RBS 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
Read moreBank 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
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