London open: Fears of Cypriot bank run sink stocks after bailout deal
18th Mar 2013 08:27
Fears of a bank run in Cyprus and contagion across the wider Eurozone sparked a mass sell-off on European stock markets on Monday, as the Eurozone debt crisis rears its ugly head once again. Analysts at UniCredit said in their morning note to clients that markets would be in a "risk-off mood" today
Read moreThursday broker round-up UPDATE
14th Mar 2013 07:11
Amara Mining: After having been under review, Cantor Fitzgerald reinitiates coverage with a price target of 81p and a buy recommendation. Antofagasta: Citigroup shifts target price from 990p to 1000p, but retains its sell recommendation. Ashtead Group: Investec raises target price from 475p to 700
Read moreRBS sells stake in UK insurer Direct Line
13th Mar 2013 13:06
Royal Bank of Scotland (RBS) has sold a further stake in UK insurer Direct Line as part of the company's move to streamline business. The bank disposed an additional 17% of its interest in Direct Line for 201p per share, cutting its holding to a minority and raising gross proceeds of £507m. It c
Read moreLondon midday: FTSE 100 pulls back from five-year highs
13th Mar 2013 11:33
Stocks pulled back from five-year highs on Wednesday morning as traders took profits after industrial production data from the Eurozone disappointed. So far this year, the FTSE 100 index has gained nearly 10% and was yesterday trading near levels not seen since late 2007. Weighing on markets this
Read moreLondon open: Ex-div stocks weigh on FTSE 100 early on
13th Mar 2013 08:33
Traders chose to take profits on Wednesday morning, taking advantage of the strong gains seen in previous sessions, with the FTSE 100 pulling back sharply from five-year highs. So far this year, the index has gained nearly 10% and is trading near levels not seen since late 2007. According to Reute
Read moreWednesday newspaper round-up: RBS, Tesco, hibu...
13th Mar 2013 06:47
The Independent says that Royal Bank of Scotland is to raise a further half a billion pound by offloading a further holding in its listed insurance division, Direct Line. The bank announced late last night that it would be selling a 15.3 per cent stake in the insurer, leaving it with a 49.9 per cent
Read moreLondon close: Stocks gain as markets shrug off gloomy production data
12th Mar 2013 16:52
In spite of some dismal production data from the UK, the FTSE 100 finished Tuesday's session slightly higher as the benchmark index continues to set fresh five-year highs. Copper producer Antofagasta was providing a lift in London, rising on the back of its strong 2012 results, while IAG gained on
Read moreUS investment firm to bid at RBS branch auction
12th Mar 2013 13:59
A US private equity firm is looking to swoop in on the auction of more than 300 Royal Bank of Scotland branches, according to Sky News Tuesday. Centerbridge Partners is understood to have teamed up with UK buyout firm Corsair Capital in recent weeks to look at making offer for the state-backed lend
Read moreTuesday broker round-up UPDATE
12th Mar 2013 07:19
Abcam:Investec shifts target price from 484p to 487p and keeps a buy recommendation. Admiral Group: UBS ups target price from 1200p to 1275p and reiterates a neutral rating. Amlin: Westhouse Securities raises target price from 440p to 455p, but downgrades from add to neutral. Anite: Numis reduce
Read moreLondon close: FTSE 100 breaches 6,500 despite mixed data
11th Mar 2013 16:30
The FTSE 100 breached the psychological barrier of 6,500 on Monday afternoon, hitting fresh five-year highs, though gains were only slight given a barrage of mixed economic data released earlier in the session. The fact that a number of benchmark indices around the globe are trading at (or close to
Read moreFTSE 100 movers: Banks decline on calls for operations to be divided
11th Mar 2013 15:09
Barclays and RBS were both in the biggest fallers after the Parliamentary Commission on Banking Standards called for British banks to be forced to divide its routine retail operations from investment operations. The panel is looking for ways to bring about banking reform as part of the Banking Refor
Read moreMonday newspaper round-up: RBS, Tesco, Man U...
11th Mar 2013 06:47
The one billion pound sale of RBS's Williams & Glyn branches could gather speed on Monday as Andrew Higginson - the man leading a takeover attempt - holds meetings with a series of investors backing a bid for the 316 branches, says The Telegraph. The paper reports that the 17-member investor consort
Read moreFriday newspaper round-up: BP, RBS, John Lewis...
8th Mar 2013 06:39
According to the Financial Times, oil giant BP has warned of settlement costs 'significantly higher' than 7.7bn dollars in relation to its payout to business and individuals affected by the 2010 oil of spill in the Gulf of Mexico. In a note last week, the company forecasted the civil trial to cost i
Read moreThursday newspaper round-up: RBS, Bank of Japan, Microsoft...
7th Mar 2013 06:40
According to The Telegraph, up to 17.5m RBS customers were left without their money on Wednesday night were unable to access their accounts or withdraw money after the bank's systems crashed. The bank issued on Twitter read: 'We are aware of the problems our customers are having and apologise, we wi
Read moreFriday broker round-up UPDATE
1st Mar 2013 07:17
Ashtead Group: Citigroup increases target price from 487p to 590p and keeps a buy recommendation. Atkins: JP Morgan raises target price from 893p 920p, reiterating an overweight rating. Berendsen: Panmure Gordon moves target price from 582p to 760p, while staying with its hold recommendation. Cant
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