London open: Influx of earnings and economic data keeps stocks flat
26th Feb 2015 08:24
UK stocks were more or less flat on Thursday morning with markets fluctuating at record highs amid a barrage of corporate earnings and economic data. The FTSE 100 was up just 0.03% at 6,937.80 early on. The index set a closing all-time high of 6,949.63 on Tuesday, having reached an intraday record o
Read moreStandard Chartered chief to step down in June, ex-JPMorgan banker Winters appointed
26th Feb 2015 08:23
Standard Chartered has appointed former JPMorgan investment banking boss Bill Winters as its new chief executive as it confirmed current boss Peter Sands will step down in June. Winters will receive an annual salary of £1.15m. In a major reshuffle that will eventually see the board slimmed down to
Read moreLondon close: HSBC dampens sentiment as investors wait on Greek news
23rd Feb 2015 16:30
A plunge in the share price of HSBC, falling commodity stocks and a lack of news regarding Greece ensured that UK equity markets remained in the red on Monday, with investors cautious with shares near all-time highs. HSBC dropped nearly 5% after the global lender missed forecasts with a sharp drop i
Read moreSector movers: Banking sector falls as HSBC disappointment offsets gains elsewhere
23rd Feb 2015 14:56
A 5% drop in the share price of HSBC pushed the banking sector firmly into the red on Monday even though shares of other lenders were making gains. Lloyds and RBS were still in positive territory in afternoon trade and Barclays was more or less flat, but given HSBC's size the whole sector was regis
Read moreMorgan Stanley picks Lloyds and Barclays as banks play "catch up"
20th Feb 2015 15:53
Morgan Stanley thinks European banks might now "start to play catch up" after an unusual period of underperformance in an improving macroeconomic environment. Although Greek concerns remain, the US investment bank believes some concerns about the banking sector are easing, such as deflationary risks
Read moreWednesday tips round-up: Wood Group, HSBC
18th Feb 2015 12:56
Investors should be wary of yesterday's surge in the shares of oil field services group Wood Group. The company reported a strong set of figures despite the recent drop in oil prices. However, one must keep in mind that most of that decline occurred towards the end of the year. That flattered the ou
Read moreInvestec downgrades StanChart but quashes need to raise capital
17th Feb 2015 11:01
Investec has "very reluctantly" lowered its rating for emerging markets-focused banking group Standard Chartered from 'buy' to 'hold', saying it sees a heightened risk of a capital-raising in 2015. The broker slashed its target price for the shares from 1,250p to 1,000p. "We continue to believe tha
Read moreBarclays, HSBC, RBS have ratings cut by S&P
3rd Feb 2015 17:41
Standard & Poor's has downgraded a number of UK and European banks on Tuesday. Barclays and Lloyds were lowered by two notches to 'BBB', while Royal Bank of Scotland was downgraded two notches to 'BBB-' and S&P cut HSBC by a notch to 'A'. Standard Chartered was downgraded one level to 'A-', while t
Read moreSunday newspaper round-up: Lloyds, BT, Standard Chartered
1st Feb 2015 13:33
Lloyds Banking Group is preparing to pay a dividend for the first time since it was bailed out by taxpayers, the Sunday Telegraph reported. The board will sign off the group's annual results and then ask the Bank of England permission to pay a dividend before announcing results on February 27th. Llo
Read moreSunday share tips: Mitie, UK Mail, Vodafone
18th Jan 2015 18:44
Mitie's shares have fallen but not as fast as those of outsourcing rivals such as Serco and Balfour Beatty, Danny Fortson pointed out in the Sunday Times. Matthew Earl, a former City analyst who writes a blog, criticised Mitie for buying companies to compensate for its own slow progress and for the
Read moreStandard Chartered may need $4.4bn boost to cover losses
12th Jan 2015 15:49
Standard Chartered could require $4.4bn extra to cover losses from commodities loans, which could force the bank to take on billion-dollar investments, according to analysts. Credit Suisse analysts said on Monday that Standard Chartered may have to raise $6.9bn to boost its capital ratio to 11% by D
Read moreThursday newspaper round-up: StanChart, Oil prices, City Link...
8th Jan 2015 06:43
Banking group Standard Chartered has exited its global equities business, the Financial Times writes, "in an abrupt move that underscores the bank's efforts to cut costs and refocus its business, and is also axing another 2,000 jobs in its retail division". Brent crude on Wednesday dropped below $50
Read moreLondon close: Stocks inch higher in shortened session as Santa Rally continues
24th Dec 2014 12:46
The UK stock market closed a half-session in positive territory on Christmas Eve to extend its winning streak into the seventh straight day. With trading volumes low - many European markets were already closed for Christmas - London stocks were rangebound for most of the session as investors refrain
Read moreSeven out of eight UK banks pass BoE stress tests, Co-op Bank fails
16th Dec 2014 07:10
Seven out of eight of the UK's largest banks and building societies have passed the Bank of England's (BoE) latest round of stress tests, with the struggling Co-operative Bank being the only lender to have failed. BoE governor Mark Carney said that the results show that "the core of the banking syst
Read moreLondon midday: Stocks tumble as oil prices extend losses, data disappoints
12th Dec 2014 11:36
Weaker-than-expected data from across the globe and a continued plunge in oil prices meant that there was no let-up in the sell-off for UK equity markets on Friday. Stocks were falling for the fifth day straight, with shares in the oil and gas sector faring the worst. London's FTSE 100 was down a s
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