London close: Stocks erase losses after late US-inspired rally
2nd Jul 2013 16:34
A strong start on Wall Street helped the FTSE 100 erase its earlier losses on Tuesday, though markets still ended flat ahead of some key 'risk events' expected later on in the week. After hitting an intraday low of 6,268 earlier on, London's benchmark index rallied strongly in afternoon trade to fi
Read moreRothschild to be appointed advisor to RBS split
2nd Jul 2013 14:25
Rothschild is this week expected to be named advisor on the potential separation of Royal Bank of Scotland into a good bank and bad bank, according to reports. The investment bank is said to have been chosen by the UK government to assess the 81% state-owned lender and will begin writing a report i
Read moreTuesday newspaper round-up: RBS, BoE, Sainsbury, Barclays
2nd Jul 2013 06:44
Rothschild looks set to be named by the government as the adviser to run assessment for the potential split of the Royal Bank of Scotland into a good bank and bad bank, the Financial Times reported. The Bank of England's new Governor Mark Carney started his first day on Monday with stronger econom
Read moreLondon close: Stocks rise on first day of Carney's mandate
1st Jul 2013 17:24
Equities began the third quarter on a strong note, buoyed in part by a bullish note from strategists at JP Morgan on commodity prices. Alongside a slightly better than expected reading on US manufacturing that helped to compensate for a somewhat weak reading on Chinese manufacturing overnight. Coinc
Read moreMonday broker round-up UPDATE
1st Jul 2013 07:27
Ashmore Group: Canaccord Genuity lowers target price from 399p to 380p, while its buy recommendation remains unchanged. ASOS: Panmure Gordon increases target price from 4320p to 4555p and retains a buy recommendation. AVEVA Group: Sanlam Securities reduces target price from 2500p to 2325p leaving
Read moreBanks asked to tender for role in Lloyds, RBS share sale process
28th Jun 2013 14:11
The UK government took the first step in the eventual reprivatisation of Royal Bank of Scotland and Lloyds Banking Group by asking investment banks to tender for a role in the share sales. UK Financial Investments, which manages the stakes on behalf of the government, has told bank advisers to regi
Read moreFriday newspaper round-up: Ted Baker, MF Global, RBS
28th Jun 2013 06:49
The Church of England has backed consortium of financiers who are trying to win a bid for 315 Royal Bank of Scotland branches with millions of pounds, The Telegraph reported. Ted Baker's Chief Executive and founder, Ray Kelvin, is selling a £20m stake of the company. He placed 1.2m shares at £17, r
Read moreFTSE 100 movers: Smiths Group tops the leaderboard
27th Jun 2013 13:21
Engineering companies Smiths Group and Weir Group were the top gainers on Thursday.UBS upgraded Smith Group's stock to 'buy' from 'neutral', helping to push shares higher. Tate & Lyle advanced as Morgan Stanley rated the sweetener maker's stock for the first time on Thursday, recommending an 'overw
Read moreLondon close: Markets suffer another sell-off as sentiment remains fragile
24th Jun 2013 16:41
Markets suffered another heavy sell-off on Monday, sending the FTSE 100 to levels not seen since the start of the year, as concerns over a slowdown in China and last week's Federal Reserve policy meeting continuing to hit markets across the globe. London's FTSE 100 finished the day down 87 points,
Read moreFTSE 100 movers: Miners fall on concerns over Chinese slowdown
24th Jun 2013 14:13
Mining stocks were again bearing the brunt of the market-wide sell-off on Monday on concerns over slowing growth in China after Goldman Sachs cut its growth forecasts for the powerhouse for this year and the next. Vedanta, Antofagasta, Glencore Xstrata and Anglo American were all registering moderat
Read moreLondon midday: FTSE 100 nearly erases year-to-date gains
24th Jun 2013 11:38
After a bright start, the FTSE 100 had sunk sharply into the red by Monday lunchtime with the index having nearly erased all of the impressive gains made since the start of the year. The Footsie was trading 1.05% lower by midday at around 6,052, compared to an intraday high of 6,132 reached early o
Read moreBroker tips: RBS, Vodafone, Supermarkets
24th Jun 2013 11:02
Investec has upped its recommendation for part-nationalised bank Royal Bank of Scotland from 'sell' to 'hold', saying that the stock is 'marginally oversold' after the steep sell-off over recent sessions. "Given increased political disarray, despite deep 'valuation support', we do acknowledge the p
Read moreBroker snap: Investec upgrades RBS after recent falls
24th Jun 2013 09:14
Investec has upped its recommendation for part-nationalised bank Royal Bank of Scotland from 'sell' to 'hold', saying that the stock is 'marginally oversold' after the steep sell-off over recent sessions. "Enough! The RBS share price has collapsed by 12% in two days, and by 20% in a month, reclaimi
Read moreMonday broker round-up UPDATE
24th Jun 2013 07:36
Andor Technology: WH Ireland cuts target price from 500p to 380p, while staying with its buy recommendation. Investec upgrades from hold to buy with a target price of 360p. Ashtead Group: Numis raises target price from 582p to 640p, while downgrading to hold. Bellzone Mining: Investec lowers targe
Read moreLondon close: Markets struggle to regain poise after Fed meeting
21st Jun 2013 17:49
Stocks retreated once again on Friday, following another session of convulsions in global capital markets. Quite poignantly, on Friday one US policy maker - the President of the Federal Reserve bank of St.Louis - criticised Ben Bernanke´s poor timing regarding the announcement of a detailed plan for
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