London 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
Read moreBroker snap: Nomura prefers HSBC and StanChart among UK banks
18th Mar 2013 11:03
Nomura has reviewed its ratings in the UK banking sector, reiterating its preference for emerging markets-focused lenders HSBC and Standard Chartered, both rated 'buy'. The broker said it continues to have a "defensive/growth bias" within the sector and believes that both HSBC and StanChart are "we
Read moreLondon open: Fears of Cypriot bank run sink stocks after bailout deal
18th Mar 2013 08:27
Fears of a bank run in Cyprus and contagion across the wider Eurozone sparked a mass sell-off on European stock markets on Monday, as the Eurozone debt crisis rears its ugly head once again. Analysts at UniCredit said in their morning note to clients that markets would be in a "risk-off mood" today
Read moreLegal & General buys CALA stake from Lloyds
18th Mar 2013 07:10
Financial services giant Legal & General (L&G) has bought a large interest in a major British home builder from Lloyds Banking Group, marking the group's first direct investment of this kind. L&G, which provides protection, annuities, savings and investment management products in the UK, said in a
Read moreThursday broker round-up UPDATE
14th Mar 2013 07:11
Amara Mining: After having been under review, Cantor Fitzgerald reinitiates coverage with a price target of 81p and a buy recommendation. Antofagasta: Citigroup shifts target price from 990p to 1000p, but retains its sell recommendation. Ashtead Group: Investec raises target price from 475p to 700
Read moreUnion up in arms over further job cuts at Lloyds Banking Group
13th Mar 2013 13:48
Lloyds Banking Group came under attack by union Unite after announcing it would cut a further 550 jobs. The axe will affect departments including risk, retail, insurance and commercial banking. It follows a 940 cull in January, and brings the total number of redundancies to 8,550. The move is par
Read moreLondon close: Stocks gain as markets shrug off gloomy production data
12th Mar 2013 16:52
In spite of some dismal production data from the UK, the FTSE 100 finished Tuesday's session slightly higher as the benchmark index continues to set fresh five-year highs. Copper producer Antofagasta was providing a lift in London, rising on the back of its strong 2012 results, while IAG gained on
Read moreLondon midday: Markets flat despite dismal UK production figures
12th Mar 2013 11:28
The FTSE 100 managed to hold on to recent gains on Tuesday morning as traders shrugged off some disappointing domestic economic figures. London's benchmark is continuing to hover around the 6,500 mark, a level not seen since late 2007 before the financial crisis sparked a sell-off in financial mark
Read moreBroker tips: Lloyds, Antofagasta, IHG
12th Mar 2013 11:08
Investec has upgraded its recommendation for UK banking group Lloyds from 'sell' to 'hold' and lifted its target price for the shares from 46p to 50p. The broker said that Lloyds' share price has delivered a "useful" 10% correction over the past two weeks after the company's full-year results. "Alo
Read moreLondon open: Footsie holding on to five-year highs
12th Mar 2013 09:05
The FTSE 100 opened in cautious manner on Tuesday morning as investors paused for breath after the index hit fresh five-year highs the day before. London's benchmark is now hovering around the 6,500 mark, a level not seen since late 2007 before the financial crisis sparked a sell-off in financial m
Read moreLondon pre-open: Stocks to dip on UK house price index decline
12th Mar 2013 07:29
City sources predict the FTSE 100 will open down seven points from yesterday's close of 6,504, knocked by news that the UK house price balance dropped to a seasonally adjusted -6 per cent in February, compared to expectations of a rise to -2 per cent (from -4 per cent in January). In the US stocks
Read moreTuesday broker round-up UPDATE
12th Mar 2013 07:19
Abcam:Investec shifts target price from 484p to 487p and keeps a buy recommendation. Admiral Group: UBS ups target price from 1200p to 1275p and reiterates a neutral rating. Amlin: Westhouse Securities raises target price from 440p to 455p, but downgrades from add to neutral. Anite: Numis reduce
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