StanChart earnings held back by capital improvement, says Credit Suisse
22nd Apr 2015 11:40
Credit Suisse has lowered its price target for emerging markets-focused lender Standard Chartered from 880p to 850p and kept an 'underperform' rating, causing shares to slip on Wednesday. The Swiss investment bank said StanChart is "trading earnings for capital". "The company is now prioritising bu
Read moreFriday tips round-up: UK Banks, Cranswick
10th Apr 2015 17:27
The loan loss ratio for UK banks stood at 0.14% at the end of 2014 according to Standard&Poor's, versus 0.69% in 2013 - a rare positive for the sector. It is a reflection of faster economic growth, low interest rates, higher property prices, banks' sale of dodgy property loans, lending deemed proble
Read moreUK banks paid 60% of profits in fines, KPMG says
7th Apr 2015 07:25
The UK's largest banks have collectively paid 60% of their profits since 2011 towards regulatory fines and reimbursing customers for mis-selling, according to KPMG. In a new report published on Tuesday, the global advisory firm estimated that such costs, including repayments related to Payment Prote
Read moreSunday newspaper round-up: Chancellor, General election, Kellogg
6th Apr 2015 15:10
The Chancellor has promised a "revolution" in home ownership if the Conservatives win the general election, the Sunday Telegraph reported. George Osborne said he wanted to help more than a million people buy a first home. He proposed expanding the existing Help to Buy programme, in which the Governm
Read moreBanking stocks rise with Morgan Stanley upbeat about QE impact
1st Apr 2015 14:01
Shares of UK domestic lenders were making gains on Wednesday after upbeat comments from analysts at Morgan Stanley in a note issued after the US bank's conference on the financial sector last week. Morgan Stanley named British banks Barclays and Lloyds among its most preferred stocks in the European
Read moreBank of England unveils plan for 2015 'stress tests' on UK banks
30th Mar 2015 14:13
The Bank of England on Monday outlined fresh plans to assess the UK's banks in the event of another global economic crisis. The new plan will be applied to the largest UK banks and building societies. The BoE said the purpose of the test is to ensure that the UK banking system can withstand a sever
Read moreWednesday tips round-up: Wolseley, Standard Chartered
25th Mar 2015 19:21
An improving US economy drove revenues and profits higher at homebuilders' merchant Wolseley over the last half year. The London-listed outfit derived three-quarters of its profits from the States. Significantly, its stock trades on about 18 times' earnings, versus approximately 22 times profit fore
Read moreLondon close: FTSE ekes out new record despite Greek uncertainty
23rd Mar 2015 17:19
After a subdued start, the Footsie managed to edge higher to a new record on Monday though worries about Greece limited upside for London's stocks. The FTSE 100 finished the session up 0.22% at 7,037.67, surpassing the previous all-time closing high of 7,022.51 set on Friday. Stocks on the continen
Read moreMonday broker round-up
23rd Mar 2015 13:51
RBS: Nomura reiterates buy and lowers target to 350p from 370p. WPP: Westhouse Securities reiterates add lifts target to 1732p from 1577p. HSBC: Nomura reiterates neutral and shaves target to 590p. StanChart: JP Morgan upgrades to overweight. Citi reiterates buy and lifts target to 1300p from 1250
Read moreBroker tips: Standard Chartered, Carnival, Smith & Nephew, Weir
23rd Mar 2015 12:24
UK listed bank Standard Chartered has had its rating promoted to 'overweight' from 'neutral' at JPMorgan. The US bank said that although it is hesitant to change its view for the arrival of the new chief executive which has been a material positive, "we believe that last week's UK budget may lead th
Read moreLondon midday: FTSE fluctuates around 7,000 as Greek concerns weigh
23rd Mar 2015 11:42
UK stocks retreated slightly from a record high on Monday morning on the back of uncertainty in Greece, though decent gains from banking, oil and mining stocks were providing some support. The FTSE 100 was down 0.09% at 7,016 by midday, pulling back after setting a new all-time closing high of 7,022
Read moreBroker tips: StanChart, Michael Page, Next
20th Mar 2015 12:32
Standard Chartered's rating on Friday was downgraded to 'sell' from 'hold' at Investec Securities as the scale and pace of the stock's absolute and relative share price recovery "has finally tipped us over the edge." The broker noted that year-to-date, the stock has materially outperformed all other
Read moreStandard Chartered downgraded to sell from hold at Investec Securities
20th Mar 2015 11:31
Standard Chartered's rating on Friday was downgraded to 'sell' from 'hold' at Investec Securities as the scale and pace of the stock's absolute and relative share price recovery "has finally tipped us over the edge." The broker noted that year-to-date, the stock has materially outperformed the FTSE
Read moreLondon close: FTSE jumps 1.6% after business-friendly Budget, Fed meeting ahead
18th Mar 2015 16:41
Those expecting little market reaction to the Budget on Wednesday were probably left surprised, with stocks in the energy, financial, housing and consumer staples sectors leading the surge in London following George Osborne's statement. Dovish comments from Bank of England policymakers were also buo
Read moreFTSE 100 movers: Standard Chartered surges on upgrades, miners lower
18th Mar 2015 12:58
Shares in Standard Chartered surged after analysts at Barclays and Bernstein raised their ratings, highlighting the recent appointment of a former JPMorgan banker as its new boss. Barclays lifted their stance from 'equal weight' to 'overweight', while Bernstein upgraded by two notches from 'underper
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