Lloyds cuts 1,390 jobs as part of revamp
28th Jan 2014 13:14
State-backed Lloyds Banking Group is shedding nearly 1,400 jobs as part of an overhaul aimed at returning it to the private sector. Lloyds, which is 33%-owned by the British taxpayer following its bailout in the financial crisis, said 1,080 jobs would go in its retail, risk and commercial banking a
Read moreCo-op Bank's former Deputy Chair left over plans to buy Lloyds branches
28th Jan 2014 10:58
Rodney Baker-Bates, the former Deputy Chairman of the Co-operative Bank, said he resigned because he was against its plans to buy hundreds of branches from Lloyds Banking Group. He told the parliament's Treasury Select Committee that he believed the proposed acquisition to be a "giant step too far"
Read moreLondon pre-open: FTSE to open sharply lower
27th Jan 2014 07:00
- FTSE to drop as risk appetite weakens - Japanese data comes in below expectations - All eyes on Wednesday's Fed meeting City sources predict the FTSE 100 will open 60 points below Friday's close of 6,663.7, with investors feeling risk averse ahead of a key week for markets and after Japanese data
Read moreSunday newspaper round-up: Supermarkets' property, Lloyds, UBM
26th Jan 2014 16:51
US activist investors are plotting to force Tesco, Sainsbury's and Morrisons to split off their property holdings, the Sunday Times reported. The plan, led by activist fund Elliott, would require them to put their property holdings into separate companies and to sell minority stakes on the stock exc
Read moreLondon close: Market sell-off leaves FTSE 100 at one-month low
24th Jan 2014 17:05
- Markets at lowest level since December 20th - EM currency weakness hits risk appetite - Aberdeen sinks sharply on EM worries after broker downgrade techMARK 2,789.84 -1.34% FTSE 100 6,663.74 -1.62% FTSE 250 15,703.44 -1.73% The FTSE 100 suffered triple-digit falls on Friday, dropping to levels n
Read moreFTSE 100 movers: Aberdeen dives after rating downgrade
24th Jan 2014 14:31
Fund manager Aberdeen fell sharply in today's session after receiving a ratings downgrade by Morgan Stanley to 'underweight'. The bank said that a deteriorating fund performance compounds challenging emerging-market fundamentals, 'increasing the risk of negative revisions and a further multiple de-r
Read moreBroker tips: Aberdeen, Lloyds, Pearson, Whitbread
24th Jan 2014 12:11
Fund manager Aberdeen was a heavy faller on the FTSE 100 on Friday after a ratings downgrade by Morgan Stanley from 'equal weight' to 'underweight'. The bank said that a "deteriorating" fund performance at Aberdeen compounds challenging fundamentals in the emerging markets (EM). This "increases th
Read moreLondon midday: UK markets hit two-week low as downgrades hit blue chips
24th Jan 2014 11:20
- Aberdeen, Lloyds, easyJet, Whitbread hit by downgrades - US stock futures point to another sell-off - Carney hints at scrapping forward guidance techMARK 2,800.83 -0.95% FTSE 100 6,697.93 -1.11% FTSE 250 15,732.15 -1.55% UK markets were trading down over one per cent by Friday lunchtime with a n
Read moreBroker snap: Lloyds cut to 'hold' by Investec
24th Jan 2014 11:05
Investec has cut its rating for Lloyds Banking Group from 'buy' to 'hold', saying that expectations for 2013 are still "slightly frothy". The target price has been left at 85p. Analyst Ian Gordon played down concerns about Ed Milliaband's suggestion for UK banks to sell branches in an effort to li
Read moreFriday broker round-up UPDATE
24th Jan 2014 08:35
Aberdeen Asset Management: Morgan Stanley reduces target price from 492p to 393p and downgrades from equal-weight to underweight. Afren: Morgan Stanley moves target price from 210p to 220p retaining an overweight rating. Ashmore Group: Morgan Stanley cuts target price from 410p to 365p and reitera
Read moreWednesday broker round-up UPDATE
22nd Jan 2014 08:33
Admiral Group: Numis raises target price from 1425p to 1710p upgrading from add to buy. African Barrick Gold: Deutsche Bank moves target price from 180p to 190p and keeps a hold recommendation. RBC Capital takes target price from 220p to 250p and maintains an outperform rating. JP Morgan ups target
Read moreLondon close: FTSE 100 edges higher after quiet session
20th Jan 2014 16:45
- FTSE 100 within touching distance of 14-year high - Banks fall after Deutsche Bank's Q4 loss - Chinese growth slowed down in Q4 - UK outlook improves - HSBC highlights potential risks from too-low inflation readings techMARK 2,853.67 +0.09% FTSE 100 6,836.73 +0.11% FTSE 250 16,227.11 +0.25% It
Read moreBroker snap: Goldman highlights HSBC as top pick among UK banks
20th Jan 2014 16:37
Goldman Sachs has named HSBC as its preferred pick among UK banks on a long-term perspective, after analysing the financials across the sector since 1990. Analysts from the US firm said that UK banks under their coverage have booked £44.5bn of notable and non-recurring charges since 1990, equivalen
Read moreLondon midday: Markets tread water on quiet day, but banks fall
20th Jan 2014 11:38
- Volumes light with Wall Street closed for MLK Day - Chinese GDP growth slows down - UK business optimism improves, IMF to raise UK forecasts - Deutsche Bank surprises with Q4 loss techMARK 2,851.04 0.00% FTSE 100 6,831.82 +0.04% FTSE 250 16,212.26 +0.16% Stocks were rangebound on Monday morning
Read moreMonday broker round-up UPDATE
20th Jan 2014 08:41
Admiral Group: Canaccord Genuity raises target price from 1160p to 1400p and upgrades to hold. African Barrick Gold: Westhouse Securities lowers target price from 170p to 160p and downgrades to sell. Alkane Energy: Liberum Capital downgrades to hold with a target price of 44p. Allocate Software:
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