Broker tips: Lloyds, Betfair, Safestore, Danone
18th Jun 2015 11:45
Credit Suisse has lifted its target price for shares of Lloyds Banking Group from 72p to 80p to reflect strong revenues and lower impairments in the first quarter. The Swiss broker maintained a 'neutral' rating on the stock, but said Lloyds remains its "preferred UK bank". It said the lender is the
Read moreLloyds boss urges industry to get behind ring-fencing
18th Jun 2015 09:59
The boss of Lloyds Banking Group has called on the banking industry to stop complaining about regulatory changes and back moves to ring-fence high street banks from their investment arms. Speaking at the British Bankers' Association retail banking conference on Thursday, chief executive Antonio Hort
Read moreLondon close: FTSE 100 drops to January lows on Greek uncertainty, traders await FOMC comments
17th Jun 2015 17:16
UK stocks fell for the fourth straight day on Wednesday with London's FTSE 100 finishing at its lowest level in five months as Greece continued to fight with creditors to secure a bailout deal. Investors were also showing caution ahead of the conclusion of a monetary policy meeting at the Federal Re
Read moreUK and German banks exposed to Greece, but risk is mitigated, says Nomura
16th Jun 2015 14:30
As uncertainty over Greek solvency weighs on European banks, Nomura considered exposures and price reactions. It said that based on last week's Bank for International Settlements data for the full-year 2014, UK and German banks have the greatest exposures, although the Japanese broker reckons the ri
Read moreLondon close: Stocks cut gains after Greek talks stall
11th Jun 2015 16:46
Stocks managed to hold on to their gains at the end of the session despite news the International Monetary Fund had pulled the technical team which was negotiating with Athens in Brussels. RBS was among the best performers in London after the government announced plans to sell down its stake, while
Read moreGradual relaxation of the UK bank levy still likely, says Nomura
11th Jun 2015 09:56
Although Chancellor George Osborne was noticeably silent on the matter of the UK bank levy on Wednesday, Nomura still expects to see a gradual relaxation. "With a majority Tory government now in place, we expect a gradual relaxation of the UK bank levy over time," it said. Nomura said it suspects t
Read moreLondon pre-open: Greece continues to be in focus, US retail sales on agenda
11th Jun 2015 07:30
London's blue chips are expected to ignore strong gains seen in the US and Asia overnight, as investors await further details of reports that Germany is weighing up a pay-per-reform deal with Greece. City sources expect the FTSE 100 will start the day around 11 points lower than Wednesday's close of
Read moreCiti sees continued improvement in Lloyds's net interest margins
8th Jun 2015 11:19
Lloyds's net interest margins will continue growing this year, driving improved forecasts for earnings per share, analysts at Citi believe. The lender's reduction of its headline cash ISA savings rate in the second quarter of 2015 will lead to a two basis point improvement in its NIM, while the full
Read moreUK bank levy change would benefit StanChart the most, says SocGen
8th Jun 2015 09:30
Commenting on a Sunday Times report that George Osborne is to lay the groundwork for a review of the bank levy, Societe Generale said that Standard Chartered was likely to be the biggest beneficiary. SocGen explained that the current method of calculation puts UK banks at a disadvantage when operati
Read moreMonday broker round-up
8th Jun 2015 08:04
Shire: Deutsche Bank reiterates buy recommendation and 6,000p target. Bellway: Deutsche Bank stays at hold with a 2,326p target price, Citi reiterates buy. Halfords: Deustche Bank remains at hold and ups target to 480p from 460p. Churchill Mining: Northland initiates coverage at 'speculative buy'.
Read moreBroker tips: Betfair, Lloyds
5th Jun 2015 17:31
Shares in Betfair fell 5% on Friday after Numis Securities cut its rating on the stock to 'sell' from 'reduce'. Numis said it normally reserves 'sell' recommendations for companies that have fundamental problems, but Betfair is not one of those. "However, we have been meekly increasing our share pr
Read moreLondon open: Traders watching Greece, US jobs
5th Jun 2015 09:26
UK stocks started the morning on the back foot after Greece missed the €300m payment it was due to make to the International Monetary Fund (IMF). As of 09:36 the FTSE 100 was falling by 53.64 points to 6,805.24. Instead, the troubled country has decided to pay its outstanding debt in one payment at
Read moreLloyds upgraded to 'buy' by HSBC
5th Jun 2015 07:35
HSBC upgraded Lloyd Banking Group to 'buy' from 'hold' and raised the target price to 103p from 87p. "Though unchanged, our earnings remain 9-10% higher than consensus reflecting a more positive stance on margin," it said. The sell-down of the government stake has acted as a glass ceiling on share
Read moreLondon pre-open: Stocks to slide as Greece misses €300m payment
5th Jun 2015 07:35
UK stocks were forecast to open on the back foot on Friday after Greece missed the €300m payment it was due to make to the International Monetary Fund (IMF). City sources predict the FTSE 100 will open around 16 points lower than Thursday's close of 6,859.24, which marked a 1.3% drop on the day. Th
Read moreFriday newspaper round-up: Osborne, Economic growth, Lloyds
5th Jun 2015 07:26
George Osborne will miss his deficit-reduction target by more than a year, the British Chambers of Commerce has warned, as it cut its UK growth forecast for 2015. In its second economic update this year, the business group said that the chancellor would need to extend his austerity programme "at lea
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