Sunday newspaper round-up: RBS, Britain´s AAA, Centrica
6th Jan 2013 21:13
JC Flowers, headed by former Goldman Sachs banker Chris Flowers, is planning an ambitious move into the banking mainstream. It has teamed up with Apollo, one of the world´s largest buy-out houses, to bid for 316 Royal Bank of Scotland branches put back up for sale in October after a proposed deal wi
Read moreBroker tips: Fresnillo, RBS, M&S
4th Jan 2013 11:35
Shares in precious metals miner Fresnillo were hammered on Friday morning on the back of a downgrade by UBS from 'buy' to 'neutral' after the stock's recent strength. Since September 10th 2012, Fresnillo has gained 7% while silver prices have fallen 9%. This compares with the average fall for silve
Read moreBroker snap: Expect a 'sharp correction' at RBS after recent rise, says Investec
4th Jan 2013 10:03
While an upcoming LIBOR settlement at Royal Bank of Scotland (RBS) may just be a drop in the ocean compared with last year's PPI redress, Investec has retained its 'sell' recommendation on the stock. The broker reckons that regulatory fines for traders' attempted LIBOR manipulation will not be mate
Read moreLondon close: FTSE 100 cracks 6,000 after US budget deal
2nd Jan 2013 16:30
- Footsie surges 2.2 per cent - Global stock markets rally, helped by manufacturing figures - Miners benefit from increased risk appetite The FTSE 100 surged past the psychologically-important level of 6,000 on Wednesday as stock markets across the globe celebrated the last-minute deal by US politi
Read moreLondon midday: Markets welcome fiscal cliff deal with two per cent surge
2nd Jan 2013 11:40
- US leaders pass budget deal to avert fiscal cliff - Mining and banking stocks celebrate with decent performance - UK manufacturing ends 2012 on a high Mining stocks were registering impressive gains on Wednesday in the aftermath of the US fiscal cliff agreement, which could have plunged the world
Read moreBroker snap: Investec upbeat about Barclays but obstacles remain
2nd Jan 2013 10:41
Barclays was performing well on Wednesday morning after Investec hiked its target price from 260p to 285p and hailed the lender as its 'preferred UK domestic bank'. Despite an impressive 79% rally over the past five months, the broker said that the shares are still trading "only in line with loss-
Read moreLondon close: Gains pared after White House comments on 'fiscal cliff'
19th Dec 2012 16:57
The UK stock market staged a slight 'Santa rally' on Wednesday, with risk appetite increasing before Christmas on the back of a Greek ratings upgrade and a better-than-expected reading of German confidence. "Santa has returned to the markets, bringing some much needed cheer before the Christmas bre
Read moreFTSE 100 movers: Financials, IAG and CRH lead the risers
19th Dec 2012 15:31
Insurance and banking stocks were performing well on Wednesday afternoon after Credit Suisse upgraded its ratings on both sectors this morning. Lloyds was up 4% after the Swiss broker raised its view on European banks to 'benchmark' from 'small underweight', saying that the stock looks "abnormally
Read moreLondon midday: The 'Santa Rally' begins...
19th Dec 2012 11:35
An upgrade of Greece's credit rating and a better-than-expected reading of German sentiment saw European stock markets make impressive gains on Wednesday. Meanwhile, increasing optimism that US leaders can strike a deal to avert the 'fiscal cliff' was also continuing to bolster the bullish mood.
Read moreLondon open: Stocks rise on hopes over Greece
19th Dec 2012 08:16
UK stocks were making gains in early trading on Wednesday with sentiment being lifted by improving developments in Greece. Yesterday evening, S&P upgraded its rating for Greece from 'selective default' to 'B-minus'. The yield on a 10-year Greek bond was down 13 basis points at 12.7% this morning.
Read moreWednesday newspaper round-up: Nissan, UBS, Barclays...
19th Dec 2012 06:52
Britain's biggest carmaker has given the British automotive industry a big boost by announcing it is to start building premium-priced cars under its upmarket Infiniti brand in Sunderland. The move by Nissan, which is already bringing Britain its first mass-produced all-electric car, the Leaf, will c
Read moreTuesday newspaper round-up: Obama, RBS, UBS...
18th Dec 2012 06:54
US President Barack Obama offered to back away from his position that tax hikes should begin at 250,000 dollars in annual income, delivering a fresh concession to congressional Republicans as talks to avert the fiscal cliff intensified in Washington. The White House proposal would leave lower tax ra
Read moreMonday newspaper round-up: RBS, Thomas Cook, UK banks...
17th Dec 2012 06:49
Royal Bank of Scotland (RBS) remained tight-lipped last night amid speculation that it will take a hit of 350 million pounds from transatlantic regulators for its role in the Libor rate-rigging scandal. It was reported that RBS - 82 per cent owned by the British taxpayer after its 45 billion-pound s
Read moreSunday newspaper round-up: Rolls Royce, RBS, Public finances
16th Dec 2012 18:08
A former employee at the centre of the Rolls-Royce corruption case has claimed the company paid a second bribe of 25m dollars to an Indonesian businessman to help it to secure a 2010 jet engine contract. The British aero-engine maker won a 420m dollars (260m pounds) contract in July 2010 from Garuda
Read moreBroker tips: RBS, BP, ENRC
14th Dec 2012 11:19
Investec has reiterated its 'sell' rating and 265p target price for banking group RBS on the back of the company's exposure to a tough market in Ireland. Figures from the Central Bank of Ireland showed yesterday that "things are, as we feared, still getting worse", with the number of mortgages in o
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