London close: Stocks surge after US data, Spanish stress tests
1st Oct 2012 16:45
- US data beats forecasts in September - Reports imply Germany may soften stance on Greece - Banks and miners rise strongly in London - Credit Suisse says Spanish stress test a "generally credible exercise" - Credit Suisse says larger top-down questions remain in stress tests Better-than-forecast m
Read moreSector movers: Banks, miners lead markets higher
1st Oct 2012 16:30
Increased risk appetite was benefitting the banking and mining sectors on Monday afternoon as benchmarks across Europe surged higher. Friday's release by Oliver Wyman on the Spanish financial sector was lifting sentiment on markets today. The independent auditor estimated that banks would need €59.
Read moreDirect Line: to buy or not to buy?
1st Oct 2012 15:27
State-owned lender Royal Bank of Scotland is floating its insurance arm Direct Line to comply with rules on state aid but should private investors buy the shares? The flotation will represent at least 25% of Direct Line's share capital with shares offered at between 160 and 195 pence per share, giv
Read moreFTSE 100 movers: Xstrata rises after agreeing to merger with Glencore
1st Oct 2012 14:46
The big news of the day was that the so-called merger of equals between commodities trader Glencore and mining titan Xstrata is back on after the independent directors of the latter agreed to Glencore's terms. Jefferies reiterated its positive stance on both stocks this morning, saying that while th
Read moreLondon midday: Strong start to Q4; Footsie up one per cent
1st Oct 2012 11:24
- Investors taking advantage of underpriced stocks, says analyst - Asian and UK data disappoints - Xstrata rises after agreeing terms with Glencore London's blue-chip index gained strongly in morning trading on Monday with increased risk appetite benefitting the banking and mining sectors as stocks
Read moreMonday broker round-up
1st Oct 2012 08:58
Barclays: Liberum Capital upgrades to buy, target lifted from 210p to 245p. British American Tobacco: Investec upgrades to buy. Capital & Counties: Seymour Pierce downgrades from buy to add, 233p target kept. Charles Stanley: Peel Hunt downgrades to hold. Electrocomponents: Panmure Gordon downgr
Read moreLondon open: Stocks shrug off disappointing Asian data
1st Oct 2012 08:34
- UK stocks make strong gains early on - Japanese, Chinese figures disappoint - Xstrata rises after agreeing terms with Glencore UK equities advanced on Monday morning in spite of some disappointing economic data from Asia as stock markets kicked off the fourth quarter on a positive note. The Bank
Read moreSunday share tips: Direct Line, Paragon, Hornby
30th Sep 2012 18:38
RBS is floating Direct Line to comply with rules on state aid - and private investors can buy the shares. But should you? The disposal by RBS has to start this year, with the majority of Direct Line sold by 2013 and the entire business by 2014. The initial plan is to sell 25 per cent, with a further
Read moreLondon close: Dull end to sparkling quarter
28th Sep 2012 16:50
Early gains dissipated in London and by the time Wall Street opened lower investors were in the mood to bank some of this quarter's handsome gains; despite today's fall, the top share index still put on close to 250 points in the third quarter. Sentiment was boosted early on by consumer confidence
Read moreDirect Line flotation price range: 160p - 195p
28th Sep 2012 14:29
State-owned lender Royal Bank of Scotland (RBS) revealed that the flotation of its insurance arm, Direct Line Group, will be priced somewhere between 160p and 195p per share. The announcement came on the day the Office of Fair Trading called on the Competition Commission to look into the UK car ins
Read moreSeveral years hard LIBOR
28th Sep 2012 12:03
The Financial Services Authority's report into the London Interbank Offered Rate (LIBOR) scandal recommends that the British Bankers' Association (BBA) should have no further role in the setting of the key interest rate. FSA Managing Director Martin Wheatley, also told the BBC that, in future, bank
Read moreLondon close: Pain in Spain again
26th Sep 2012 16:57
Stock markets all over the world were in retreat on Wednesday, and London was no exception, as investors fretted about Spain's negotiations over bailout terms. Spain will restrict early retirement programmes as one of the new measures that President Rajoy will announce during the 2013 budget presen
Read moreLondon midday: End to restructuring in sight at RBS
25th Sep 2012 11:59
The Footsie moved within a narrow band throughout the morning session, in the absence of any market-moving economic data. There is not a lot of macro data in prospect in the afternoon session, either, with only second-tier economic indicators due out this afternoon Stateside. "US consumer confide
Read moreBroker snap: Credit Suisse reiterates underperform on RBS
25th Sep 2012 11:05
Commenting on Royal Bank of Scotland´s presentation at the Bank of England Merrill Lynch annual banking conference in London this morning analysts at Credit Suisse had this to say: "Overall the update was broadly in line with previous guidance, although management highlighted a strong Q3 performance
Read moreLondon mid-morning: Seeking direction
25th Sep 2012 09:51
London opened little changed, with pundits citing an absence of big economic data to set the tone. RBS aiming to restart divis ... eventually Royal Bank of Scotland (RBS), the publically owned bank, says it is targeting the resumption of dividend payments after 2013. The announcement came in a
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