HBOS probe may lead to bans for bosses
16th Nov 2015 10:15
(ShareCast News) - The bosses of bailed-out bank HBOS may be banned from working in the City of London after it emerged that they allegedly put pressure on auditing firm KPMG to fudge accounts. An official investigation by the Bank of England's Prudential Regulation Authority and Financial Conduct A
Read moreSunday newspaper round-up: Paris reaction, banking fallout, HBOS, Rolls
15th Nov 2015 15:57
(ShareCast News) - Analysts and strategists have predicted European and Asian stock markets will fall sharply but not lead to a major crash on Monday amid fears that the terror attacks in Paris will hurt Europe's economic recovery. European markets are expected to lose 2% when trading begins, with t
Read moreSector movers: Utilities downgraded, banks hit by FSB capital rules
9th Nov 2015 16:05
(ShareCast News) - The utilities sector was the worst performer on Monday, with banks starting well but losing ground and fund managers well bought. Banks got off to a good start early in the session, with Barclays, RBS, HSBC and Standard Chartered all powering higher as, following last week's robus
Read moreLondon close: Stocks rally ahead of Fed's interest rate decision
28th Oct 2015 16:14
(ShareCast News) - The London stock market closed higher on Wednesday before the Federal Reserve's decision on interest rates. The FTSE ended up 72.53 points to 6,437.80. The Fed releases its policy decision at 1800 GMT and is expected to keep rates at 0.25% amid low inflation and concerns about th
Read moreBroker tips: Meggitt, Lloyds, Petra Diamonds
28th Oct 2015 13:32
(ShareCast News) - Meggitt was left reeling in the third quarter by a sharp decline in energy revenues, a worsening 'business-mix' and lower aftermarket sales for civilian and military spares, Investec said. That led the broker to place its recommendation and target price for the shares of the globa
Read moreFTSE 100 movers: Glaxo jumps on results; Meggitt tumbles after profit warning
28th Oct 2015 13:10
(ShareCast News) - London's FTSE 100 index was up 0.8% to 6,415.65 at 1400 GMT as investors awaited the Federal Reserve's policy announcement, which is due after the European close. Pharmaceuticals giant GlaxoSmithKline was the standout gainer after its third-quarter revenue and core earnings per sh
Read moreNomura, Goldman focus on Lloyds´s guidance after Q3 numbers
28th Oct 2015 11:45
(ShareCast News) - Analysts were not particularly bothered by Lloyds´s weaker than expected third quarter profits, but the lender´s guidance might be another matter. A 17% drop in 'other operating income' led to a 6% miss on underlying pre-tax profits. Nevertheless, that was compensated for by a lea
Read moreLloyds books additional PPI charge as third quarter profit misses estimates
28th Oct 2015 08:06
(ShareCast News) - Banking giant Lloyds Banking Group reported a decline in third quarter underlying profit after it was hit by a further charge for insurance mis-selling. In the three months to the end of September, the FTSE 100 group said its underlying profit declined 8.7% year-on-year to £1.97bn
Read moreUK bank sector lacking competition but CMA report falls short of major changes
22nd Oct 2015 07:51
(ShareCast News) - Consumers and small businesses are still suffering from a lack of competition in the UK banking sector, competition authorities said in a report on Thursday that called for banks to retain free bank accounts and making proposals to force banks to help customers to shop around for
Read moreBank of England sets GBP2.2bn retail bank ring-fencing requirement
15th Oct 2015 09:35
(ShareCast News) - Proposals by the Bank of England would require the UK's big banks to hold up to £3.3bn of capital under new ring-fencing rules designed to make their retail operations more resilient to potential market crashes. From 1 January 2019, banks with core deposits greater than £25bn from
Read moreLloyds chairman says no 'compelling' argument to stay in EU
14th Oct 2015 13:31
(ShareCast News) - Lloyds Banking Group's chairman said there was not any "compelling" argument for Britain to stay in the European Union unless there was a significant reform to the relationship. Lord Blackwell, a former head of the policy unit of Prime Ministers Margaret Thatcher and John Major, o
Read moreTuesday broker round-up
13th Oct 2015 09:49
(ShareCast News) - Ladbrokes: Citigroup upgrades to neutral, raises target price to 110.00p. Jupiter Fund Management: RBC Capital Markets upgrades to outperform, bumps up target price to 475.00p. Jefferies reiterates to buy, lifts target price to 493.00p. Glaxosmithkline: JP Morgan Cazenove upgrade
Read moreSunday share tips: Imperial Innovations, Lloyds
11th Oct 2015 14:46
(ShareCast News) - Imperial Innovations has invested £198m in dozens of companies since its foundation, in 1986. Despite some rare successes, such as with biotech outfit Circassia, overall the company has shown little ambition, preferring to invest in small and immature outfits. That is unlike its U
Read moreLondon midday: Rally in mining stocks boost equities
9th Oct 2015 11:13
(ShareCast News) - The FTSE advanced on Friday at midday, driven by a rally in mining stocks as metal prices rose. Glencore led mining shares higher as investors welcomed its decision to cut 500,000 tonnes or around a third of its annual zinc production as it looks to combat declining prices. "This
Read moreLondon open: Stocks rise after BoE, ECB and Fed meeting minutes
9th Oct 2015 08:35
(ShareCast News) - London stocks were in positive territory on Friday as investors continued to analyse policy meeting minutes from the Bank of England, European Central Bank and the Federal Reserve. The BoE on Thursday voted 8-1 to maintain rates at 0.50% and its asset purchase programme at £375bn,
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