Friday newspaper round-up: UKFI, Barclays, Bank of Japan...
26th Apr 2013 06:43
The Telegraph says Jim O'Neil, head of the UK Financial Investments (UKFI) which manages the government's investments in RBS and Lloyds, has resigned, "deal[ing] a blow to the government's hopes of selling the stakes in the near future". Barclays Chairman Sir David Walker promised investors that he
Read moreThursday newspaper round-up: Premier Foods, Lloyds, JPMorgan...
25th Apr 2013 06:40
The Guardian says: "Premier Foods, the firm behind Bisto, Hovis and Mr Kipling, is sitting on a pensions timebomb that risks wiping up to a quarter off the value of retirement savings of 60,000 past and present workers if the debt-laden food manufacturer were to slip into insolvency, according to a
Read moreLondon midday: Stocks flat as ECB rate cut speculation ramps up
24th Apr 2013 11:49
Stocks had trimmed gains and were trading broadly flat by Wednesday lunchtime as markets gave a mixed reaction to weak economic data from Germany with traders guessing at whether the figures will prompt the European Central Bank (ECB) to cut interest rates. However, the cautious mood on market this
Read moreLondon open: Markets extend gains as financial stocks rise
24th Apr 2013 08:20
Strong gains for financial stocks ensured that the FTSE 100 was firmly in positive territory on Wednesday morning, while growing speculation of a rate cut in Europe lifted sentiment. London's benchmark index surged by 2.0% on Tuesday as disappointing purchasing managers' indices from the Eurozone s
Read moreLloyds branch sale falls through as Co-op walks away
24th Apr 2013 07:04
Project Verde, the name given to the planned sale of 630 Lloyds branches to the Co-Operative, is to seek a stock market flotation after the latter walked away from the deal. Lloyds announced on Wednesday morning that despite the commitment of both parties to the transaction, the Co-op board has dec
Read moreWednesday newspaper round-up: Lloyds, ENRC, Apple...
24th Apr 2013 06:49
The proposed deal to sell more than 600 Lloyds branches to the Co-op have collapsed after the latter said it could not proceed with the transaction, according to the Financial Times. "The cancellation of the deal, originally worth up to £750m under terms struck last summer, is set to be announced
Read moreLondon close: Gains erased as US data disappoints
22nd Apr 2013 16:21
After a strong start, the FTSE 100 slumped into the red by the close on Monday afternoon as disappointing data and corporate earnings from the US dampened the positive mood. Nevertheless, markets on the whole gave a rather muted reaction to Friday's move by Fitch to strip the UK of it prized 'AAA'
Read moreFTSE 100 movers: Randgold Resources jumps higher
22nd Apr 2013 16:04
Randgold Resources was a strong riser - particularly compared to the rest of its sector - gaining after Blackrock upped its stake in the group to 14.1 per cent, marginally higher than the 14 per cent it previously owned. An increase in risk appetite was benefiting financial stocks today with banki
Read moreSector movers: Banks edge higher ahead of results season
22nd Apr 2013 15:21
Banking stocks were performing well on Monday, rebounding after bearing the brunt of falling risk appetite over the last week. Concerns about the global growth weighed on markets heavily last week after a slowdown in China and cuts to forecasts from the International Monetary Fund dampened the econ
Read moreLondon midday: Banks provide a lift as markets shrug off UK downgrade
22nd Apr 2013 11:20
Markets were making decent gains on Monday morning, shrugging off the news that Fitch had stripped the UK of it prized 'AAA' credit rating, as investors went bargain hunting following some heavy falls the week before. Despite trimming losses after a decent rebound on Friday, the FTSE 100 still fell
Read moreBroker tips: Lloyds, Standard Life, Reckitt
22nd Apr 2013 10:58
Investec has kept its 'hold' recommendation and 50p target price for UK banking group Lloyds, saying that it unwilling to turn positive on the stock ahead of its first-quarter trading update on April 30th. "Near-term, the dilutive trickle of new equity issuance continues, while the medium-term reve
Read moreBroker snap: Lloyds still a 'hold' ahead of Q1 results, says Investec
22nd Apr 2013 09:28
Investec has kept its 'hold' recommendation and 50p target price for UK banking group Lloyds, saying that it unwilling to turn positive on the stock ahead of its first-quarter trading update on April 30th. The broker forecasts Lloyds' tangible net asset value (tNAV) per share to fall from 55p at th
Read moreLondon open: Financials lead markets higher early on
22nd Apr 2013 08:16
Equities were making decent gains on Monday morning with financial stocks on the rise in London as markets attempted to claw their way back from heavy losses last week. The FTSE 100 fell a total of 97.8 points last week, losing 1.53% of its value, as concerns about global economic growth and a sell
Read moreMonday broker round-up UPDATE
22nd Apr 2013 07:20
Admiral Group: Deutsche Bank takes target price from 1140p to 1300p retaining a hold recommendation. African Barrick Gold: Deutsche Bank ups target price from 173p to 180p staying with its hold recommendation. Albemarle & Bond: Canaccord Genuity reduces target price from 280p to 146p and downgrade
Read moreMonday newspaper round-up: Glencore, ENRC, Lloyds...
22nd Apr 2013 06:44
Glencore has made millions of pounds by selling goods to Iran, including to a group that indirectly supplies the country's nuclear programme, reports The Guardian. However, the commodities trader has said that it ceased transactions prior to EU sanctions being put in place. The Financial Times says
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