RBS is said to be narrowing the field for bidders for 300-plus branches
21st Mar 2013 09:41
Royal Bank of Scotland Group has begun to go through bidders for the 316 branches that regulators are forcing it to sell as UK fund managers face off against offers from US private equity firms, Bloomberg news agency reported unnamed people with knowledge of the discussions as saying. The news age
Read moreLondon open: Eurozone PMI data overshadows Cyprus crisis
21st Mar 2013 09:02
UK stocks have begun the day firmly lower, weighed down by the much weaker than forecast manufacturing and services sector data just out in the Eurozone. The Markit manufacturing sector purchasing managers' index for the month of March has come in at 46.6, versus 47.9 for the month before (Consens
Read moreLondon close: Markets subdued in Budget aftermath
20th Mar 2013 16:16
Markets on the whole gave a muted reaction to George Osborne's Budget Statement today, in which he warned that Britain would grow less and borrow more than originally estimated, while traders continued to digest developments elsewhere, including the Cypriot bailout and a meeting at the US Federal Re
Read moreFTSE 100 movers: RBS boosted by Liberum Capital upgrade
20th Mar 2013 15:49
Royal Bank of Scotland was higher after Liberum Capital upgraded the stock to 'buy' with its target price at 340p. Hammerson also climbed following an upgrade by Oriel Securities to add. A number of property and construction & materials companies were higher, boosted by new plans unveiled in the
Read moreWednesday broker round-up UPDATE
20th Mar 2013 08:53
Abcam: Canaccord Genuity moves target price from 344p to 358p, but still recommends selling. Antofagasta: Jefferies cuts target price from 1350p to 1100p, while keeping a hold recommendation. ASOS: Cantor Fitzgerald raises target price from 2500p to 2900p reiterating a hold recommendation. Panmure
Read moreLondon close: Cypriot vote on deposit tax sinks stocks late on
19th Mar 2013 17:06
After a brief spell in positive territory at lunchtime, UK stocks sunk back into the red by the close of trade on Tuesday as leaders in Cyprus gathered to vote on the deposit tax, a controversial measure deemed necessary to save the country from default. Traders were also nervous ahead of tomorrow'
Read moreLondon midday: Miners fall as fears over Cyprus dent markets
19th Mar 2013 11:31
Heavy falls in the mining sector ensured that the resource-heavy FTSE 100 index was trading firmly in the red on Tuesday morning with sentiment still fragile in the aftermath of the bailout deal for Cyprus and the controversial idea to tax customer accounts. Market Analyst Craig Erlam from Alpari s
Read moreBroker tips: Fresnillo, RBS, Kazakhmys
19th Mar 2013 11:18
Deutsche Bank has cut its rating for precious metals giant Fresnillo from 'hold' to 'sell', saying that the current share price is pricing in a near-perfect delivery of their medium-term growth prospects and a recovery in metals prices. They said that the stock's premium against the sector could sh
Read moreBroker snap: Investec upgrades RBS to 'hold'
19th Mar 2013 09:33
Investec has upgraded its rating for Royal Bank of Scotland (RBS) from 'sell' to 'hold', saying it sees a 'speck of light in the gloom'. "Given the risk of a potentially horrific and dilutive outcome for shareholders after today's Financial Policy Committee meeting, despite a c.20% two-month correc
Read moreTuesday broker round-up UPDATE
19th Mar 2013 07:21
Admiral Group: Canaccord Genuity raises target price from 1050p to 1215p, but reiterates its sell recommendation. BAE Systems: Investec moves target price from 325p to 375p retaining a hold recommendation. Balfour Beatty: Numis lowers target price from 330p to 300p and downgrades to add. BHP Bill
Read moreTuesday newspaper round-up: Citigroup, RBS, easyJet...
19th Mar 2013 06:51
US banking giant Citigroup is to pay 730m dollars to settle claims about allegedly misleading investors over its exposure to subprime mortgages between 2006 and 2008, reports the Financial Times. The paper says that this is the second-biggest class action payout in relation to the financial crisis.
Read moreLondon close: Stocks trim losses as bank-run fears subside
18th Mar 2013 16:44
After registering sharp declines early on, stock markets across Europe had clawed back losses by the close of trade on Monday, as concerns of a contagious bank run across the Eurozone periphery were eased. Markets suffered a steep sell-off in the morning session after this weekend's controversial b
Read moreFTSE 100 movers: M&S leads risers on Qatar rumours
18th Mar 2013 15:43
Takeover speculation at M&S stepped up a gear this weekend with Qatar's sovereign wealth fund thought to be mulling a bid for the High Street giant worth eight billion pounds. According to the Sunday Times, the Qatar Investment Authority is said to be assembling a consortium of private-equity invest
Read moreLondon midday: Banks, miners drop after controversial bailout deal in Cyprus
18th Mar 2013 11:44
Markets were in risk-off mode on Monday morning as fears over the Eurozone debt crisis resurfaced after a deal to bail out Cyprus sparked a run on banks across the country. Banks and miners were bearing the brunt of the sell-off in London after Cyprus' €10bn bailout deal with the Troika - a move in
Read moreBroker snap: Nomura prefers HSBC and StanChart among UK banks
18th Mar 2013 11:03
Nomura has reviewed its ratings in the UK banking sector, reiterating its preference for emerging markets-focused lenders HSBC and Standard Chartered, both rated 'buy'. The broker said it continues to have a "defensive/growth bias" within the sector and believes that both HSBC and StanChart are "we
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