London midday: Stocks settle after ECB refinancing
29th Feb 2012 11:38
- Higher-than-expected LTRO take-up. - ITV surges on 'exceptional turnaround'. - Ludowici issues overshadow impressive 2011 for Weir. The initial celebration of the results of the European Central Bank's (ECB's) refinancing operation quickly faded in late morning trade, with the Footsie broadly fl
Read moreBroker snap: In-line results from Standard Chartered, says Nomura
29th Feb 2012 10:06
Nomura has maintained its buy rating and 1,800p target price for Asia-focused banking giant Standard Chartered, highlighting the group's in-line results and guidance of double-digit growth in the current year. "STAN reported numbers that were broadly in line with our estimates. Outlook statement is
Read moreWednesday broker round-up - UPDATE
29th Feb 2012 09:11
ITV: Nomura maintains neutral recommendation and 88p target; Prime Markets gives buy rating and 95p target; Peel Hunt ups target from 83p to 88p, hold rating kept. Standard Chartered: Nomura keeps buy rating and 1,800p target. CRH: UBS ups target from 1,150p to 1,300p, neutral rating kept. Schrod
Read moreLondon open: Stocks flat ahead of ECB refinancing operation
29th Feb 2012 08:31
- Investors await ECB's LTRO. - ITV jumps 7% after strong 2011. - Ludowici issues overshadow impressive 2011 for Weir. The Footsie lacked direction in the opening hour on Wednesday as investors hold out for the result of the European Central Bank's (ECB's) second longer term refinancing operation,
Read moreLondon pre-open: Investors hold out for today's ECB announcement
29th Feb 2012 07:31
City sources predict the FTSE 100 will open up five points from yesterday's close of 5,928, as investors hold out for the result of the European Central Bank's second longer term refinancing operation, to be announced later today. Consensus expectations are for bank bids worth €470bn in liquidity, w
Read moreStandard Chartered in good shape after another record year
29th Feb 2012 07:18
Asia-focused banking colossus Standard Chartered notched up its ninth successive year of record income and profit in 2011 and reckons it is in good shape to face whatever 2012 throws at it. Profit before tax was up 11% to $6,775m in 2011 from $6,122m in 2010. Operating income moved up by one-tenth
Read moreWednesday preview: Standard Chartered, Taylor Wimpey, IAG
28th Feb 2012 15:59
Standard Chartered becomes the second London-quoted but predominantly oversea-focused banking giant to report this week, following in the foot-steps of HSBC. Nomura thinks there may be risks of estimate downgrades but notes this is true for virtually all banks. In December, Standard Chartered said
Read moreWeek Ahead: Asia-focused banks under the spotlight
24th Feb 2012 13:56
Banks are likely to be once again in focus next week, with the focus shifting from UK government-owned operators to two firms with strong presences in Asia: HSBC and Standard Chartered. On Monday, HSBC will update the market on its fourth quarter performance and also publish its full year numbers.
Read moreWednesday broker round-up - UPDATE
22nd Feb 2012 09:32
Vodafone: Credit Suisse cuts target from 175p to 170p, outperform rating kept. Vedanta Resources: Credit Suisse maintains neutral rating and 1,400p target. AMEC: UBS raises target from 1,225p to 1,325p, buy rating unchanged; Nomura raises target from 1,130p to 1,240p, buy rating unchanged. HSBC:
Read moreLondon close: Stocks finish down with Greece in focus
15th Feb 2012 16:38
- Oil rises on supply concerns. - PBOC to keep buying Eurozone debt. - Samaras to honour terms of new package. Despite an earlier rise, the FTSE 100 index slumped in afternoon trade to finish in the red as strong performance by banks was offset by some heavyweight stocks that went ex-dividend. All
Read moreLondon midday: Banks provide a boost
15th Feb 2012 11:45
- Banks lead the risers on the Footsie. - PBOC to keep buying Eurozone debt. - Venizelos foresees bailout resolution. UK stocks were slightly higher by midday after China pledged to continue buying Eurozone bonds, easing concerns of the region's debt crisis. Banks were the best performers of the d
Read moreLondon open: Stocks rise as China pledges to keep helping Eurozone
15th Feb 2012 08:19
- PBOC to keep buying Eurozone debt. - Eurogroup meeting cancelled. - Essar leads the risers early on. UK stocks rose in early trading on Wednesday, rebounding after yesterday's decline, with European indices following Asian markets higher after China pledged to continue buying Eurozone debt. Spea
Read moreLondon close: Greek optimism buoys Footsie
13th Feb 2012 16:39
- Stocks rise as Greece approves austerity package. - CBI cuts UK GDP forecasts. - Vodafone confirms potential takeover of C&W Worldwide. Stocks managed to hold on to gains on Monday as Greece moves one step closer to securing the next crucial tranche of aid. Mining and financial stocks led the ri
Read moreLondon close: Stocks slip as Greek talks commence
8th Feb 2012 16:37
- Greek talks now underway in Athens. - Investors await policy decision by BoE tomorrow. - Reckitt leads risers after full-year results. The earlier optimistic mood in global equity markets soon faded as talks between Greek leaders commenced on Wednesday afternoon. The Footsie slipped towards the e
Read more2012 to be a tough year for UK, but Citi still overweight on banks
8th Feb 2012 16:29
In spite of what Citi believes will be another tough year for the UK economy, the US investment bank has reiterated its overweight position on UK banks. 2012 will be another difficult year, the broker says, with "continued emphasis on balance sheet repair after the surge in private and public debt
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