Thursday broker round-up
11th Feb 2016 13:52
(ShareCast News) - ARM Holdings: JP Morgan reiterates neutral with a target of 950p, Exane BNP Paribas keeps at outperform, 1300p target, Deutsche Bank stays at hold, 1000p target, Goldman Sachs maintains buy with a target of 1400p, Citigroup keeps at neutral and Bryan, Garnier & Co reiterates buy.
Read moreFTSE 100 movers: StanChart leads market lower on Citi note
3rd Feb 2016 15:54
(ShareCast News) - The FTSE 100 was down again on Wednesday, dropping 78.22 points (1.32%) to 5,843.79 by mid-afternoon. Standard Chartered plunged after Citi lowered its target price on the shares of Asia-focused and commodity-exposed lender. The broker described the lender's valuation at 0.5 times
Read moreCiti cuts target on StanChart, points out correlation with oil price
3rd Feb 2016 14:37
(ShareCast News) - Analysts at Citi on Wednesday lowered their target price on the shares of Asia-focused and commodity-exposed lender StanChart. The broker described the lender´s valuation at 0.5 times estimated 2016 price-to-tangible book value as "low" in the context of global banks. Despite tha
Read moreBroker tips: PZ Cussons, Vodafone, UK banks
26th Jan 2016 13:06
(ShareCast News) - PZ Cussons has achieved a "solid" first half given the challenges, according to Investec. The consumer goods company reported a 0.2% dip in reported revenue to £385.9m in the first half due to foreign exchange headwinds. Pre-tax profit fell 3.7% on a reported basis to £42.1m. The
Read moreUBS ups RBS to 'buy' as it re-initiates coverage on UK banks
26th Jan 2016 09:02
(ShareCast News) - UBS re-initiated coverage on the five large UK banks, backed by new models and analytical support. It upgraded Royal Bank of Scotland to 'buy' from 'neutral', cutting the target price to 350p from 363p. UBS argued that until now, the bank's small index weight - 0.6% of the FTSE 1
Read moreSunday newspaper round-up: HMRC's new tax deals, Tesco's debt, Sainsbury's
24th Jan 2016 16:11
(ShareCast News) - In the wake of Google's £130m tax settlement with the UK taxman, other giant US corporations are close to shaking hands on their own deals. HM Revenue & Customs officials have confirmed to the Sunday Times that Amazon, Facebook, Microsoft and McDonald's are all close to agreements
Read moreStanChart upgraded to buy on new management focus
14th Jan 2016 14:07
(ShareCast News) - Standard Chartered has been upgraded from 'hold' to 'buy' by Berenberg, citing recent events giving it three key catalysts for the company to change. In a note released on Thursday, it said the bank is no longer a "loser" and now has "a core business to focus on, enough capital to
Read moreBroker tips: Home Retail, Dechra Pharma, StanChar
14th Jan 2016 14:06
(ShareCast News) - Dechra Pharmaceuticals remains a strong stock with plenty in the pipeline, according to Investec on Thursday. In a trading update for the first half, the company reported revenue growth of 15% at a constant exchange rate (CER), including the integration of Genera which was bought
Read moreLloyds downgraded on Exane's bleak outlook for sector
13th Jan 2016 08:49
(ShareCast News) - Exane BNP Paribas has downgraded Lloyds Banking Group from 'neutral' to 'underperform' and reiterated its 'underperform' rating for Barclays on a bleak operational outlook for UK banks. In a note to investors on Wednesday, it said comments from the Department for Business, Innovat
Read moreFTSE 100 movers: Miners slump on China data but Randgold shines
4th Jan 2016 14:00
(ShareCast News) - London's FTSE 100 was down 2.2% to 6,106.37 at 1418 GMT, kicking off the new year with broad-based losses following the release of uninspiring Chinese data. Heavily-weighted miners, which are heavily reliant on demand from China, were hit hard following the release of disappointin
Read moreLondon close: Stocks end lower on slump in commodities
30th Dec 2015 16:19
(ShareCast News) - UK stocks slumped on Wednesday as shares in mining and oil producers declined. Oil prices reversed the previous day's gains on concerns about a supply glut after a report showed an unexpected rise in US crude inventories. The Energy Information Administration said US crude invent
Read moreFTSE 100 movers: Worldpay strong but banks out of favour
30th Dec 2015 14:18
(ShareCast News) - London's FTSE 100 was down 0.6% to 6,274.20 at 1425 GMT, giving back some gains following a solid performance in the previous session, in holiday-thinned trade. With volumes low and many traders still away from their desks for the Christmas and New Year holidays, there was no real
Read moreStandard Chartered outlines board changes
21st Dec 2015 10:24
(ShareCast News) - Asia-focused Standard Chartered on Monday confirmed the departure of non-executive directors Ruth Markland and Paul Skinner. The bank also announced that independent non-executive director and chair of the Board Risk Committee Lars Thunell has decided to step down. StanChart said
Read moreDBS refutes CLSA report over StanChart takeover
18th Dec 2015 09:46
(ShareCast News) - DBS said on Friday that there was "no basis" to a report from CLSA suggesting that the Singapore-based lender may be interested in acquiring Standard Chartered. "There is no basis to the report, and it is not on our agenda," a DBS spokesman said. CLSA put out a research note on T
Read moreTemasek will wait before deciding on StanChart stake
17th Dec 2015 17:48
(ShareCast News) - Standard Chartered got a boost from a report that a sovereign wealth fund was willing to give it more breathing room to successfully complete its turnaround, before deciding what to do with its stake in the lender. Reuters reported that, for the moment, Singapore´s SWF, Temasek, w
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