Sunday newspaper round-up: Bank ringfencing, UK deflation, Ryanair, Aveva
17th May 2015 16:17
Government plans to "ring fence" bank's high street business from their more risky investment banks could be watered down in an attempt to keep the likes of HSBC in the UK, according to the Sunday Times. The Treasury and the Bank of England have begun talks with senior City bankers on potential refo
Read moreTuesday broker round-up
12th May 2015 12:59
HSBC: Macquarie downgrades to underperform and lowers target to 520p from 600p. StanChart: Macquarie downgrades to underperform and lowers target to 850p from 950p. easyJet: Panmure Gordon reiterates buy with 2,000p target, Numis stays at buy with 2,100p target. Mitchells&Butlers: JP Morgan Cazeno
Read moreMacquarie downgrades HSBC and StanChart
12th May 2015 09:03
On Tuesday analysts at Macquarie downgraded their recommendations on shares of HSBC and Standard Chartered. The Australia-based broker lowered its recommendation on the former by two notches to underperform. The broker thinks it may be the first big bank to break-up. They set a price target of 520
Read moreThursday newspaper round-up: Elections, JPMorgan, Clydesdale Bank
7th May 2015 06:38
"David Cameron and Ed Miliband made their final pleas to voters on Wednesday, as the UK heads to the general election vote with pollsters saying the contest is tied," the Financial Times said. French prosecutors have launched a formal investigation into JPMorgan Chase's main US banking unit about po
Read moreStandard Chartered unveils new CEO
6th May 2015 11:15
Banking giant Standard Chartered has confirmed Bill Winters will be appointed as new chief executive from 10 June. The 53-year-old American, who has been running his own hedge fund in London since leaving JP Morgan in 2009, was first announced as Peter Sands' replacement on 26 February and joined th
Read moreThursday broker round-up
30th Apr 2015 18:01
Schroders: Credit Suisse reiterates outperform and 2,770p target price. Tesco: UBS restarts coverage at buy with 260p target. Pearson: Westhouse Securities reiterates sell and 1,185p target price. RBS: Shore Capital reiterates hold, Numis reiterates add (with 400p target), Investec reiterates hold
Read moreWednesday broker round-up
29th Apr 2015 19:53
Sky: JP Morgan reiterates neutral stance and 1,170p target. GlaxoSmithKline: UBS reiterates buy and 1,700p target. StanChart: Nomura reiterates neutral and lifts target to 1,170p from 1,030p. UBS reiterates neutral stance with 1,000p target. Henderson Group: Citi reiterates buy with 3,250p target.
Read moreWednesday newspaper round-up: Mike Coupe sentenced, David Cameron, Horse Hill
29th Apr 2015 06:52
Mike Couple, the chief executive of J Sainsbury, has been sentenced to two years in jail in Egypt, reports The Times. "The case relates to claims that last July Mr Coupe tried to seize cheques connected with the collapse of a business it invested in 16 years ago, in contravention of Egyptian bankrup
Read moreFTSE 100 movers: Astrazeneca hit by rival success, Centrica higher on takeover preparations
28th Apr 2015 13:28
Astrazeneca was trading lower after the results of a study showed US rival Merck's diabetes drug met heart-safety requirements. The British drug-maker's own treatment for the disease was recently required by US authorities to provide information about the risk of heart failure. Standard Chartered wa
Read moreStandard Chartered first quarter misses targets as de-risking hurts business
28th Apr 2015 11:18
Revenues from Standard Chartered fell more than expected in the first three months of the year as the Asia-focused bank faced challenging trading conditions and said its deleveraging measures hit performance. Total revenues slipped 4% to $4.4bn, a 6% miss versus consensus forecasts of $4.7bn, but cu
Read moreFTSE 100 movers: HSBC soars on potential high street spin-off, house builders lower
27th Apr 2015 13:27
HSBC surged as reports emerged that it may spin-off its UK high street banking business, ahead of a review of its headquarters' location. Asia-facing bank Standard Chartered, also situated in London, rose on speculation it could follow suit with a move out of the capital. Prudential was making gain
Read moreLondon close: Tesco leads the decline as hawkish BoE spooks markets
22nd Apr 2015 17:08
A record loss from the UK's largest retailer and hawkish comments from the Bank of England combined to push stocks in London lower on Wednesday. The FTSE 100 finished the session down 0.49% at 7,028.24, pulling back after rising to a high of 7,092.34 early on. The index came close to its intraday hi
Read moreFTSE 100 movers: Rolls-Royce surges on new management, Tesco hit by worst losses in 97 years
22nd Apr 2015 13:27
Engine maker Rolls-Royce topped the risers after chief executive John Rishton announced plans to retire this summer. He will be succeeded by former ARM Holdings boss Warren East. UK timber and builders merchant Travis Perkins also gained after saying group sales were up 7.2% in the first quarter des
Read moreLondon midday: FTSE falls as Tesco erases gains and financial stocks weaken
22nd Apr 2015 12:11
Following a temporary foray into positive territory, UK stocks were firmly lower by Wednesday lunchtime as supermarket giant Tesco erased earlier gains after reporting an eye-watering £6.4bn annual loss. London's FTSE 100 was down 0.66% at 7,016.59 by midday, pulling back quickly after a brief stint
Read moreBroker tips: Tesco, StanChart, BT Group, Tate & Lyle
22nd Apr 2015 11:44
Record annual losses from Tesco were widely attacked by financial analysts and City traders but there was optimism that the results showed several hints of a turnaround. Deutsche Bank took an optimistic view: "While there are arguably a few more downward pressures than upward pressures, we don't exp
Read more