Monday newspaper round-up: HSBC, Royal Mail, Marks & Spencer...
8th Nov 2010 06:34
Some of the biggest trade finance providers, led by HSBC and Standard Chartered, are lobbying to have tough capital rules toned down, warning that if they are not, world trade could be severely hampered, the FT reports. HSBC, among the banks that dominate the trade finance market, said last week th
Read moreStandard Chartered rights gets 98.53% take-up
8th Nov 2010 00:58
The £3.26bn rights call announced by Standard Chartered last month may have taken the markets by surprise, but it seems to have been reasonably well supported. The emerging markets focused bank said valid acceptances in respect of 256.7m new ordinary shares were received, representing about 98.53%
Read moreBank levy to raise £2.5bn
21st Oct 2010 16:47
A permanent tax on the banks will raise about £2.5bn each year by 2012-13 onwards, the government said today. The new levy comes into force from January and will mean the banks make "'a fair contribution" to the potential risks they pose to the financial system and to encourage them to move to less
Read moreLondon open: Flat start ahead of review
19th Oct 2010 08:50
London has recovered from an early blip as investors get ready for tomorrow's comprehensive spending review. Banks are largely responsible for the revival with Barclays, Standard Chartered and RBS all ahead. Autonomy is flat even though chief Mike Lynch said growth prospects for the data search so
Read moreTuesday tips round-up: Standard Chartered, SABMiller, Hardy...
19th Oct 2010 06:41
Is Standard Chartered the world's best bank? It has been said in some quarters, and quite seriously. StanChart has grown profits year on year and, while it didn't exactly laugh in the face of the financial crisis, it sailed through it more smoothly than virtually any other Western bank. On 15 times
Read moreStandard Chartered takes full control of Indian broker
18th Oct 2010 08:06
Emerging markets focused bank Standard Chartered has bought out its minority partner in its Indian brokerage business. Standard Chartered has acquired the 25.1% stake in Standard Chartered-STCI Capital Markets held by Securities Trading Corporation of India (STCI). The company will be rebranded in
Read moreSunday newspaper round-up: Rio Tinto, BHP Billiton, Vedanta, Immigration
17th Oct 2010 13:21
Two of the world's largest mining companies are set to abandon a £70 billion merger of their iron-ore operations after Europe indicated it would block the deal. BHP Billiton and Rio Tinto wanted to put their Australian operations into a joint venture that would have controlled about a third of the w
Read moreLondon open: Slow start for blue chips
15th Oct 2010 08:50
Footsie has made an unconvincing start to the day but has just about reversed the weaker trend seen at the death yesterday. Banks are going well and have recouped most of yesterday's losses. Barclays, Royal Bank of Scotland and Lloyds are all in demand this morning. HSBC is ready to step away fro
Read moreFriday tips round-up: Mothercare, WH Smith, Standard Chartered...
15th Oct 2010 06:40
Yesterday's second-quarter trading update from Mothercare was rather a mixed bag with the majority of the good news due to the babycare retailer's "rapid" international growth. The UK retail market was still "uncertain" and the City was taking a guarded view of the company's prospects. The retailer
Read moreFriday newspaper round-up: HSBC, Dollar, Equitable Life...
15th Oct 2010 06:31
HSBC is close to walking away from a £5bn ($8bn) plan to buy Nedbank in South Africa, after a two-month period of exclusive talks with majority owner Old Mutual expires this weekend. The bank is not in a position to make an offer for Nedbank before the period of exclusivity finishes, according to p
Read moreLondon close: Weak end to dull day
14th Oct 2010 16:35
Leading shares closed lower on a poor day for the banks and a tumble for African Barrick. Fears that Standard Chartered's rights issue yesterday could be the start of a flood of cash calls unsettled Lloyds, Royal Bank of Scotland and Barclays. Metal prices are back on the rise as the dollar heads
Read moreFTSE 100 movers: Cash call fears hit banks
14th Oct 2010 14:00
Banks are leading the Footsie lower as investors worry that they will follow the lead of Standard Chartered and ask for more cash. RBS is the worst performer but Barclays and Lloyds are close behind. Miners are on the rise, except for African Barrick Gold, as metals prices are firming. Rio Tin
Read moreBroker tips: Vodafone, Standard Chartered, Ashmore
14th Oct 2010 13:01
Positive earnings momentum for Vodafone has seen Nomura Securities upgrade its earnings per share forecasts for the telecoms titan by 5-6%. "Strong cost reductions should drive organic earnings before interest, taxes, depreciation and amortization inflexion in the second half (+2% year-on-year) an
Read moreBroker snap: Mild dilution for StanChart's return profile
14th Oct 2010 12:38
Nomura expects bullish movement from Standard Chartered despite stricter capital requirements for banks. Standard Chartered yesterday announced a 1-for-8 rights issue to raise about $5.1bn, around 13% of its market capital, to prepare the bank for the Basle III requirements. The company intends to
Read moreThursday newspaper round-up: Banks, Lloyds, airlines
14th Oct 2010 06:25
Britain's biggest banks have admitted for the first time that there was a problem with lending to small businesses and that they should offer greater support. In a wide-ranging report published last night, the banks - Barclays, Royal Bank of Scotland, Lloyds Banking Group, HSBC, Santander and Stand
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