London midday: StanChart, energy stocks lead gains ahead of Budget statement
18th Mar 2015 12:03
Stocks were putting in decent gains on Wednesday ahead of the UK Budget and Federal Reserve policy meeting, with the FTSE 100 nearing the 6,900 level. Markets were mostly shrugging off slightly worse-than-expected labour-market data in morning trade, as the jobless rate in Britain unexpectedly held
Read moreBroker tips: Standard Chartered, HSBC, RSA Insurance
18th Mar 2015 11:43
Shares in Standard Chartered were surging on Wednesday after analyst at both Barclays and Bernstein raised their rating on the banking stock. Barclays analysts, which lifted their stance on StanChart from 'equal weight' to 'overweight', said they expect the recent appointment of Bill Winters as chie
Read moreStanChart shares surge after upgrades from Barclays and Bernstein
18th Mar 2015 09:26
Shares in Standard Chartered were surging on Wednesday after analysts at Barclays and Bernstein raised their rating on the banking stock. Barclays analysts, which lifted their stance on StanChart from 'equal weight' to 'overweight', said they expect the recent appointment of Bill Winters as chief ex
Read moreLondon open: Stocks rise ahead of UK Budget, Fed decision
18th Mar 2015 08:46
London stocks advanced on Wednesday morning, rising for a third straight day, as investors took a bullish approach ahead of the hotly-anticipated UK Budget and Federal Reserve policy decision. The FTSE 100 was trading up 0.3% at 6,859.81 in early deals. The market reaction to chancellor George Osbo
Read moreFTSE 100 movers: Astrazeneca soars on new diabetes research, RBS higher on upgrade
12th Mar 2015 14:00
AstraZeneca topped the risers as it committed $40m to backing phase 2a trials for a new diabetes drug - a form of long-acting insulin that only needs to be administered once week. Glaxosmithkline was boosted by news it plans to sell approximately half of its 12.4% stake in Aspen Pharmacare Holdings.
Read moreMorgan Stanley expects UK bank capital ratios to rise further to meet regulatory standards
9th Mar 2015 17:41
US heavyweight banking titan Morgan Stanley took note of the rising capital demands for UK banks in its latest note to clients and now expects that over 13% of Common Tier Equity 1 (CTE1) ratios to become the new baseline for the sector. "We see more evidence that the seemingly relentless march upwa
Read moreLondon close: Greek concerns send UK stocks to three-week low
9th Mar 2015 17:01
UK stocks fell on Monday, dropping to their lowest in three weeks, as renewed concerns about Greece weighed on sentiment. London's FTSE 100 finished down 0.51% at 6,876.47 by the end of trading on the back of losses in the real estate and construction sectors. The index has not closed below this lev
Read moreExane BNP Paribas says dividend cut possible at StanChart
9th Mar 2015 15:56
Exane BNP Paribas has lifted its target price for Standard Chartered from 875p to 940p, but kept an 'underperform' rating saying that a dividend cut at the bank is now more likely than not. Ahead of a new chief executive officer (CEO) arriving in June, StanChart has set out a new strategy to drive t
Read moreFTSE 100 movers: Exane boosts StanChart, sees buy-backs at Glencore
9th Mar 2015 14:04
Analysts at Exane BNP Paribas have hiked their price target on shares of Standard Chartered to 940p from 875p but write that that the chances of a dividend cut are now greater than 50%. On the plus side of things, the broker adds that the lender can now probably avoid a capital increase. On the subj
Read moreLondon midday: Greek fears hit UK stocks as ECB kicks off QE
9th Mar 2015 11:56
UK stocks were trading in the red on Monday despite gains in the heavyweight mining sector as Greek fears dampened sentiment. London's FTSE 100 was down 0.63% at 6,868.56 by midday. Greece's new government has threatened that they could call a referendum or have early elections if the Eurozone reje
Read moreMonday broker round-up
9th Mar 2015 11:29
Barclays: Charles Stanley reiterates accumulate. Nomura stays at buy, ups target to 81p from 78p. Lloyds: Investec reiterates buy and 85p target price. RSA: Credit Suisse reiterates outperform recommendation and hikes target to 525p from 475p. Goldman downgrades to sell from neutral. ARM Holdings:
Read moreStandard Chartered could consider moving its HQ to Asia
9th Mar 2015 10:31
The board of Standard Chartered could consider moving its global headquarters in Asia, according to reports. Citing two bankers familiar with the situation, India's Economic Times claimed that the London-based bank, which generates most of its revenue from Asia, could also discuss plans to spin off
Read moreLondon close: Stocks erase losses as ITV, StanChart and IAG gain
4th Mar 2015 16:41
After a weak start, UK markets managed to push into positive territory by Wednesday's close as decent gains from ITV, Standard Chartered and IAG offset some heavy falls in the mining sector. The FTSE 100 snapped three days of losses to finish up 0.44% at 6,919.24. Economic data from across the glob
Read moreFTSE 100 movers: ITV soars after beating 2014 forecasts, Fresnillo plunge on weak profits
4th Mar 2015 15:11
ITV topped the risers after the strongest advertising performance in five years helped it beat forecasts for 2014, as it hiked its annual dividend 34% and proposed an extra payout for shareholders. Numis Securities upped its rating on the broadcaster and producer from 'add' to 'buy'. Emerging market
Read moreSector movers: StanChart and Barclays give banks a boost
4th Mar 2015 14:53
Decent gains from the likes of Standard Chartered and Barclays drove the UK banking sector higher on Wednesday. Emerging markets-focused lender Standard Chartered was rising 4.3% in afternoon trade despite announcing that adjusted pre-tax profits in 2014 dropped 25% to $5.2bn as operating income fel
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