FTSE 100 movers: RBS up on job cuts, miners suffer
15th Mar 2016 14:23
(ShareCast News) - The FTSE 100 was in the red in afternoon trading on Tuesday, off the back of lower oil prices and predictions from OPEC that global demand for the cartel's crude would be less than previously expected in 2016. Leading the risers was Royal Bank of Scotland, which had revealed furth
Read moreRBS boosted by Goldman Sachs upgrade to 'buy'
15th Mar 2016 09:10
(ShareCast News) - Royal Bank of Scotland got a boost as Goldman Sachs upped the stock to 'buy' from 'neutral' and added it to its Conviction List. The upgrade was premised on three key points. Goldman said RBS's valuation now screens as attractive. The shares have de-rated and are trading at a 50%
Read more'Robots' to replace 550 advisers at RBS
14th Mar 2016 08:39
(ShareCast News) - The rise of automation led to the axing of 550 jobs at the Royal Bank of Scotland, with the bank replacing them with so-called robo-advisers. RBS blamed falling demand for face-to-face services for the cuts, which were set to occur in its investment advice and protection advice di
Read moreBernstein slashes target on RBS, says Brexit risks have killed risk appetite
10th Mar 2016 15:21
(ShareCast News) - The fact that the short-term rates are not going to rise anytime soon - indeed they might yet fall - faltering demand for credit in the UK, expectations that unemployment in Britain would rise by the end of 2016 and the now "extremely unlikely" resumption of dividend payments this
Read moreWednesday broker round-up
9th Mar 2016 16:26
(ShareCast News) - Worldpay: Jefferies reiterates buy with a target price of 340p and Goldman Sachs keeps at buy with a target price of 400p. Burberry: HSBC downgrades to hold, 1500p target. Croda International: Goldman Sachs downgrades to neutral with a target price of 3300p. Ashtead: Credit Suis
Read moreBroker tips: Burberry, Centrica, SSE, RBS
9th Mar 2016 14:38
(ShareCast News) - A weaker sterling will add to ,'s growth on both the top-line and bottom-line, but the recent rebound in the share price was "unwarranted", HSBC said. Neither should investors expect anything more than excess cash to be returned and room to cut costs further was limited, analysts
Read moreBerenberg upgrades RBS to 'hold'
9th Mar 2016 10:07
(ShareCast News) - Berenberg upgraded Royal Bank of Scotland to 'hold' from 'sell', keeping the target price at 250p. It said RBS has a strong core business, a solid capital position and a management team focused on cost-cutting and managing returns. "However, like a Russian doll, RBS's core value r
Read moreCMA extends deadline for retail banking investigation
7th Mar 2016 09:50
(ShareCast News) - The Competition and Markets Authority has decided to extend the deadline for its investigation into the UK retail banking sector, which it believes is not competitive enough. The CMA said the extension to 12 August from May is necessary to allow enough time to take full and proper
Read moreThursday newspaper share tips: Virgin Money, Challenger banks
3rd Mar 2016 16:40
(ShareCast News) - Homes are not always a safe repository of value, as property busts show, but at the moment they are the safest corner of the UK banking space. That was reflected yesterday in Virgin Money's full-year figures for return on tangible equity, which at 10.9% easily trumped those of the
Read moreMastercard said to plan £1bn Vocalink takeover bid
3rd Mar 2016 13:02
(ShareCast News) - US-based credit card issuer Mastercard has reportedly drawn up secret pans for a takeover of international payment systems provider Vocalink. According to Sky News, Mastercard has approached the board of bank-owned Vocalink about a deal that could be worth more than £1bn. More th
Read moreDirector dealings: RBS directors snap up GBP1m of shares
29th Feb 2016 15:43
(ShareCast News) - Royal Bank of Scotland's chairman, chief executive and finance director have together spent £1m buying shares as the state-owned bank hit its lowest levels for three and a half years. CEO Ross McEwan bought 200,000 at 223p for £446,000, with CFO Ewen Stevenson buying the same numb
Read moreMonday broker round-up
29th Feb 2016 13:16
(ShareCast News) - IMI: JP Morgan reiterates overweight with a target price of 850p, Credit Suisse and Canaccord stays at underperform, Investec and HSBC keep at buy, 920p and 1000p target respectively, Exane BNP Paribas maintains neutral and Societe Generale reiterates hold. Jupiter Fund Management
Read moreSunday newspaper round-up: Pound, GSK, Sainsbury's, HSBC
28th Feb 2016 17:29
(ShareCast News) - Sterling will fall to $1.28 by the end of 2016, its lowest level against the US dollar in three decades, currency strategists have cautioned. If Britain votes to leave the European Union the fall will be even worse, the Sunday Telegraph reported that Deutsche Bank analysts saw a f
Read moreFTSE 100 movers: Burberry leads index on rating upgrade
26th Feb 2016 14:21
(ShareCast News) - The FTSE 100 was set to finish the week on a positive note, with the blue chip index up 73.36 points (1.22%) to 6,086.17. Burberry led the risers after Nomura upgraded the fashion company to 'buy' from 'neutral' and lifted the price target to 1,500p from 1,450p. It said since the
Read moreUBS reaffirms Lloyds as top-pick, highlights high dividend yield
26th Feb 2016 12:08
(ShareCast News) - UBS reaffirmed Lloyd´s Banking Group as its 'top-pick' on Friday thanks to the lender´s capital generation targets, which in its opinion underwrote a dividend yield of over 8% in a Footsie that was "increasingly starved" of payouts. Analyst Jason Napier highlighted that the total
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