Schroders in talks to buy Cazenove Capital
22nd Mar 2013 14:32
Schroders confirmed on Friday that it was in talks to buy Cazenove Capital Holdings. The British multinational asset management company released a statement saying it was considering a cash offer for Cazenove, which manages £18.7bn in assets. The firm has until April 19th to decide. Schroders' a
Read moreSchroders loses UK fund manger Richard Buxton to Old Mutual
15th Mar 2013 11:33
Schroders' Head of UK Investment Richard Buxton is leaving to join rival company Old Mutual, it was announced Friday. Buxton, one of the UK's top fund managers, will step down in June after 11 years at the company. It comes as a serious blow to Schroders as Buxton runs more than £4.0bn for the gro
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 moreMonday broker round-up UPDATE
11th Mar 2013 07:23
Admiral Group: Berenberg ups target price from 1000p to 1060p, but still recommends selling. Amlin: Westhouse Securities raises target price from 440p to 455p, but downgrades from add to neutral. Anite Group: Invetsec downgrades from buy to hold with a target price of 157p. Aviva: Citigroup reduc
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 moreLondon close: Markets cement gains after strong US jobs data
8th Mar 2013 16:56
The FTSE 100 registered its highest closing price in over five years on Friday after a key indicator of the US labour market smashed expectations. However, the figures failed to give stocks a boost in afternoon trade as investors pondered whether the data is strong enough to prompt the Federal Rese
Read moreLondon midday: Stocks rise as market prices in strong US jobs data
8th Mar 2013 11:36
Markets maintained their positive bias on Friday morning as traders showed confidence ahead of a key reading of labour-market strength in the US later on, the February employment report. Increased risk appetite in London meant that financial stocks were leading the way higher today. Expectations r
Read moreBroker tips: HSBC, Schroders, Centrica
8th Mar 2013 11:12
Nomura has retained its 'buy' rating and 900p target price for global banking giant HSBC after its full-year results earlier this week, highlighting the company's strong cost-control momentum, improving revenue outlook and strong capital position. On current valuations, the broker said that the imp
Read moreBroker snap: UBS upgrades Schroders as headwinds reduce
8th Mar 2013 09:06
UBS has upgraded its rating for asset management firm Schroders from 'sell' to 'neutral' and hiked its target price from 1,700p to 2,050p, saying that the company as 'strong momentum' now that headwinds are starting to come off. Following the group's full-year results on Thursday, Nomura said that
Read moreLondon open: Risk appetite increases ahead of US jobs report
8th Mar 2013 08:25
The FTSE 100 was firmly in positive territory on Friday morning ahead of the crucial US employment report due out this afternoon, with traders hoping that jobs figures could beat forecasts given the solid economic data seen as of late. The US jobs report, out at 13:30 London time, is expected to gi
Read moreFriday broker round-up UPDATE
8th Mar 2013 07:42
Advanced Computer Software Group: Canaccord Genuity raises target price from 80p to 108p and reiterates a buy recommendation. Aggreko: Jefferies raises target price from 2000p to 2200p keeping its buy recommendation. Cantor Fitzgerald takes target price from 2020p to 2200p and stays with its buy re
Read moreLondon close: Markets unfazed as central banks hold fire
7th Mar 2013 17:06
The FTSE 100 finished with moderate gains on Thursday as investors digested policy-rate decisions in both the UK and Europe. Matt Basi, the Head of UK Sales Trading at CMC Markets, said European stock markets experienced "jittery trade" with traders pausing for thought after the significant gains o
Read moreFTSE 100 movers: Aviva dives after slashing dividend
7th Mar 2013 15:04
Insurance giant Aviva was forced to slash to dividend after swinging into the red in 2012, after taking a 3.3bn-pound write-down on a disposal in the US. Aviva also said that its overall situation does not warrant bonuses for executive directors for 2012 or pay rises for 2013. Shares dropped sharply
Read moreLondon midday: Stocks gain as BoE holds fire
7th Mar 2013 11:59
Stocks were making moderate gains by Thursday lunchtime despite the Bank of England (BoE) refraining from further easing to boost the UK economy. At noon, the BoE revealed that policy-makers had voted to maintain interest rates at their record-low level of 0.5% (where they have been since March 200
Read moreLondon open: Fed comments provide support ahead of BoE, ECB
7th Mar 2013 08:43
The FTSE 100 held on to recent gains on Thursday morning ahead of central-bank policy decisions in the UK and Europe, as comments from the Federal Reserve provided some support. According to the Fed's Beige Book released last night, the US economy expanded at a "modest to moderate pace" at the star
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