Standard Chartered's 'deep cuts' are needed, says Citi
7th Sep 2015 13:33
(ShareCast News) - After unconfirmed news emerged that Standard Chartered may be cutting a quarter of its senior bankers, Citi maintained its 'buy' rating and 1,050p price target but highlighted that productivity metrics were poor compared to peers. Also over the weekend were reports that StanChart
Read moreBank surcharge forecasts "vastly understate" pain on sector, says EY
7th Sep 2015 13:30
(ShareCast News) - The banking sector will have to pay out vastly more than expected from George Osborne's new profits surcharge, which was introduced to reduce the pain of the Bank Levy on lenders such as HSBC. When the Chancellor unveiled the new 8% surcharge on bank profits and plans to lower the
Read moreSunday newspaper round-up: Bank tax, TSB bid plans, China nuclear deal
6th Sep 2015 17:05
(ShareCast News) - The Treasury is facing fresh opposition over its new bank tax, with both Labour and the Scottish National party (SNP) arguing it will weaken competition in the sector and proposing changes to the Finance Bill to reduce the charge for smaller operators. The opposition parties are c
Read moreStandard Chartered plans to cut 250 managing directors, reports say
4th Sep 2015 16:34
(ShareCast News) - Standard Chartered is reportedly considering cutting its senior banking staff by a quarter, as it seeks to rebound from a two-year profit slide. According to sources cited by Bloomberg, the FTSE 100 lender, which makes the majority of its earnings in Asia, plans to cut approximate
Read moreFTSE 100 movers: Miners push higher, StanChart rebounds from recent losses
27th Aug 2015 14:17
(ShareCast News) - London's top-flight index was firmly on the font foot on Thursday, with miners pacing the advance, as Asian markets stabilised following intervention from the People's Bank of China, and as expectations of a rate hike by the Federal Reserve were pushed back. Asia-focused Standard
Read moreFTSE 100 movers: Easyjet falls as Greece, Asia worries drag index lower
21st Aug 2015 13:54
(ShareCast News) - The FTSE 100 fell 1.6% as political turmoil in Greece and further falls in Asia drove the sell off. The index blue-chip shares was down 103.8 points to 6,264 at 1435 BST. Pharmaceuticals firm Shire led the fallers, down 4% while Easyjet flew 3.4% lower. Standard Chartered shares
Read moreRBS, Barclays and HSBC among nine banks to settle forex-rigging claims
14th Aug 2015 14:52
(ShareCast News) - HSBC, Barclays and Royal Bank of Scotland are among nine banks that have agreed a settlement with US investors over foreign exchange rate rigging claims, with litigation continuing a group of 12 others that includes Standard Chartered. UBS, Citibank, Goldman Sachs, BNP Paribas, Ba
Read moreLondon close: UK stocks end in the red after China cuts renminbi
11th Aug 2015 16:15
(ShareCast News) - UK stocks ended Tuesday's session in the red after China's central bank devalued its currency, adding to concerns about the slowdown in the world's second largest economy. Overnight, the People's Bank of China cut the renminbi's daily fixed rate to the dollar by 1.9% to 6,228, the
Read moreSector movers: Financials, miners and airlines lead London market higher
5th Aug 2015 16:03
(ShareCast News) - Financial stocks and miners led the London market higher on Wednesday, as improved economic data from China buoyed the market. The FTSE 100 closed up 0.98% or 65.84 points at 6752.41, while the FTSE 250 ended up 0.23% or 40.65 points at 17775.08 on a bounceback from miners as shor
Read moreNomura stays neutral on Standard Chartered as rights issue concerns remain
5th Aug 2015 15:08
(ShareCast News) - Nomura has reiterated its 'neutral' rating on Standard Chartered and a target price of 1,170p after the FTSE 100 bank's interim results on Wednesday. Second-quarter revenues were materially weaker than consensus expectations, with costs comparable with the consensus expected run-r
Read moreStandard Chartered slashes dividend 50%, analysts cheer 'great move'
5th Aug 2015 10:41
(ShareCast News) - Standard Chartered slashed its interim and full year dividend in half as incoming chief executive Bill Winters admitted the "very real challenges" the bank faced. Winters, the former boss of JPMorgan's investment bank, has moved quickly to strengthen the Asia-focused bank's capita
Read moreLondon close: Losses in commodities keep a lid on Footsie
20th Jul 2015 18:15
(ShareCast News) - Softness in commodity markets kept a lid on equities in London, with some traders pointing out there was still margin for further downside moves in the likes of oil and gold, as investors monitored events in Greece. In the afternoon the International Monetary Fund said Greece has
Read moreFTSE 100 movers: Sports Direct kicked higher, Pearson spikes on FT rumours
20th Jul 2015 14:02
(ShareCast News) - London markets inched higher on Monday as weakness in the commodities market was outshone by strength in the pharmaceutical, technological and financial sectors. As of 14:15 BST, the FTSE 100 was trading 0.23% higher at 6,791. Sports Direct International topped the risers as Exan
Read moreLondon midday: Commodities weigh on equity gains, further gold and oil downside eyed
20th Jul 2015 12:57
(ShareCast News) - Softness in commodities markets were limiting gains on equities come midday in London, with some traders pointing out there was still margin for further downside moves in the likes of oil or gold, as investors monitored events in Greece. That followed a wave of selling in gold dur
Read moreLondon open: Global banks lead early gains, Aveva rockets
20th Jul 2015 09:53
(ShareCast News) - Risk appetite in markets was muted but positive in early trading as traders' eyes turned again towards Greece given the dearth of economic data due out on Monday. Greek banks reopened their doors and limits on cash withdrawals were relaxed slightly as the country prepared to pay b
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