London midday: HSBC leads banks lower, as economic data comes in mixed
3rd Nov 2014 11:22
UK stocks pulled back from a four-week high on Monday morning after mixed global economic data and underwhelming results from banking heavyweight HSBC. After a positive start, the FTSE 100 had erased early gains and was trading 0.4% down at 6,521 by midday. The index closed at 6,546.47 on Friday, it
Read moreMonday broker round-up UPDATE
3rd Nov 2014 10:47
Aa: Liberum Capital initiates with a target price of 417p and a buy recommendation. Afren: UBS lowers target price from 130p to 115p, keeping a buy recommendation. Anglo American: Nomura reduces target price from 1550p to 1400p, while leaving its neutral rating unaltered. Barclays: Exane ups targe
Read moreNew leverage ratios 'clear the overhang' for UK banks, says JPMorgan
3rd Nov 2014 10:37
JPMorgan Cazenove has welcomed the new leverage-ratio rules from the Financial Policy Committee (FPC), saying that the outcome for UK banks was better than the market had expected. Analysts reiterated their 'overweight' positions on Lloyds and Barclays, but kept 'neutral' ratings for RBS, HSBC and S
Read moreInvestec downgrades RBS to 'sell' on weak outlook
3rd Nov 2014 09:17
Investec has downgraded its recommendation for Royal Bank of Scotland from 'hold' to 'sell' despite Friday's well-received third-quarter results, saying that the earnings and returns outlook for the bank is still weak. Analyst Ian Gordon acknowledged that RBS' performance in the third quarter was "e
Read moreLondon close: Stocks end higher after BoE announcement on leverage ratios
31st Oct 2014 16:35
Banking stocks drove the FTSE to a strong finish on Friday after the Bank of England (BoE) unveiled softer-than-expected requirements for banks' leverage ratios and also thanks in part to an unexpected boost to stimulus from the Bank of Japan announced overnight. The top tier closed the day 82.92 po
Read moreFTSE 100 movers: Barclays and RBS rise after BoE unveils softer-than-expected requirements for leverage ratios
31st Oct 2014 16:11
Banking stocks, already bolstered by stronger-than-expected quarterly results from RBS, received another big lift on Friday afternoon as the Bank of England unveiled softer-than-expected requirements for leverage ratios. The leverage ratio, a key gauge of a bank's ability to cushion itself against l
Read moreSector movers: Banking stocks surge on leverage ratio rules, RBS results
31st Oct 2014 15:02
Banking stocks, already bolstered by stronger-than-expected quarterly results from RBS, received another big lift on Friday afternoon as the Bank of England unveiled softer-than-expected requirements for leverage ratios. The leverage ratio, a key gauge of a bank's ability to cushion itself against l
Read moreBroker tips: RBS, St James's Place, Supergroup, Henderson
31st Oct 2014 13:03
Third-quarter profits from RBS were well-received by the stock market in London on Friday, though brokers remained divided over how to recommend the stock to investors. Analysts warned that, despite the progress made in the third quarter, one-off costs will continue to be a drag on RBS' bottom line
Read moreLondon midday: BoJ stimulus sparks surge, as RBS and IAG jump
31st Oct 2014 11:45
London's stock market surged on Friday, following on from a stellar performance by Asian stocks after Japan's central bank surprised with an increase to its monetary-easing programme. Better-than-expected quarterly profits from RBS and an increase to full-year guidance at IAG also helped to boost se
Read moreRBS making progress, but analysts raise concerns about future costs
31st Oct 2014 09:35
Third-quarter results from RBS were well-received by the stock market in London on Friday with shares rising strongly after better-than-expected profits and an improved balance sheet, though brokers remained divided over how to recommend the stock to investors. Analysts warned that, despite the pro
Read moreLondon open: RBS and IAG lead gains as UK stocks rise on BoJ stimulus
31st Oct 2014 08:34
London's stock market jumped in early deals on Friday, trading at levels not seen since the start of the month, after Japan's central bank unexpectedly ramped up its monetary-easing plan in a bid to revive growth. Sentiment was also helped by some well-received third-quarter results from heavyweight
Read moreRBS beats forecasts with Q3 profits, but warns of further charges - UPDATE
31st Oct 2014 07:25
Royal Bank of Scotland swung to a better-than-forecast £1.3bn in the third quarter of 2014, compared with a loss the year before, and said it was making early progress in its strategy to create a "simpler, clearer and fairer" bank. The part-nationalised lender also confirmed that it would be keeping
Read moreLondon pre-open: FTSE to jump after Bank of Japan increases rate of asset purchases
30th Oct 2014 20:06
The Bank of Japan's (BoJ) decision to increase its rate of asset purchases means global indices are set for strong gains on Friday. The FTSE 100 is predicted to open around 80 points higher than Thursday's close of 6,463.55. "Coming off the back of yet more weak inflation data, this move is both ra
Read moreThursday newspaper round-up: Ebola, Fed, RBS
29th Oct 2014 18:52
The Ebola outbreak in west Africa could have reached a turning point, according to the director of the Wellcome Trust, the Guardian reported on Thursday. Dr Jeremy Farrar, the director of the trust, which is funding a series of fast-tracked trials of vaccines and drugs against the virus, said tha
Read moreSector movers: Standard Chartered, Lloyds drag UK banks lower
28th Oct 2014 13:20
The second profit warning in a year from Standard Chartered and some underwhelming results from Lloyds ensured that the banking sector was the worst-performing segment in London on Tuesday. Shares of Asia-focused StanChart were down 9% in afternoon trade after the bank warned that second-half underl
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