Broker snap: UBS upgrades banks to 'overweight' as conditions improve
17th May 2013 10:59
UBS has lifted its rating for the global banking sector from 'underweight' to 'overweight', saying that the operating environment is beginning to improve. In a research report titled 'Post-crisis banking', UBS said that the tone of its Global FID conference earlier this week was "neutral to slightl
Read moreLondon close: FTSE 100 snaps winning streak after poor US data
16th May 2013 16:41
The FTSE 100 has finally ended its long-running winning streak after poor economic data from the States dampened stocks by the close of trade on Thursday. Markets were relatively rangebound for most of the session today, teetering around a five-and-a-half-year high of 6,700 following 10 consecutive
Read moreLloyds Banking Group to restart dividend payments
16th May 2013 12:13
The Chairman of Lloyds Banking Group, Win Bischoff, said the company hopes to restart dividend payments as soon as possible. Bishoff, who this week revealed he would retire in a year's time, also said the government will be able to sell its shares in the part-nationalised bank "over time". "Once r
Read moreLondon midday: Markets rangebound but winning streak continues
16th May 2013 11:34
The FTSE 100 was continuing to trade within an extremely tight range on Thursday morning as investors consider how much further the rally will go given that the index is already trading at levels not seen in five and a half years. Just 15 points separated the Footsie's intraday low (6,693) and hig
Read moreBroker tips: Aviva, RBS, Lloyds...
16th May 2013 11:31
Investec has kept its 'reduce' rating and 316p target price for insurance giant Aviva despite a well-taken first-quarter trading update from the firm on Thursday. "There are signs of improvement in the 1Q numbers, but progress in one area is matched by difficulties in another. Fixing Aviva is likel
Read moreBroker snap: Daniel Stewart upgrades RBS and Lloyds on reprivatisation hopes
16th May 2013 10:23
Daniel Stewart & Company has raised its ratings for part-nationalised lenders RBS and Lloyds to 'buy', saying that placings of the government stakes in 2014 now look like a 'strong probability'. An article in the Financial Times on Wednesday evening said that David Cameron has dropped his strongest
Read moreTuesday tips round-up: Banks, Petropavlovsk, Glencore Xstrata
14th May 2013 07:10
Authorities attempts to create a challenger to the main established lending groups - RBS, Lloyds, Barclays, HSBC - are in a state of disarrray after Moody´s six notch downgrade of Co-op last week. Simply put, creating a large new lender is far more difficult and risky than many appreciate. In any ca
Read moreTuesday newspaper round-up: Severn Trent, Lloyds, Vodafone...
14th May 2013 06:52
According to The Times, Severn Trent could be the target of a bid worth up to 5.3bn pounds. The utility company is said to be in talks with Canadian infrastructure investors Borealis and the Kuwait Investment Authoirty The Independent says that the new Chairman to replace Sir Win BIschoff at Lloyds
Read moreLondon close: Markets extend winning streak despite Fed concerns
13th May 2013 17:04
The FTSE 100 finished with slight gains on Monday, extending the recent winning streak into its eighth day, as markets shrugged off concerns over stimulus measures in the US and disappointing economic data in China. Following a strong rise last week, London's benchmark index reached a closing price
Read moreFTSE 100 movers: G4S in top spot after G8 contract win
13th May 2013 15:23
G4S leapt into the top spot after winning a deal to provide security at the two day Northern Ireland G8 Summit in June. It will provide 450 staff members to give support to the police. Antofagasta was another strong riser, erasing some of last week's losses after Nomura said it was one of several m
Read moreLondon midday: Stocks snap winning streak as Chinese data disappoints
13th May 2013 11:51
Disappointing economic data from China on Monday put an end to a seven-day winning streak in London which lifted the FTSE 100 to a five-and-a-half-year high last week. London's benchmark index reached a closing price of 6,625 on Friday afternoon, a level not seen since late 2007, meaning that it ha
Read moreLondon open: Markets pause after strong run last week
13th May 2013 08:48
Weakness in the financial sector meant that the FTSE 100 was in the red on Monday morning, with investors pausing for breath after the index reached fresh multi-year highs last week. London's benchmark index reached a closing price of 6,625 on Friday afternoon, a level not seen since late 2007, mea
Read moreLondon pre-open: Stocks to edge lower in early trade
13th May 2013 07:32
City sources predict the FTSE 100 will open down four points from Friday's close of 6,625, following the weekend's meeting of the G7 in the UK. In all it appears the leaders from the seven countries agreed it was wise to allow the Japanese yen continue on its path lower. On today's agenda, econo
Read moreLloyds Chairman to step down
13th May 2013 07:05
Part-nationalised lender Lloyds has revealed that Chairman Sir Winfried Bischoff will retire within a year's time, a move thought to be in anticipation of the bank's potential privatisation. Bischoff, who has been Chairman since September 2009 and instrumental in the company's radical restructuring
Read moreMonday newspaper round-up: Lloyds, ENRC, Ocado...
13th May 2013 06:44
Sir Win Bischoff, the Chairman of Lloyds since September 2009, is expected to announce his resignation ahead of Thursday's shareholder meeting as the bank readies for privatisation, reports The Guardian. The Financial Times says that May 17th is the deadline for a bidding consortium - made of a "tr
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