Credit Suisse sees downside risk at TSB
9th Jul 2014 10:42
Credit Suisse sees downside in the shares of TSB Banking Group as it started coverage of the stock with an 'underperform' rating. Analysts said they have initiated with a negative stance on the newly-listed Lloyds spin-off "despite the headline attraction of a simple and legacy-free way to tap into
Read moreSector movers: Barclays lawsuit and StanChart update sink banking stocks
26th Jun 2014 15:14
Claims of fraud and a disappointing trading update pushed UK banking stocks firmly lower on Thursday. Shares in Barclays plunged after a lawsuit was filed by the New York State Attorney General against the group's "dark pool" trading division. The complaint was made specifically in relation to it
Read moreSunday newspaper round-up: Tesco, AstraZeneca, Asos
22nd Jun 2014 13:02
Some of Tesco's biggest shareholders have complained to the retailer's senior independent director (Sid) about its strategy and management, the Sunday Times said. An unidentified top 10 shareholder said it expressed its concerns with the Sid, Patrick Cescau, and not Tesco's Chairman, Sir Richard Bro
Read moreFTSE 100 movers: Shire leaps after rejecting bid from AbbVie
20th Jun 2014 15:32
Shares in Shire surged after the pharmaceutical group rejected a £27bn takeover approach by AbbVie, saying it "fundamentally undervalued" the company and its prospects. Panmure Gordon hiked its target price for the stock on Friday, saying that the AbbVie's proposal was "barely adequate". The broke
Read moreTSB shares surge on stock-market debut
20th Jun 2014 12:13
TSB's shares raced ahead on their first day of conditional dealings on the London Stock Exchange on Friday, with parent group Lloyds hailing it an "important further step" to meeting its commitments of its bailout in 2009. The initial public offering (IPO) was priced at 260p a share, above the mid-
Read moreLondon midday: Stocks rise as M&A boosts Shire, TSB jumps on debut
20th Jun 2014 11:39
- FTSE 100 at one-week high - Shire jumps after rejecting £27bn AbbVie proposal - TSB rises strongly after IPO - Iran still in the spotlight as Obama sends advisers techMARK 2,849.46 +1.26% FTSE 100 6,827.82 +0.29% FTSE 250 15,761.52 +0.49% UK stocks were making gains on Friday as yet more M&A fev
Read moreLondon pre-open: Flat start ahead of May public finance figures
20th Jun 2014 07:40
A flat start is expected on the FTSE 100, although there could be a very modest gain of a point or two, following yesterday's close of 6,808.11. That follows a mixed finish in the US last night and as investors balance Wednesday's Fed statement with nerves about the situation in Iraq. According
Read moreFriday newspaper round-up: Iraq, Shire, Pound
20th Jun 2014 07:29
President Obama is ready to use American air power in "targeted and precise military action" against Islamists who have captured vast swathes of northern Iraq and are now threatening the capital. Mr Obama made the dramatic announcement yesterday after meeting his national security advisers. He said
Read moreLloyds to sell 35% of TSB in flotation
20th Jun 2014 06:40
Lloyds Banking Group is to sell off a bigger stake in TSB than expected in response to "significant investor demand". Lloyds, which is 25%-owned by the taxpayer, is now planning to offload 175m shares, or 35%, in the 631 branches that form TSB when conditional dealing of the high street banking arm
Read moreLloyds may sell larger stake in TSB IPO - UPDATE
19th Jun 2014 09:55
Lloyds Banking Group is reportedly looking to sell a bigger stake in TSB than previously expected when the high street banking arm floats on the stock market on Friday. Lloyds, which is disposing of the 631 branches that form TSB as a condition of its state bailout in 2009, said earlier this month
Read moreSantander removes Lloyds Banking Group from 'core buy' list
18th Jun 2014 15:32
Santander Global Banking & Markets has blamed a possible UK interest rate rise for its waning enthusiasm towards Lloyds Banking Group. The broker is removing Lloyds from its 'core buy' list, on which the UK bank has been for most of 2012, 2013 and 2014, although it is keeping a 'buy' recommendation
Read moreFTSE 100 movers: Shire rises on reports of bid preparation
17th Jun 2014 15:37
Pharmaceutical group Shire was making gains after Reuters reported that it has hired investment bank Citi as an advisor as it braces itself for takeover bids. The company's Irish tax base and its mid-sized market value of £22bn makes it a prime acquisition target, analysts told the news agency. Whi
Read moreTSB narrows price range for IPO, lifts mid-point
17th Jun 2014 13:41
TSB has narrowed the price range for its upcoming flotation to between 250p and 270p per share, valuing the challenger bank at 1.3bn pounds or more, according to sources familiar with the matter cited by Reuters. One source said the sale was "well-oversubscribed" within that range, the news agency
Read moreTuesday broker round-up UPDATE
17th Jun 2014 09:45
Aquarius Platinum: UBS cuts target price from 41p to 24p and keeps a neutral rating. BAE Systems: Berenberg initiates with a target price of 455p and a hold recommendation. British Land: Deutsche Bank ups target price from 520p to 580p, but still recommends selling. Capital & Counties: Deutsche B
Read moreLondon close: Investors still confident as record highs beckon
9th Jun 2014 16:57
- Housebuilders lift markets higher - US jobs data and ECB action boosting sentiment - US equities at fresh record highs - Lloyds prices TSB IPO well below book value techMARK 2,857.29 +0.20% FTSE 100 6,875.00 +0.24% FTSE 250 16,218.36 -0.09% Stocks saw some slight follow-through buying from last
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