Wednesday broker round-up - UPDATE
15th Feb 2012 09:25
Essar Energy: Morgan Stanley upgrades to neutral from underperform. Anglo American: Citi downgrades to neutral from buy. International Consolidated Airlines: Credit Suisse raises target from 152p to 189p, neutral rating kept. InterContinental Hotels: Credit Suisse raises target to 1,521p from 1,
Read moreLondon open: Stocks rise as China pledges to keep helping Eurozone
15th Feb 2012 08:19
- PBOC to keep buying Eurozone debt. - Eurogroup meeting cancelled. - Essar leads the risers early on. UK stocks rose in early trading on Wednesday, rebounding after yesterday's decline, with European indices following Asian markets higher after China pledged to continue buying Eurozone debt. Spea
Read moreLondon close: Stocks finish lower on macro concerns
14th Feb 2012 16:24
-Banks, miners weigh on Footsie. -Markets digest sovereign downgrades from Moody's. -Investors await Eurogroup meeting tomorrow. UK stocks finished in the red on Tuesday as concerns over the state of the Eurozone continued to weigh on sentiment. Trade was volatile as mid-morning gains on the back o
Read moreFTSE 100 movers: Bunzl in top spot after rating upgrade
14th Feb 2012 13:47
Distribution and outsourcing firm Bunzl was the top of the risers list after JP Morgan upped its recommendation from neutral to overweight on valuation grounds. "We believe that the recent relative underperformance could be a good entry point ahead of FY results on 27 February," the US broker said.
Read moreLondon midday: German ZEW survey provides a boost to UK stocks
14th Feb 2012 11:48
- German ZEW expectations index swings into positive territory. - Moody's downgrades six nations, cuts outlook for three others to negative. - Bunzl, Barclays higher after broker upgrades. After an initial slump on the back of a mass downgrade of European sovereigns by Moody's, a sharp rise was rec
Read moreLondon close: Greek optimism buoys Footsie
13th Feb 2012 16:39
- Stocks rise as Greece approves austerity package. - CBI cuts UK GDP forecasts. - Vodafone confirms potential takeover of C&W Worldwide. Stocks managed to hold on to gains on Monday as Greece moves one step closer to securing the next crucial tranche of aid. Mining and financial stocks led the ri
Read moreBank lending to SMEs falls short of targets in 2011
13th Feb 2012 15:17
Lending to businesses by the five major UK banks exceeded targets in 2011, but loans to small- and medium-sized businesses (SMEs) came up short, according to the latest data from the Bank of England (BoE). Gross lending from Barclays, HSBC, Lloyds, Royal Bank of Scotland and Santander totalled £214
Read moreFTSE 100 movers: Miners buoyed by Greek deal
13th Feb 2012 13:07
Antofagasta lead the risers, closely followed by its fellow miners, after the Greek deal sparked a rise in the euro against the dollar, sending greenback-denominated metals´ prices higher. Anglo American, Kazakhmys, Rio Tinto and Xstrata were all making gains of at least 2%, with Anglo American pe
Read moreLondon midday: Stocks extend gains and banks, miners advance
13th Feb 2012 11:40
- Stocks rise as Greece approves austerity package. - Banks miss 'Project Merlin' lending targets. - Vodafone confirms potential takeover of C&W Worldwide. The Footsie was trading a whole percentage point higher by midday, with banks and miners extending gains from the morning session, following
Read moreBroker tips: UK banks, Old Mutual, Entertainment One
13th Feb 2012 10:35
Nomura has today cut its ratings on UK banking peers Lloyds and Royal Bank of Scotland (RBS) from neutral to reduce, saying that the recent strong recovery in the sector should be seen as a selling opportunity. "Both groups are banking sector restructuring stories and therefore geared to market ris
Read moreBroker snap: Nomura downgrades UK banks on weak outlook
13th Feb 2012 09:40
Nomura has today cut its ratings on UK banking peers Lloyds and Royal Bank of Scotland (RBS) from neutral to reduce, saying that the recent strong recovery in the sector should be seen as a selling opportunity. "Both groups are banking sector restructuring stories and therefore geared to market ris
Read moreMonday broker round-up - UPDATE
13th Feb 2012 09:08
SAB Miller: Credit Suisse initiates at outperform and with a price target of 2,900p. Lloyds: Nomura downgrades from neutral to reduce, cuts target from 40p to 35p. Royal Bank of Scotland: Nomura downgrades from neutral to reduce, cuts target from 34p to 26p. Barclays: Nomura downgrades from buy
Read moreSale fail: RBS slashes 300 jobs
10th Feb 2012 14:38
Royal Bank of Scotland (RBS) has slashed 300 hundred jobs after the part-nationalised lender failed to secure a buyer for its capital markets and cash equities businesses. The group, which is 84% owned by taxpayers, has made the majority of the cuts at its London-based operations, according to a s
Read moreFTSE 100 movers: Barclays rises despite falling profits
10th Feb 2012 13:32
Barclays was topping the risers despite reporting falling profits and revenues in 2011. Of note, the bonus pool at Barclays Capital, its underperforming investment banking arm, was cut by 32%. Critically, however, the lender raised its dividend. That may have raised confidence in the lender´s abilit
Read moreRBS employees dismissed as part of FSA probe
10th Feb 2012 07:52
Typhon is the name given to the storm-demon which, in one version of Greek mythology, stole Zeus's thunderbolts and wrecked the earth with storms. The traders which have been dismissed at RBS might be cast as modern day Typhons, for they are amongst those who, every day before noon, set the London
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