Broker tips: RBS, Petrofac, Euromoney
25th Sep 2009 12:57
The share price of part-nationalised bank Royal Bank of Scotland (RBS) has recovered from just above 35p in mid-July to more than 50p, a rally that continues to perplex Goldman Sachs. The US investment bank expects RBS to remain loss-making in the short term, while the threat of another cash call c
Read moreFTSE 100 movers: Goldman perplexed by RBS
25th Sep 2009 12:44
Goldman Sachs is perplexed by the share price recovery from part-nationalised bank Royal Bank of Scotland from 35p in mid-July to more than 50p. The US investment bank expects RBS to remain loss-making in the short term, while the threat of another cash call continues to hang over the bank's share
Read moreBroker snap: US sell-off a possibility for RBS
25th Sep 2009 11:03
The share price of part-nationalised bank Royal Bank of Scotland (RBS) has recovered from just above 35p in mid-July to more than 50p, a rally that continues to perplex Goldman Sachs. The US investment bank expects RBS to remain loss-making in the short term, while the threat of another cash call c
Read moreFTSE 100 movers: Liberty taps shareholders again
23rd Sep 2009 12:44
Property group Liberty pulled the rug from under the property sector with its £280m placing at 500p. The retail park specialist has already had one hefty placing this year, raising £590m through a placing and open offer at 310p, and investors seemingly balked at this latest tap. The 500p placing p
Read moreTuesday newspaper round-up: Cadbury, G20, Royal Bank of Scotland
22nd Sep 2009 06:16
Cadbury has approached the UK Takeover Panel to ask Kraft to "put up or shut up" on the unsolicited £10.2bn takeover offer from the US food group three weeks ago. Cadbury approached the panel on Monday to ask Kraft either to make a formal takeover proposal or walk away for six months, said people c
Read moreRBS indicates rights issue a possibility
21st Sep 2009 17:55
Royal Bank of Scotland admits it is considering 'partial alternatives' to issuing the government with more 'B' shares as part of the toxic asset protection scheme (APS), which it's thought could mean a £4bn rights issue. 'RBS is currently in negotiations with Her Majesty's Government regarding fina
Read moreLondon close: End of road for winning run
21st Sep 2009 16:21
London's six-day rally ended Monday after banks were sold on fundraising talks and as miners retreated on weaker metal prices. Part-nationalised lender Royal Bank of Scotland (RBS) was the biggest faller on reports it is mulling a share issue of between £3-4bn to reduce its dependence on the UK gov
Read moreFTSE 100 movers: Broker upgrade lifts M&S
21st Sep 2009 15:12
High Street leviathan Marks & Spencer was one of the best performers today after Societe Generale raised its target price and earnings estimates for the stock. SocGen has raised its forecast for profit before tax in the current financial year to £654m from £596m, which the broker says puts its for
Read moreLondon afternoon: RBS's rights plans disappoint
21st Sep 2009 14:26
Share prices are drifting lower as investors take stock following the market's recent strong run. Royal Bank of Scotland (RBS) is lower on reports that it is mulling a share issue of between £3-4bn to reduce its dependence on the UK government's toxic asset protection scheme (APS). Lloyds confirmed
Read moreLondon midday: Miners in a hole
21st Sep 2009 12:24
Investors took an opportunity to bank profits in what has been a quiet session for news, with miners wearing the worst of the losses. Weaker metal prices have Fresnillo, Xstrata, Kazakhmys, Vedanta and Rio Tinto deep in the red. Even Antofagasta is lower now despite a positive note from Goldman Sac
Read moreLondon open: Footsie slips in early dealings
21st Sep 2009 08:38
London's blue chips have made a sluggish start to the week with corporate activity limited to a bit of asset and balance sheet tidying up by Punch and LandSecs. Punch Taverns has bought back another tranche of convertible debt due for redemption next year, reducing the amount outstanding to just ov
Read moreLondon pre-open: Top stocks to drop
21st Sep 2009 07:32
London's blue chips look set to open slightly lower with traders expecting Footsie to drop around 5 points in early dealings. Punch Taverns has bought back another tranche of convertible debt due for redemption next year, reducing the amount outstanding to just over £100m. The pub owner has bought
Read moreRBS mulls cash call to avoid toxic debt scheme
21st Sep 2009 07:32
Royal Bank of Scotland is mulling a share issue of between £3-4bn to reduce its dependence on the UK government's toxic asset protection scheme (APS). The move echoes similar moves by Lloyds, as, increasingly, the APS scheme is seen as too expensive a form of insurance by bank shareholders and dire
Read moreMonday newspaper round-up: Royal Bank of Scotland, ITV, House prices
21st Sep 2009 06:25
Royal Bank of Scotland is to consider a £3bn-£4bn share issue to reduce the stake it would hand to the government for joining its toxic assets insurance scheme and has approached its biggest investors about the idea. Plans are "tentative" and Stephen Hester, RBS's chief executive, is still "putting
Read moreLondon close: Footsie winning streak continues
18th Sep 2009 16:38
London's rising streak continued but it was a bit of a struggle with the absence of economic news and a flat start on Wall Street keeping activity at low levels. Banks provided what little excitement there was, with Lloyds Banking, RBS, HSBC and Barclays the most widely traded blue-chips, with the
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