MARKET TALK: UBS Cuts Standard Chartered To Neutral From Buy
23rd Jul 2010 07:53
0653 GMT [Dow Jones] UBS downgrades Standard Chartered (STAN.LN) to neutral from buy. Says at 11.5x 12-month forward earnings, Standard Chartered is still at a 15% discount to historical averages, but its price/tangible net-asset-value of 2.7x is now modestly above. "On balance, we see the shares up
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
23rd Jul 2010 07:53
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0653 GMT [Dow Jones] UBS downgrades Standard Chartered (STAN.LN) to neutral from buy. Says at 11.5x 12-month forward earnings
Read more4thUPDATE:Dubai World $23.5B Debt Talks End, No Deal In View
22nd Jul 2010 15:32
(Adds comments.) By Oliver Klaus, Summer Said and Tahani Karrar-Lewsley Of ZAWYA DOW JONES DUBAI (Zawya Dow Jones)--A long awaited meeting between Dubai World and its creditors ended Thursday with little hope of an immediate agreement to restructure $23.5 billion of the conglomerate's
Read moreTCL Multimedia Technology Signs Term Loan Pact; Up To US$120 Mln
21st Jul 2010 11:47
HONG KONG (Dow Jones)--Chinese television maker TCL Multimedia Technology Holdings Ltd. (1070.HK) said Wednesday it signed an agreement with BOC Hong Kong (Holdings) Ltd. (2388.HK) and Standard Chartered PLC (STAN.LN) for a term loan of up to US$120 million. The Shenzhen-based company said in a
Read moreUS Banks Pay Bulk Of GBP2.5B UK Bonus Tax, Hitting Earnings
20th Jul 2010 18:20
By Margot Patrick Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.S. banks have paid the bulk of the U.K.'s GBP2.5 billion ($3.8 billion) bonus tax that was designed to curb excessive pay, hitting their second-quarter earnings while creating a windfall for the U.K.'s new government. Accordi
Read moreIDBI Bank Plans To Meet USD Bond Investors In July 26 Week - Sources
20th Jul 2010 12:41
MUMBAI (Dow Jones)--India's IDBI Bank (500116.BY) plans to meet potential investors in its U.S. dollar denominated bond program next week, three bankers involved in the matter said Tuesday, amid speculation that the bank may soon launch an issue. IDBI will hold a series of meetings with investor
Read more2nd UPDATE: Temasek's First Sterling Bond Climbs In Initial Trade
20th Jul 2010 10:52
(Adds initial trading) By P.R. Venkat and Sam Holmes Of DOW JONES NEWSWIRES SINGAPORE (Dow Jones)--Singapore state investment company Temasek Holdings Pte. Ltd.'s first pound-denominated bonds rose in initial trading, carrying over from a strong launch as U.K. investors grabbed a rare st
Read moreUPDATE: Temasek Sterling Bond 3 Times Subscribed; UK Demand
20th Jul 2010 07:31
(Combines previous stories, adds detail, recasts.) By P.R. Venkat and Sam Holmes Of DOW JONES NEWSWIRES SINGAPORE (Dow Jones)--Singapore state investment company Temasek Holdings Pte. Ltd.'s first pound-denominated bonds were snapped up by U.K. and other European investors eager to get t
Read moreUPDATE:Ivanhoe Sets Core Lending Group For Oyu Tolgoi Project
19th Jul 2010 16:12
(Adds details.) By Alex MacDonald Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Ivanhoe Mines Ltd. (IVN.T) Monday said it has appointed three additional financial institutions to help fund its Oyu Tolgoi project, one of the world's largest undeveloped copper and gold deposits. Canada-he
Read moreFTSE 100 movers: International Power tops risers
19th Jul 2010 14:57
Footsie has made a strong start to the week helped by financials and miners. Standard Chartered and RBS are strong as are a number of miners including Xstrata and Rio Tinto. International Power is the best performer after French energy giant GDF Suez revived talks with the international electric
Read moreIvanhoe Mines Sets Core Lending Group For Oyu Tolgoi Project
19th Jul 2010 14:25
By Alex MacDonald Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Ivanhoe Mines Ltd (IVN.T) Monday said it has appointed three additional financial institutions to help arrange financing for its Oyu Tolgoi project, one of the world's largest undeveloped copper and gold deposits. Canada-headq
Read moreUPDATE: China, HK Sign Pact To Expand Yuan Business In HK
19th Jul 2010 13:07
(Adds HKMA warning on risk management following revised rules, comment on yuan interbank market in HK; Standard Chartered's plan to offer yuan-denominated structured investment products in HK.) By Chester Yung and Aries Poon Of DOW JONES NEWSWIRES HONG KONG (Dow Jones)--China and Hong Ko
Read moreBP Nears Possible All-Cash, $11B Asset Deal With Apache-Bloomberg
15th Jul 2010 18:24
DOW JONES NEWSWIRES BP PLC (BP, BP.LN) is moving toward a deal with oil and gas explorer-producer Apache Corp. (APA) to sell assets priced between $10 billion and $11 billion, possibly all in cash, with an agreement to come as soon as next week, Bloomberg News reports Thursday, citing two peopl
Read moreFinancial News: Tax Shadow Of EUR90B Hangs Over Europe's Banks
13th Jul 2010 15:09
By Liam Vaughan Of FINANCIAL NEWS European banks could be forced to take billions of pounds in writedowns over the next five years because of overly-optimistic calculations on future profitability contained within their accounts. According to research from KPMG published Tuesday, the 15
Read moreLondon close: BP rally lifts Footsie
12th Jul 2010 16:38
BP was in the driving seat, helping Footsie to good gains as the oil giant's shares rallied on the back of bid talk and hopes that the beginning of the end of the Gulf of Mexico oil leak is in sight. BP said the cost of the clean-up in the Gulf of Mexico has risen to $3.5bn from $3.12bn a week ago
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