONS) is expected to say growth more than halved from 0.7% in the second quarter to 0.3% between July and September. According to economists polled by
Read moreLloyds Banking Group to cut 1,230 jobs
12th Oct 2016 11:46
(ShareCast News) - Lloyds Banking Group plans to axe 1,230 jobs as it looks to cut costs and improve shareholder returns as part of its three-year strategy. The bank said on Wednesday that it is cutting jobs in group operations, and the retail, marketing and finance divisions. It said in a statemen
Read moreTuesday broker round-up
11th Oct 2016 14:54
(ShareCast News) - Easyjet: Deutsche Bank keeps at hold with a target price of 1000p. BP: HSBC reiterates buy, 570p target. Petrofac: Credit Suisse keeps at outperform with a 1100p target. British American Tobacco: Jefferies reiterates buy with a 6000p target. Royal Dutch Shell: HSBC keeps at bu
Read moreCiti reiterates sell on Lloyds, cuts target
10th Oct 2016 14:14
(ShareCast News) - The Financial Conduct Authority's consultation paper 16/20 released in August would see Lloyds book further charges linked to payment protection insurance mis-selling, analysts at Citi said. Together with a likely swing into a pension deficit in the third quarter of 2016, that mea
Read moreMonday broker round-up
10th Oct 2016 13:30
(ShareCast News) - Easyjet: Societe Generale downgrades to sell with a target price of 820p. BP: Barclays reiterates overweight, 600p target. Lloyds: Citigroup keeps at sell with a 48p target. Unilever: Jefferies reiterates hold with a 3530p target. Royal Dutch Shell: Barclays keeps at overweight
Read moreGovernment reopens Lloyds shares to institutions but not individuals
7th Oct 2016 14:54
(ShareCast News) - Chancellor Philip Hammond has announced that the government is resuming the sale of its stake in Lloyds but is only making them available to institutions rather than retail investors, contrary to previous plans. Chancellor of Exchequer Philip Hammond said the time wasn't right for
Read moreBank of England confirms two-layered bank stress tests for 2017
3rd Oct 2016 10:16
(ShareCast News) - The Bank of England will subject Barclays, HSBC, Lloyds, Nationwide, Royal Bank of Scotland, Santander and Standard Chartered to a two-part stress test in 2017. The BoE, which is still analysing the results of the 2016 stress tests before scheduled feedback to the banks next mo
Read more