Technical Analysis: Banking sector testing resistance
24th Jul 2009 11:19
June 2007 seems a long time ago now, and it certainly has been a long time for the banking sector, because this was the last time that the value of the sector was above its 200 day moving average. It's certainly been a long hard slog but there does seem to be some light at the end of the tunnel, h
Read moreLondon midday: Shares pause for breath
22nd Jul 2009 12:07
Leading shares are mixed, with losses on miners and banks offset by gains on defensive favourites such as tobaccos and utilities. Mining giant BHP Billiton set the tone for the sector with its annual production report this morning. Quarterly (Apr-Jun) production increased for 12 major commodities
Read moreBroker tips: Standard Chartered, Greene King, Game
2nd Jul 2009 13:20
Though it continues to favour fellow Asia-focused bank HSBC, UBS has moved from a negative to a neutral stance on Standard Chartered, and sees the shares becoming becalmed in the near future. UBS has upped its price target from £10 to £11.40, some 50p below Standard Chartered's current share price.
Read moreBroker snap: UBS upgrades Standard but prefers HSBC
2nd Jul 2009 13:05
Though it continues to favour fellow Asia-focused bank HSBC, UBS has moved from a negative to a neutral stance on Standard Chartered, and sees the shares becoming becalmed in the near future. UBS has upped its price target from £10 to £11.40, some 50p below its current share price. The Swiss bank
Read moreStandard Chartered to name John Peace as chairman
2nd Jul 2009 08:25
Asia-focused bank Standard Chartered will make acting chairman John Peace's job permanent today, according to reports. The 60-year-old, best known for his role in the split-up of GUS in 2006, has chaired the bank since Lord Davies of Abersoch left after becoming Trade Minister in January. Peace i
Read moreThursday newspaper round-up: National Express, StanChart, Vodafone
2nd Jul 2009 06:17
National Express is heading for a major legal battle with the Government over the future of its two remaining rail franchises after ministers said they were taking control of the East Coast main line. Lord Adonis, the Transport Minister, triggered a furious row with the company by warning that the
Read moreLondon close: Footsie adds 2%
1st Jul 2009 16:34
Miners were rampant Wednesday on stronger commodity prices, leaving the sector heavyweights dominating the blue chip index. There was healthy demand for gold on the metal markets, while copper also improved. The red metal headed higher following strong Chinese manufacturing data, while decreasing s
Read moreLondon afternoon: Resource stocks lead the way
1st Jul 2009 14:29
Resource stocks lead the market higher after the second half of the year got off to a good start following better than expected factory output data. The CIPS/Markit manufacturing purchasing managers' index rose to 47 in June from 45.4 the month before and a gloomy 34.9 in February. Most of the top
Read moreStanChart and ANZ said to buy RBS assets
1st Jul 2009 14:17
Standard Chartered and ANZ, Australia's fourth-largest lender, are reportedly in advanced talks to buy separate parts of Royal Bank of Scotland's Asian assets. The Financial Times is quoting people familiar with the matter as saying that Standard Chartered could snap up RBS assets in China, India a
Read moreSunday tips round-up: FirstGroup, Standard Chartered, Kier
28th Jun 2009 12:57
FirstGroup shares were 657p last summer but today they are 370¾p. The stock has been affected by concerns about transport companies in general, concerns about fuel costs and concerns about debt. But First is in a far better position than most other transport groups, its debt is being paid off stea
Read moreLondon afternoon: Banks and miners retreat
25th Jun 2009 14:27
Leading equities drift lower in the afternoon session, led by banks and miners. Asia-focused bank Standard Chartered eases back, despite enjoying record income and operating profit in the first five months of this year. Some of this success has been offset by weakness in consumer banking, however,
Read moreLondon midday: Prices drift lower
25th Jun 2009 12:13
Shares continue to drift lower despite expectations of a firm start on Wall Street. Asia-focused bank Standard Chartered eases back, despite enjoying record income and operating profit in the first five months of this year. Some of this success has been offset by weakness in consumer banking, howe
Read moreFTSE 100 movers: RBS higher, Standard Chartered dips
25th Jun 2009 11:57
Royal Bank of Scotland got a boost from broker Cazenove, which has turned positive on the bank. Subscribing to the "less is more" dictum, Cazenove says the appeal of Royal Bank of Scotland (RBS) is that it intends to reduce in size, and it has plenty of assets outside its UK heartland that it can,
Read moreSector movers: Construction stocks move ahead
25th Jun 2009 11:13
Support services group Northern Bear is one of the companies leading the construction and materials sector higher, but with three other companies reporting, the sector is mixed. Northern Bear, up 11%, posted a rise in profits despite tough trading, helped by its exposure to specialist businesses su
Read moreStandard Chartered flags strong first half
25th Jun 2009 10:08
Standard Chartered enjoyed record income and operating profit before tax in the first five months of this year, although the Asia-focused bank remains cautious on the outlook. Its wholesale banking business has had a "very strong" first half to date, with market share and asset margins both increas
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