Sunday newspaper round-up: Insurance, Sports Direct, Tesco
6th Apr 2014 08:57
The Financial Conduct Authority ignored Bank of England warnings that it had created a false market in insurance shares for more than five hours, the Sunday Times writes. A newspaper report that the FCA planned a clampdown on insurance policies going back up to 30 years caused shares of Legal & Gene
Read moreUS demand for Cocos takes Lloyds ECN swaps to 5.4bn pounds
3rd Apr 2014 11:54
Lloyds Banking Group has received institutional demand to swap 1.6bn dollars worth of its Enhanced Capital Notes (ECNs) for new additional Tier 1 (AT1) capital bonds. ECNs were bonds issued to help bail out the bank in 2009 and are also known as contingent convertibles or Cocos. The bank will have
Read moreBroker tips: Weir, Lloyds, SABMiller, Babcock
1st Apr 2014 12:52
Canaccord Genuity has retained its 'buy' recommendation for engineer Weir Group on the back of a possible merger with Finnish peer Metso, saying that "this deal has the potential to be very exciting". "Our first thoughts are on a strategic basis, a deal would make considerable sense with scope for
Read moreTuesday broker round-up UPDATE
1st Apr 2014 09:39
African Barrick Gold: Deutsche Bank raises target price from 240p to 310p and keeps a hold recommendation. African Minerals: Deutsche Bank lowers target price from 399p to 382p, while its buy recommendation is kept. Allergy Therapeutics: Panmure Gordon ups target price from 16p to 25p and retains
Read moreAberdeen completes acquisition of Scottish Widows Investment Partnership
1st Apr 2014 09:31
Aberdeen Asset Management is set to complete the acquisition of Scottish Widows Investment Partnership (SWIP) after receiving regulatory approval. SWIP and its related private equity fund management businesses are being purchased from Lloyds Banking Group for £550m. SWIP had assets under manageme
Read moreNumis upgrades Lloyds to 'buy' after recent falls
1st Apr 2014 09:04
The recent weakness in Lloyds' shares has prompted Numis Securities to upgrade its rating on the stock to 'buy'. As of Monday's closing price, the stock had fallen 12.5% since hitting a 52-week closing high in mid-January. It has now dropped 5.6% over the past five days alone since the government s
Read moreSunday newspaper round-up: FCA, bank competition, Glaxo
30th Mar 2014 16:53
Big insurance companies want Martin Wheatley, Chief Executive of the Financial Conduct Authority, to resign after the watchdog sent their shares into freefall by making a misleading announcement about an industry probe, the Sunday Times said. The Association of British Insurers is expected to write
Read moreLondon close: Stocks finish in the red as miners, banks, Crimea drag
27th Mar 2014 16:59
- FTSE closes 16.98 points lower at 6,588.32 - Feb UK retail sales rise by more than expected - US jobless claims fall more than expected techMARK 2,763.04 -0.70% FTSE 100 6,588.32 -0.26% FTSE 250 16,202.17 -0.31% Stocks ended Thursday's session broadly lower as both the banking and mining sectors
Read moreUK lawmakers probe alleged political pressure on Lloyds branch sale
27th Mar 2014 15:26
UK Chancellor George Osborne has been asked by the parliamentary treasury committee if he or other ministers put pressure on the Co-operative Group or Lloyds Banking Group over the sale of 632 Lloyds branches. The Co-op was in talks with Lloyds to buy its branches but the deal was scrapped last yea
Read moreLondon close: Flat finish for FTSE after earlier gains
26th Mar 2014 16:59
- FTSE closes flat at 6,605.30 - Insurance stocks recover - US 'core' durable goods orders fall techMARK 2,782.65 +0.32% FTSE 100 6,605.30 +0.01% FTSE 250 16,252.92 +0.62% It was a flat finish for the top tier index on Wednesday as investors balanced mixed US data, increased prospects of monetary
Read moreFTSE 100 movers: Standard Life rises on Ignis deal
26th Mar 2014 15:24
Standard Life was making decent gains after agreeing on a deal with Phoenix Group to sell the latter's Ignis Asset Management division. Standard Life said the 390m pound acquisition will enhance earnings from the first full year of ownership. RSA is holding near the top of the leaderboard, part of
Read moreSector movers: Lloyds leads banks lower after government share sale
26th Mar 2014 15:16
UK banking stocks were among the worst performers in London on Wednesday with state-backed lender Lloyds leading the decline after the government sold another tranche of its stake. The agency that oversees the taxpayers' stake in the bank, UK Financial Investments, reduced the Treasury's sharehold
Read moreDebt-laden UK economy is reason to avoid Lloyds Banking Group, says Allianz
26th Mar 2014 14:16
Allianz Global Investors claims the fragile UK economy should deter investors from buying into Lloyds Banking Group, despite the government's sale of another chunk of its stake in the bank. Lloyds, which is undergoing an overhaul to focus it on lending to UK individuals and businesses, had finite s
Read moreBroker tips: Lloyds, RBS, Carnival...
26th Mar 2014 12:25
Investec has reiterated its 'buy' recommendation on Lloyds after the government sold a further tranche of shares in the state-backed lender on Wednesday. The broker, which kept an 85p target price for the shares, said that Lloyds offers "reasonable upside for a relatively low-risk stock". Analyst I
Read moreLondon midday: Insurance stocks push markets higher, but banks fall
26th Mar 2014 11:42
- FTSE 100 at highest since March 11th - Insurers provide a lift, Standard Life and Phoenix in focus - Lloyds drops after government sale, RBS downgraded - ECB, PBoC stimulus hopes and US data drive gains techMARK 2,787.86 +0.51% FTSE 100 6,630.79 +0.39% FTSE 250 16,273.83 +0.75% UK stocks were at
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