Citizens Financial reports earnings as RBS eyes further selldown
21st Jul 2015 14:31
(ShareCast News) - Citizen Financial, the US bank that Royal Bank of Scotland floated in New York last September, reported a big decline in second quarter earnings but they were still ahead of most analyst expectations. Underlying numbers from the Providence, Rhode Island-based banking outfit were e
Read moreFriday broker round-up
17th Jul 2015 16:13
(ShareCast News) - Anglo American: SocGen reiterates hold but trims target to 950p from 1090p. ARM Holdings: Investec reiterates buy and 1,140p target. Barclays: Investec downgrades to sell with 265p target. Capita: Morgan Stanley ups target to 990p from 950p and reiterates underweight. RBS: Inve
Read moreSir Howard Davies to become RBS chairman
14th Jul 2015 10:58
(ShareCast News) - Sir Howard Davies has joined the board of Royal Bank of Scotland with immediate effect and will assume chairmanship of the majority state-owned bank in a matter of months. In a short statement released on Tuesday, the FTSE 100 group said Davies, whose appointment had originally be
Read moreIngenious, HSBC, UBS and Coutts sued by 'tax avoidance' clients
13th Jul 2015 12:26
(ShareCast News) - Private client banks such as Royal Bank of Scotland's Coutts, HSBC and UBS have been sued by clients for wrongly advising them to invest in film investment specialist Ingenious as its schemes have since been labelled by tax authorities as tax-avoidance vehicles. Ingenious Media an
Read moreUK Chancellor George Osborne to cut bank levy
8th Jul 2015 13:04
In the first Conservative Budget since 1996, Chancellor George Osborne announced that the bank levy rate will be gradually reduced over the next six years and a new 8% surcharge on bank profits will be introduced from January 2016. After that, Osborne said he will ensure the levy no longer applies t
Read moreLondon midday: FTSE bounces despite China sell-off and Greek uncertainty
8th Jul 2015 11:23
UK stocks advanced on Wednesday in spite of a sell-off in China overnight and ongoing uncertainties surrounding Greece, as markets bounced back after falling to their lowest in nearly six months. The FTSE 100 was up 0.7% at 6,477.14 by midday, after settling at 6,432.21 on Tuesday, its lowest since
Read moreBroker tips: RBS, Tate & Lyle, Dairy Crest
8th Jul 2015 11:19
Charles Stanley has raised its recommendation for Royal Bank of Scotland from 'reduce' to 'hold', saying the stock is now "fairly valued" despite remaining misconduct uncertainties. The broker said RBS has been the standout laggard in the UK banking sector so far this year, falling by 15%. "We belie
Read moreCharles Stanley upgrades RBS to 'hold' after recent falls
8th Jul 2015 11:02
Charles Stanley has raised its recommendation for Royal Bank of Scotland from 'reduce' to 'hold', saying the stock is now "fairly valued" despite remaining misconduct uncertainties. The broker said RBS has been the standout laggard in the UK banking sector so far this year, falling by 15%. Part of
Read moreUK reportedly looking to sell half its stake in RBS in two years
6th Jul 2015 13:59
The UK government is reportedly planning to sell half its stake in Royal Bank of Scotland, worth £16bn, within two years of a possible first sale in September. Chancellor George Osborne said in June that he wanted the government to start selling its stake in the coming months, with initial sales lik
Read moreLondon close: Stocks fall as traders take profits ahead of Greek referendum
3rd Jul 2015 16:31
UK stocks finished firmly lower on Friday as investors showed their nerves ahead of a pivotal weekend for Greece as the public votes on creditors' bailout proposals. With the result of the referendum apparently too close to call and reports claiming that Greek banks were beginning to run out of mone
Read moreFitch holds rating on RBS, says bank has cushion to absorb further fines
3rd Jul 2015 16:11
Ratings agency Fitch Ratings held a 'BBB+' rating on Royal Bank of Scotland amid unexpected revelations it faced a $13bn payout to settle a court case brought by a US government department. Fitch said in a note while the latest round of conduct and litigation fines would immediately impact profit, t
Read moreFTSE 100 movers: RBS hit by mortgage bond allegations, Vodafone by ML note
3rd Jul 2015 13:34
UK stocks inched lower on Friday, as investors continued to fret in the run up to Sunday's Greek referendum. As of 14:30 BST, the FTSE 100 was trading 0.5% lower at 6,595, led by Vodafone after a negative note on the telecoms giant by Merrill Lynch, which told clients it felt the stock's recovery re
Read moreLondon midday: Banks, miners slip as risk appetite declines ahead of Greek vote
3rd Jul 2015 12:09
UK stocks slipped on a quiet Friday, with US markets closed ahead of the Fourth of July holiday and as investor sentiment remained driven by Sunday's upcoming referendum in Greece. With polls suggesting the Greek public's vote on bailout proposals remains too close to call, investors were scaling ba
Read moreLondon open: UK stocks slip ahead of Greek referendum, RBS
3rd Jul 2015 09:13
UK stocks opened slightly lower on Friday morning head of a crucial weekend for Greece, as the government holds a referendum on European bailout proposals. With Friday's economic data calendar looking sparse, investor sentiment was likely to be driven by developments in Athens, as the latest polls s
Read moreLondon pre-open: Flat start expected with investors nervous ahead of Greek referendum
3rd Jul 2015 07:49
UK stocks are expected to open flat on Friday morning as market pause for breath ahead of a quiet day, with investors awaiting a pivotal weekend for Greece. City sources predict the FTSE 100 will open four points lower than Thursday's close of 6,630.47. "With only tier-2 data releases in the calend
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