Broker snap: Nomura stays cautious on RBS
4th Nov 2011 10:26
With "no negative surprises" in Royal Bank of Scotland's (RBS) third quarter results, Nomura highlights that figures were in line with expectations, but says that "longer-term challenges remain". Group income of £6.36bn was slightly ahead of the broker's £6.25bn forecast, while operating expenses o
Read moreUPDATE: Digital Look broker talk
4th Nov 2011 09:23
Royal Bank of Scotland: "The Q3 figures are very similar to expectations, with no negative surprises. The strengthening of the balance sheet has continued...However, the longer-term challenges remain" [Nomura]. Royal Bank of Scotland: "Despite the endless additional political and regulatory roadblo
Read moreUPDATE: Friday broker round-up
4th Nov 2011 08:58
Royal Bank of Scotland: Nomura keep neutral rating and target of 34p. Royal Bank of Scotland: Evolution Securities keeps buy recommendation and 40p target. Man Group: UBS reduces target from 250p to 210p, buy rating maintained. RSA: Nomura reiterates buy rating and 148p target. Smith & Nephew:
Read moreLondon pre-open: Operating profits disappoint at RBS
4th Nov 2011 07:40
Yesterday's advance looks set to continue today, albeit at a more sedate pace, as investors await October's US jobs data and further developments in Greece, where the government faces a vote-of-confidence motion in parliament today. City sources predict the FTSE 100 will open up 25 points from yes
Read moreRBS jumps despite weak profits -UPDATE
4th Nov 2011 07:19
Broker comment added Perhaps the most closely watched stock on the FTSE 100, Royal Bank of Scotland (RBS), has made a profit before tax of £2,004m in the third quarter of 2011. This compares to a £1,560m loss at the same point in 2010. Nomura said that there were "no negative surprises" and the fi
Read moreLondon midday: Mass sell-off on Greek default risks
1st Nov 2011 12:02
News that Greece is to hold a referendum on its latest bailout package and some worrying economic data at home and away rattled the markets on Tuesday, with the Footsie dropping close to 3%, while other European benchmarks fell by between 4% and 5%. GREEK REFERENDUM SCARES MARKETS The decision by
Read moreLondon open: Greek referendum rattles Footsie
1st Nov 2011 09:12
The Footsie lost a further 2% on Tuesday morning on the news that Greece is to hold a referendum on the latest bailout announced last week. The decision by George Papandreou, the Greek Prime Minister, to hold a referendum on the details of the Greek bailout tortuously negotiated by Eurozone leaders
Read moreLondon close: Miners plummet, Footsie drops 2.8%
31st Oct 2011 16:33
London's blue chips registered an average fall of 2.77% on Monday as a steep sell-off in the heavyweight mining sector dragged the Footsie down to 5,544, 158 points off Friday's close of 5,702. Just three stocks finished the day with gains. The steady decline continued following a dreary start on W
Read moreLondon midday: Miners tumble as Japan intervenes
31st Oct 2011 12:15
The miners dragged the Footsie over 1% lower by midday after Japan's intervention into the currency markets and Chinese demand worries spurred a fall in commodity prices. London's blue chip index remains firmly in the red at the 5,641 mark, down from Friday's close of 5,702. In economic news, the g
Read moreSunday newspaper round-up: Barclays, Italy, ECB, funds, G4S
30th Oct 2011 15:46
"Investment banking revenues at Royal Bank of Scotland and Barclays have taken a significant dive during the third quarter, results this week are expected to show. Keith Bowman, banking specialist at broker Hargreaves Lansdown, believes figures from the two banks' investment banking divisions could
Read moreLondon close: Choppy FTSE 100 closes lower
28th Oct 2011 17:08
Shares finished slightly lower after a quiet day on the company news front, giving traders a chance to sit back and appraise the latest developments in the Eurozone saga. Stock markets across the globe surged higher yesterday, with the three US benchmarks rising by an average 3% last night after le
Read moreFTSE 100 Movers: Bank investors loose enthusiasm
28th Oct 2011 13:17
ITV was on the up after RBS reiterated its "buy" hold on the stock. Meanwhile, International Consolidated Airlines dipped following a target price cut from UBS from 260p to 240p. Barclays was also falling despite an upgrade from J.P.Morgan from neutral to overweight and a "buy" reiteration from
Read moreLondon midday: Pause for breath after euro boost
28th Oct 2011 12:01
Shares are still flat amid a quiet day on the company news front, giving traders a chance to sit back and appraise the latest developments in the Eurozone saga. SUBDUED START AFTER YESTERDAY'S SURGE Stock markets across the globe surged higher yesterday, with the three US benchmarks rising by an a
Read moreUPDATE: Friday broker round-up
28th Oct 2011 09:13
HSBC/Standard Chartered: Citi chief economist William Buiter argues today that: "World trade is set for a prolonged boom and a marked transformation. Transaction banking and trade finance should track the direction of trade and economic growth in the long term. (...) Standard Chartered and HSBC shou
Read moreLondon open: Flat start for the Footsie
28th Oct 2011 08:40
The FTSE 100 opened flat on Friday morning following yesterday's massive 2.9% gain on the back of strong US economic data and the pivotal Eurozone agreements announced yesterday. SUBDUED START AFTER STRONG DAY ON THURSDAY Stock markets across the globe surged higher yesterday, with the three US b
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