Broker snap: Barclays upgrades Lloyds and RBS as re-privatisation talk ramp up
12th Jun 2013 11:03
Barclays Capital (BarCap) has raised both its ratings for part-nationalised lenders Lloyds Banking Group and Royal Bank of Scotland (RBS) as the government begins to come up with a plan to re-privatise the banks following their bailout in 2008. BarCap said that the key investment consideration when
Read moreWednesday broker round-up UPDATE
12th Jun 2013 07:55
Aberdeen Asset Management: Canaccord Genuity cuts target price from 460p to 440p, while leaving its buy recommendation unchanged. ASOS: Canaccord Genuity downgrades to hold with a target price of 3400p. BT Group: Credit Suisse increases target price from 300p to 350p and maintains an outperform ra
Read moreWednesday newspaper round-up: Lloyds, Afren, BoE...
12th Jun 2013 06:30
After The Times' undercover investigation found that Lloyds was mis-handling complaints about PPI mis-selling, the Financial Conduct Authority has asked the paper to hand over information for a report that is to be published this summer. The Guardian says that 80% of shareholders at oil group Afren
Read moreLondon close: FTSE 100 down one per cent as volatility continues
11th Jun 2013 16:41
Rising government bond yields, falling commodity prices and an underwhelming statement from the Bank of Japan (BoJ) saw some heavy falls on equity markets on Tuesday. The FTSE 100 closed down 60 points at 6,340, but finished well off its intraday low of 6,283 as US bond yields pared earlier gains.
Read moreFTSE 100 movers: Aberdeen drops as market volatility continues
11th Jun 2013 14:25
Financial and mining stocks bore the brunt of the sell-off on equity indices on Tuesday with Aberdeen Asset Management leading the way lower as it continued to be hit by the wider market volatility, particularly due to the company's large exposure to the emerging markets. Matt Basi, the Head of UK
Read moreLondon midday: Financials, miners pull FTSE 100 to seven-week low
11th Jun 2013 11:23
Falling commodity prices and rising government bond yields resulted in a sell-off on Tuesday morning, as the recent volatility on equity markets continued, sending the FTSE 100 to a seven-week low. The FTSE 100 was trading around the 6,300 markby midday, the first time it has fallen to this level s
Read moreLondon open: Stocks fall as ECB gets ready to defend bond-buying plan
11th Jun 2013 08:36
Markets opened firmly in the red on Tuesday morning as traders awaited a courtroom battle in which the European Central Bank (ECB) is expected to defend its bond-buying programme. The two-day hearing into the legality of the ECB's Outright Monetary Transactions programme begins today in the German
Read moreTuesday newspaper round-up: Lloyds, Glencore, G4S...
11th Jun 2013 06:35
An investigation by The Times into Lloyds has shown that contractors at its largest PPI complaint handling unit were "taught how to play the system to the detriment of clients". They allegedly were told to fake PPI information on loan agreements and "turn a blind eye to the risk of fraud", the paper
Read morePolicy Exchange proposes plan to re-privatise Lloyds and RBS
10th Jun 2013 11:07
Think-tank Policy exchange on Monday unveiled a proposal by which the Treasury could eliminate its stakes in Royal Bank of Scotland (RBS) and Lloyds by the time of the next elections in what would amount, it claims, to the largest privatisation ever in the United Kingdom. Under their plan each adul
Read moreBroker tips: Lloyds, AstraZeneca, Betfair
10th Jun 2013 10:48
Investec has retained its 'sell' rating and 50p target price for part-nationalised lender Lloyds as speculation continues to increase ahead of a potential reprivatisation. The broker said it sees "little justification for the share price to react favourably" under the proposal from the Policy Excha
Read moreBroker snap: Investec rates Lloyds as 'sell' as reprivatisation speculation ramps up
10th Jun 2013 10:21
Investec has retained its 'sell' rating and 50p target price for part-nationalised lender Lloyds as speculation continues to increase ahead of a potential reprivatisation. Media reports this weekend suggested that the Chancellor George Osborne is looking to take advantage of the recent strength in
Read moreMonday newspaper round-up: Severn Trent, Japanese growth, BAE...
10th Jun 2013 06:29
The international consortium bidding for Severn Trent could walk away from the deal following a number of rejections by the utility group over recent weeks, The Times says, citing sources close to the matter. "If the Severn Trent board does not engage, no further proposals will be made," sources tol
Read moreSunday newspaper round-up: ARM Holdings, Lloyds, Bonds
9th Jun 2013 19:00
The main threat to ARM Holdings may turn out to be 'home-grown.' Imagination Technologies, the British designer of graphics and video microchips for gadgets such as the iPhone is gearing up for a foray into ARM´s main market, making the processors that go into smartphones and other devices. Hence th
Read moreSector movers: Barclays leads banks lower as risk appetite sours
6th Jun 2013 15:01
Ongoing market volatility and policy decisions from central banks saw risk appetite diminish on Thursday, with the banking sector in London the worst affected. Policy announcements from the Bank of England and European Central Bank - as well as ongoing uncertainty regarding the Federal Reserve's po
Read moreUK jobs prospects jump in May, Lloyds data shows
6th Jun 2013 13:18
UK job prospects rose in May to their highest level in seven months, data from Lloyds revealed Thursday. The net balance for job prospects, the employment confidence indicator, increased by four points to -37% last month, reflecting a two-point climb in optimism to 16% and a two-point fall in pessi
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