London pre-open: Stocks to pull back ahead of data
31st May 2013 07:44
Markets are expected to open slightly lower this morning as traders take caution ahead of the weekend as they await a number of leading economic indicators from the US. City sources predict the FTSE 100 will open down 13 points from yesterday's close of 6,657. Stocks gained slightly yesterday des
Read moreLloyds sells US mortgage-backed securities for 3.3bn pounds
31st May 2013 07:06
UK banking group Lloyds is to sell a portfolio of US residential mortgage backed securities (RMBS) for 3.3bn pounds as it continues to dispose of non-core assets to boost capital. The portfolio has a book value of £2.7bn so the bank will pocket a gain of £540m before tax on the sale which will be u
Read moreThursday broker round-up UPDATE
30th May 2013 08:19
AMEC: Morgan Stanley reduces target price from 1220p to 1100p and retains an underweight rating. Amlin: JP Morgan takes target price from 360p to 400p maintaining an underweight rating. Brewin Dolphin: Canaccord Genuity raises target price from 230p to 285p and reiterates a buy recommendation. C
Read moreThursday newspaper round-up: Capita, Google, Mark Carney...
30th May 2013 06:48
The Telegraph says that outsourcing group Capita has secretly planned to shut down two O2 call centres and cut up to 1,200 jobs as part of the big deal it signed with the network provider last week. Financial Times says that Google is to launch a new gadget called the MotoX through its Motorola sub
Read moreWednesday newspaper round-up: Darty, UK banks, German banks...
29th May 2013 06:40
Electricals retailer Darty could slash jobs in an effort to cut costs in its core French region as it copes with a weaker economy, The Independent reports. The Guardian says that Britain's 'Big Four' banks - comprised of Lloyds, HSBC, RBS and Barclays - will have cut 189,000 jobs worldwide in just
Read moreLondon close: Stimulus hopes drive triple-digit gains for FTSE 100
28th May 2013 16:49
While hopes have now faded for a long-term continuation of stimulus measures in the US, speculation surrounding continued monetary easing in Europe and Japan sparked a huge surge on equity markets on Tuesday. After reaching a 13-year high on Wednesday, the FTSE 100 dropped sharply in the latter par
Read moreLondon midday: Stocks bounce back after recent sell-off
28th May 2013 11:20
UK markets were registering impressive gains on Tuesday morning with hopes of continued monetary easing in the Eurozone lifting sentiment as stocks bounced back following last week's sharp sell-off. After reaching a 13-year high on Wednesday, the FTSE 100 dropped sharply in the latter part of last
Read moreLondon open: Stocks surge as markets play catch up after long weekend
28th May 2013 08:30
UK markets surged in early trading on Tuesday with traders wasting no time in playing catch up as they returned to their desks following the three-day weekend. After reaching a 13-year high on Wednesday, the FTSE 100 dropped sharply in the latter part of last week on fears of a scaling back of stim
Read moreTuesday broker round-up UPDATE
28th May 2013 07:25
AG Barr: Investec increases target price from 562p to 591p, while downgrading from buy to add. Canaccord Genuity downgrades to hold with a target price of 570p. Amara Mining: Cantor Fitzgerald cuts target price from 81p to 63p and retains a buy recommendation. Compass Group: Nomura ups target pric
Read moreLondon close: Markets tumble as stimulus hopes fade
23rd May 2013 16:20
The recent bullish mood on equity markets quickly faded on Thursday as mixed messages from the Federal Reserve and a slowdown in China sparked a heavy sell-off on the FTSE 100, which lost more than two per cent of its value. Answering questions in Congress last night was Fed Chairman Ben Bernanke w
Read moreSector movers: Miners and banks fall as risk appetite wanes
23rd May 2013 15:12
Growth concerns hammered markets across the globe on Thursday, with banking and mining stocks bearing the brunt of the sell-off in London as the impressive year-to-date rally ran out of steam. As such, there were no sectors in the UK in positive territory by the afternoon, with every category eithe
Read moreLondon midday: Rally runs out of steam after Bernanke comments
23rd May 2013 11:32
Markets tumbled by around two per cent on Thursday morning as investors chose to take profits in the aftermath of comments from the head of the US Federal Reserve and a disappointing reading of manufacturing activity in China. The FTSE 100 had surged to a fresh 13-year high high of 6,840 the day be
Read moreBroker snap: Panmure upbeat about St James's Place after Lloyds sale
23rd May 2013 10:09
Shares in St James's Place (SJP) fell sharply on Thursday morning after Lloyds placed 77m shares in the wealth manager, but Panmure Gordon kept its 'buy' rating for the stock saying it still remains its top pick for 2013. Lloyds said the sale of a 15% stake follows the recent strong performance of
Read moreLondon open: Fed concerns, poor Chinese data spark sell-off
23rd May 2013 08:31
Worries about the Federal Reserve 'tapering' quantitative easing (QE) prematurely spooked markets on Thursday morning, along with a disappointing reading of manufacturing activity in China. The FTSE 100 had surged to a fresh 13-year high high of 6,840 the day before, its second-highest close in his
Read moreThursday newspaper round-up: Ocado, UK Mail, Hibu...
23rd May 2013 06:54
The Telegraph says that Waitrose head Mark Price is refusing to meet with Ocado chief Tim Steiner after the online grocery group agreed to help rival Morrison develop an online shopping website. According to The Times, British parcel delivery group UK Mail is close to signing a deal with the Depart
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