London pre-open: StanChart set to slump
7th Aug 2012 07:27
City sources predict the FTSE 100 will open up one point from yesterday's close of 5,809, ignoring a strong finish in the US ahead of UK industrial and manufacturing output data. Thoughts have also already turned to important data due out on Thursday from China, which will include both inflation a
Read moreStandard Chartered hammered by Iran allegations
7th Aug 2012 07:03
Emerging markets focused banking titan Standard Chartered has been called to task by a US banking regulator for alleged collusion with the government of Iran to hide transactions from the US authorities. According to the notice served on Standard Chartered Bank (SCB), a wholly owned subsidiary of S
Read moreLondon close: Credit Suisse thinks defensive-led rally will continue
6th Aug 2012 17:06
- Greece making progress - RBS up on US sale rumours - StanChart in the spotlight over Iranian transactions UK stocks started the week strongly on the back of improvements in Greece and hopes of imminent action from the European Central Bank (ECB) to stem the crisis. After a meeting between the Tr
Read moreStanChart craters just a few minutes before the Monday close
6th Aug 2012 17:01
Standard Chartered may lose its license to operate in the state of New York, according to the New York State Department of Financial Services. For almost ten years, Standard Chartered Bank (SCB) schemed with the Government of Iran and hid from regulators roughly 60,000 secret transactions, involvi
Read moreLondon close: Markets rocket after US July jobs data
3rd Aug 2012 16:27
- US payrolls smash expectations - Short-term EZ periphery bond yields plummet - FTSE Mibtel and Ibex 35 finish 6% higher each - Euro bounces back - Expectations for further QE in US tempered Equity markets across Europe surged on Friday, rebounding strongly after a poor run the day before, as so
Read moreSector movers: Miners, financials gain after US jobs data
3rd Aug 2012 15:50
There were no sectors in the red on Friday in London as some uplifting economic data from the US increased investors' risk appetite. Some 163,000 US payrolls were added in July, well ahead of the 100,000 expected by economists. Meanwhile, the non-manufacturing index from the Institute for Supply Ma
Read moreLondon midday: Footsie rebounds strongly after Draghi-fuelled sell-off
3rd Aug 2012 11:39
- RBS leaders risers after first-half figures - Markets await US data - Peripheral yields fall, ECB rumours do the rounds The Footsie was up 1.3 per cent by midday on Friday as strong gains in the financial sector provided a lift to the blue-chip index as it attempted to claw its way back from a he
Read moreThursday broker round-up
2nd Aug 2012 10:00
Aggreko: Investec keeps buy rating and 2,520p target. Antofagasta: UBS lifts tagged from 850p to 870p, sell rating unchanged. BAE Systems: Investec maintains hold rating and 290p target. Drax: AlphaValue downgrades to reduce. ENRC: UBS cuts tagged from 640p to 615p, buy rating maintained. Filtr
Read moreLondon close: Stocks higher despite remarks from German minister
1st Aug 2012 16:30
UK investors were in the mood to accentuate the positive on Wednesday, focusing on some solid trading updates and shrugging off disappointing manufacturing data. UK manufacturing production fell at its fastest pace in over two years in July, recording substantial declines in output and new orders.
Read moreFTSE 100 movers: Miners head lower on poor data
1st Aug 2012 15:28
Mining stocks spent the day in the doghouse as China's manufacturing data provided no more encouragement for bulls of the sector than did the UK's. Russian steel giant Evraz turned lower on the data, as did miners Randgold, Vedanta, Fresnillo and ENRC, the last mentioned after a run of the mill pr
Read moreLondon midday: Footsie shrugs off PMI disappointment
1st Aug 2012 11:51
Footsie ended the morning close to its highest level of the day, despite UK manufacturing data giving investors pause for thought earlier on. UK manufacturing production fell at its fastest pace in over two years in July, recording substantial declines in output and new orders. Markit's Purchasi
Read moreLondon open: Stormy times for Cape
1st Aug 2012 08:42
London has got off to a quiet start, with investors adopting a wait-and-see attitude ahead of today's completion of the meeting of the US Federal Reserve's policy making committee. "It seems hope and sentiment for further stimulus from the US Fed Chairman and the ECB [European Central Bank] Preside
Read moreLondon pre-open: Slight declines ahead of July data
1st Aug 2012 07:27
City sources predict the FTSE 100 will open down two points from yesterday's close of 5,635, edging slightly lower over concerns relating to recent reports which revealed a slowdown of manufacturing in Asia. Investors are also likely to exercise caution ahead of economic announcements out today, w
Read moreStandard Chartered happy to be boring
1st Aug 2012 07:19
Standard Chartered, the bank focused on emerging markets, notched up a record first half profit for the tenth successive year and worried that the performance might be seen as 'boring' in the current context of dramatic events in the banking sector. Profit before tax for the six months to the end
Read moreWednesday preview: Standard Chartered, Next, house prices
31st Jul 2012 15:53
Banks have had a torrid time of it this year and, for that matter, the previous three or four years as well, but emerging markets focused operator Standard Chartered has emerged from the 'baker-bashing' era largely unscathed. Just over a month ago the bank indicated that it had made a strong start
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