Broker snap: Investec upgrades HSBC to 'buy', but prefers StanChart
5th Apr 2013 10:28
Investec has turned more bullish on global banking giant HSBC, upgrading the stock from 'add' to 'buy', but has retained a clear preference for sector peer Standard Chartered (also rated 'buy'). Analyst Ian Gordon said in a research note on Friday that both HSBC and StanChart are expected to delive
Read moreSunday newspaper round-up: RBS, Cyprus, Bedroom-tax
31st Mar 2013 16:26
It is understood that Royal bank of Scotland (RBS) will make even deeper cuts to its investment banking wing in an effort to meet the Bank of England's (BoE's) new financial policy committee's (FPC) target. The FPC last week called on lenders to raise 25bn pounds in new capital to offset any potenti
Read moreThursday newspaper round-up: Great Western, BP, Centrica...
28th Mar 2013 06:52
The Telegraph says that four of the UK's largest train operators - Arriva, FirstGroup, National Express and Stagecoach - have dropped lawsuit worth 40m pounds against the government to recover costs during the franchises process for Great Western that was scrapped earlier this year. The Clair proje
Read moreLondon close: Stocks weighed down by Eurozone concerns
27th Mar 2013 17:31
Political wrangling in Italy and uncertainty in Cyprus resulted in a volatile day for London's FTSE 100 index on Wednesday, though stocks bounced well off their lows in afternoon trade. The Footsie dropped to an intraday low of 6,344 at midday, but had recovered to 6,388 by the close, tracking a sl
Read moreBroker snap: Citi reiterates buy on Lloyds Banking Group
27th Mar 2013 14:17
Lloyds Banking Group's shares rose Wednesday as Citigroup said the company's capital position was strong and reiterated its 'buy' rating on the stocks. "We believe the capital position is robust and that underlying earnings risks are more towards the upside, rather than downside," the analyst said
Read moreLondon midday: Financials provide a boost after 11th-hour deal in Cyprus
25th Mar 2013 11:35
Financial stocks were performing well on Monday morning, pushing the FTSE 100 one per cent higher, following Cyprus' 11th-hour deal with the Troika to save itself from financial collapse. "Cyprus has avoided becoming the first country to default on its debt and exit the Eurozone, after agreeing on
Read moreBroker snap: Goldman upgrades RBS on potential upside
25th Mar 2013 09:11
Goldman Sachs has taken Royal Bank of Scotland off its 'sell' list, saying that the expected earnings dilution from potentially higher capital regulations is already priced in to the stock. The broker explained that earnings dilution risk at both RBS and Lloyds has risen over the past few months, w
Read moreLondon open: Markets rise on last-minute deal to save Cyprus
25th Mar 2013 08:20
Stocks advanced strongly on Monday morning after 11th-hour talks to save Cyprus from default resulted in a last-minute bailout deal with the Troika. "Markets clearly appear to be more hopeful than they ought to be on the Eurozone muddling through this crisis - this would suggest that any potential
Read moreMonday broker round-up UPDATE
25th Mar 2013 07:12
Amur Minerals Corporation: HB Markets initiates with a speculative buy. ARM Holdings: Bank of America Merrill Lynch reiterates buy and 1,145p price target. AstraZeneca: Deutsche Bank raises target price from 2800p to 3100p and keeps a hold recommendation. Exane BNP ups target price from 3100p to 3
Read moreLondon midday: Markets cautious on critical day for Cyprus
22nd Mar 2013 11:47
European stocks were making moderate gains on Friday morning but the mood on financial markets was cautious with the focus firmly on Cyprus ahead of pivotal day for the country's future in the Eurozone. According to government spokesman Christos Sylianides this morning, the "next few hours" are key
Read moreFriday newspaper round-up: Cyprus, UK gas reserves, Co-Op...
22nd Mar 2013 06:57
The Telegraph reports that Cyprus is looking to inflict losses of up to 40 per cent on large depositors only, saving all smaller deposits of up to 100,000 euros, in an effect to prevent an economic collapse next week. The move includes the restructuring or freezing of all assets held in two of its b
Read moreLondon close: Cypriot vote on deposit tax sinks stocks late on
19th Mar 2013 17:06
After a brief spell in positive territory at lunchtime, UK stocks sunk back into the red by the close of trade on Tuesday as leaders in Cyprus gathered to vote on the deposit tax, a controversial measure deemed necessary to save the country from default. Traders were also nervous ahead of tomorrow'
Read moreLondon midday: Miners fall as fears over Cyprus dent markets
19th Mar 2013 11:31
Heavy falls in the mining sector ensured that the resource-heavy FTSE 100 index was trading firmly in the red on Tuesday morning with sentiment still fragile in the aftermath of the bailout deal for Cyprus and the controversial idea to tax customer accounts. Market Analyst Craig Erlam from Alpari s
Read moreLloyds considers sale of Irish real estate loans
19th Mar 2013 11:04
Lloyds Banking Group is reportedly mulling over of the sale of Irish real estate loans in an effort to pull itself out of Europe's property slump. The London-based lender, which is 39% owned by the taxpayer, is considering the sale of about €650m of loans but will have to sell at a discount, a sour
Read moreLondon midday: Banks, miners drop after controversial bailout deal in Cyprus
18th Mar 2013 11:44
Markets were in risk-off mode on Monday morning as fears over the Eurozone debt crisis resurfaced after a deal to bail out Cyprus sparked a run on banks across the country. Banks and miners were bearing the brunt of the sell-off in London after Cyprus' €10bn bailout deal with the Troika - a move in
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