RBS protects itself against collapse of sterling after Brexit
6th Jul 2016 12:09
(ShareCast News) - The Royal Bank of Scotland (RBS) has hedged itself against a plunge in sterling after Brexit. RBS' chairman Sir Howard Davies told BBC Radio 4's Today programme the bank sought to protect itself to prevent a forthcoming fine from America being more costly if the US dollar stren
Read moreTravel&leisure stocks and financials lead gains
1st Jul 2016 14:43
(ShareCast News) - Travel stocks led the way higher at the end of the week as the Footsie advanced towards its largest weekly gain since December 2011, with stock in TUI at the top of the leaderboard but with shares in InterContinental Hotels Group and Carnival close behind as they recovered from fa
Read moreRBS and Lloyds sale on hold while £8bn falls of share price
28th Jun 2016 11:10
(ShareCast News) - The government has scrapped plans to sell its shares in the Royal Bank of Scotland (RBS) and Lloyds Banking Group on Tuesday due to Brexit, while the result wiped out almost £8bn on the banks' share price on Monday. Shares in RBS and Lloyds have plummeted since the European Refere
Read moreBroker tips: ITV, Randgold Resources, Fresnillo, UK banks
27th Jun 2016 17:00
(ShareCast News) - Nothing had changed with respect to ITV's fundamentals following Brexit despite the approximately 20% share price drop on 24 July, analysts at Liberum said, as they stood by their 'buy' recommendation and 375p target on the stock and singled it out as a 'top-pick'. That was true e
Read moreLondon close: Stocks still trying to find their footing
27th Jun 2016 16:41
(ShareCast News) - London stocks took another hit, with traders for now largely ignoring attempts by George Osborne to reassure global investors, as financial markets continued to look for answers to the current uncertainty, both economic and political. The FTSE 100 closed down by 158.40 points or 2
Read moreMortgage lending resilient in May but likely to fall post referendum - CML
27th Jun 2016 10:37
(ShareCast News) - Mortgage lending remained resilient in May as banks and building societies lent more than in April and than in May last year. Gross mortgage lending swelled to £18.2bn in May, the Council of Mortgage Lenders estimated, up 3.6% from the preceding month and 13.6% higher than this ti
Read moreSocGen downgrades European banks, reviews ratings on UK banks after Brexit
27th Jun 2016 09:56
(ShareCast News) - Banks in London took another beating on Monday as investors mulled over the implications of the UK's decision to leave the European Union, with ratings downgrades across the board. Societe Generale was among those issuing downgrades. It cut its stance on Royal Bank of Scotland to
Read moreRBS and Barclays share trading halts after falls on Monday
27th Jun 2016 09:36
(ShareCast News) - Trading in Royal Bank of Scotland and Barclays shares was automatically halted in London on Monday morning on volatility after their share prices continued to crater. RBS was temporarily halted after falling 14.2%, while Barclays was down 11.5%. On Friday, Barclays shares were sus
Read moreSunday newspaper round-up: Rate cut, City exodus, pensions, LSE, RBS and Lloyds
26th Jun 2016 15:03
(ShareCast News) - The Bank of England is set to slash interest rates and even restart its money-printing programme to stimulate a slowing economy after the vote for Brexit, the Sunday Times reported. A cut in Bank rate is now viewed as a near-certainty by investors, having been considered an even-m
Read moreRBS puts Williams & Glyn sale process on pause
23rd Jun 2016 16:17
(ShareCast News) - Royal Bank of Scotland has shelved negotiations to sell its Williams & Glyn subsidiary, according to reports, which will make it difficult to complete the sale by the end of 2017 as required by the European Commission. Earlier this week, RBS was said to have put its marketing effo
Read moreSocGen outlines post-referendum trade ideas
22nd Jun 2016 09:57
(ShareCast News) - Remain is the central scenario in Societe Generale's equity allocation model and the FTSE 100 is one of its preferred indices, the bank said as it outlined its equity trade ideas for both outcomes. In the event of a Brexit, SocGen expects that on 24 June and the following days, th
Read moreRBS said to cut at least 900 jobs
21st Jun 2016 11:33
(ShareCast News) - Royal Bank of Scotland is reportedly set to cut its workforce by 900 jobs in its latest round of restructuring and cost-cutting measures. Reuters cited sources as saying that RBS, which is 73% owned by the government and employs over 90,000 people, will cut jobs in the technology
Read moreFinancials, Fixed-line telecoms pace gains
20th Jun 2016 15:48
(ShareCast News) - Life insurers, Fixed line telecommunications, Banks and financial services paced jumped after a flurry of polls over the weekend pointed to renewed momentum for the 'Remain' camp. The news sent the Footsie to its largest one-day advance since February, with just three of the bench
Read moreLondon midday: Financials pace gains as Footsie keeps climbing
20th Jun 2016 12:29
(ShareCast News) - Stocks in London were continuing to move higher come midday on Monday, alongside the largest gain the pound in three months, with investors taking their cue from strong gains in Asia as Brexit polls showed the Remain campaign was in the lead. As of 12:03 BST, the FTSE 100 was 183.
Read moreMonday newspaper round-up: Sterling, City jobs, Williams & Glyn, CMA
20th Jun 2016 07:06
(ShareCast News) - The British pound was powering ahead in Asian morning trading on Monday as the latest opinion polls on Britain's EU referendum showed the two camps running neck and neck. In previous weeks, the campaign for the UK to vote in favour of leaving the EU at its June 23 referendum had s
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