London close: Banks, financials and property fly amid BoE rate-cut chatter
7th Jul 2016 16:38
(ShareCast News) - UK shares flew north with Associated British Foods leading blue chips on a chipper update and chased by a peloton of banking, financial and property stocks on rising expectations of a Bank of England rate-cut next week. "Today marks the first day since the (non-binding Brexit) ref
Read moreMorgan Stanley queries real-economy demand for lending amid Brexit
6th Jul 2016 18:23
(ShareCast News) - Investment bank Morgan Stanley has questioned whether there will be real-economy demand to borrow from banks given Brexit-induced uncertainty, regardless of Bank of England's recent bid to stoke such lending. As such, Morgan Stanley, which has taken a cautious post-Brexit stance o
Read moreLloyds to cut 640 jobs and close 23 branches
29th Jun 2016 12:16
(ShareCast News) - Lloyds Banking Group is to cut about 640 jobs and close 23 branches as part of its programme to cut costs and restructure the bank. Britain's largest mortgage lender will cut jobs in information technology and back-office operations in London, Edinburgh, Manchester and Bristol, ac
Read moreTuesday broker round-up:
28th Jun 2016 16:16
(ShareCast News) - Just Eat: Goldman Sachs reiterates buy with a target price of 670p. G4S: Credit Suisse keeps at outperform with a 210p target. Bellway: Goldman Sachs keeps at neutral with a target price of 1715p. Northgate: Numis reiterates to buy with a target of 500p. Babcock: Credit Suisse
Read moreRBS and Lloyds sale on hold while £8bn falls of share price
28th Jun 2016 11:10
(ShareCast News) - The government has scrapped plans to sell its shares in the Royal Bank of Scotland (RBS) and Lloyds Banking Group on Tuesday due to Brexit, while the result wiped out almost £8bn on the banks' share price on Monday. Shares in RBS and Lloyds have plummeted since the European Refere
Read moreBroker tips: ITV, Randgold Resources, Fresnillo, UK banks
27th Jun 2016 17:00
(ShareCast News) - Nothing had changed with respect to ITV's fundamentals following Brexit despite the approximately 20% share price drop on 24 July, analysts at Liberum said, as they stood by their 'buy' recommendation and 375p target on the stock and singled it out as a 'top-pick'. That was true e
Read moreMortgage lending resilient in May but likely to fall post referendum - CML
27th Jun 2016 10:37
(ShareCast News) - Mortgage lending remained resilient in May as banks and building societies lent more than in April and than in May last year. Gross mortgage lending swelled to £18.2bn in May, the Council of Mortgage Lenders estimated, up 3.6% from the preceding month and 13.6% higher than this ti
Read moreSocGen downgrades European banks, reviews ratings on UK banks after Brexit
27th Jun 2016 09:56
(ShareCast News) - Banks in London took another beating on Monday as investors mulled over the implications of the UK's decision to leave the European Union, with ratings downgrades across the board. Societe Generale was among those issuing downgrades. It cut its stance on Royal Bank of Scotland to
Read moreRBS and Barclays share trading halts after falls on Monday
27th Jun 2016 09:36
(ShareCast News) - Trading in Royal Bank of Scotland and Barclays shares was automatically halted in London on Monday morning on volatility after their share prices continued to crater. RBS was temporarily halted after falling 14.2%, while Barclays was down 11.5%. On Friday, Barclays shares were sus
Read moreSunday newspaper round-up: Rate cut, City exodus, pensions, LSE, RBS and Lloyds
26th Jun 2016 15:03
(ShareCast News) - The Bank of England is set to slash interest rates and even restart its money-printing programme to stimulate a slowing economy after the vote for Brexit, the Sunday Times reported. A cut in Bank rate is now viewed as a near-certainty by investors, having been considered an even-m
Read morePrivate investors using Brexit selloff as buying opportunity, says Hargreaves Lansdown
24th Jun 2016 14:15
(ShareCast News) - Private investors are using Friday's Brexit-fuelled stock market selloff as a buying opportunity, according to Hargreaves Lansdown's senior analyst, Laith Khalaf. He said 80% of the trades placed through HL's share dealing service were purchases, compared to 60% on an average day.
Read moreFinancials, Fixed-line telecoms pace gains
20th Jun 2016 15:48
(ShareCast News) - Life insurers, Fixed line telecommunications, Banks and financial services paced jumped after a flurry of polls over the weekend pointed to renewed momentum for the 'Remain' camp. The news sent the Footsie to its largest one-day advance since February, with just three of the bench
Read moreSunday newspaper round-up: Brexit bets, airlines, CMA probes, Lloyds lock-up
19th Jun 2016 17:54
(ShareCast News) - Currency traders are betting sterling will slip to an all-time low against the euro of €1.05-1.20 if Britain votes to leave the European Union, eclipsing Black Wednesday in 1992. Currency contracts have recently suggested that investors believe the pound will probably tumble again
Read moreLloyds wins Supreme Court case over high-interest bonds
16th Jun 2016 10:34
(ShareCast News) - The UK Supreme Court has ruled in favour of Lloyds Banking Group in a long-standing dispute over whether the bank was within its rights to buy back high-yielding bonds at par value. Lloyds said on Thursday that the Court had rejected an appeal by bondholders who argued that the re
Read moreFinancials, insurers pace drops
13th Jun 2016 11:51
(ShareCast News) - The latest Brexit poll results sent traders scurrying for cover as they revealed another small lurch towards the UK leaving the European Union on 23 June. Although most analysts appeared wary of trusting the results of polls, especially those of the on-line variety, on Monday book
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