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Well-received first-quarter updates from the likes of Barclays and Standard Chartered gave UK banking stocks a boost on Thursday. Barclays led London's blue chips higher in afternoon trade, up 8.6%, after it pleased the City with plans to slash 14,000 jobs in 2014 across the group as it aimed to be
Read moreInvestec has applauded Barclays' Group Strategy Update on Thursday, after the bank announced a new round of jobs cuts, mainly in its investment bank (IB), as part of its 'bold simplification'. "Barclays is already a low-risk, profitable bank, but today's 'reset' is about rightsizing the bank to ref
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* Banks have set aside 3.75 billion pounds * Only 798 million pounds paid out so far * Compensation scheme due to complete next month * RBS 'marginally behind' schedule (Adds data, comment from hedging advisor) By Matt Scuffham LONDON, May 8 (Reuters) - Britain's b
Read moreUBS has lowered its target price for HSBC from 665p to 630p and kept a 'neutral' rating following the bank's first-quarter results, saying that it is still waiting on revenue momentum to resume. HSBC's pre-tax profit fell 20% year-on-year to $6.8bn, slightly below UBS' forecast for $6.9bn, though t
Read more(Adds details) * 798 million pounds paid out so far * Banks had set aside 3.75 billion pounds By Matt Scuffham LONDON, May 8 (Reuters) - Britain's biggest banks have so far paid out only a fifth of the funds they set aside to compensate small businesses mis-sold interest-r
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LONDON (Alliance News) - The following UK shares received analyst recommendations Thursday morning:
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FTSE 100
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UBS CUTS HSBC PRICE TARGET TO 630 (665) PENCE - 'NEUTRAL'
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LBBW CUTS HSBC PRICE TARGET TO 650 (690) PENCE
Anglo American: Deutsche Bank ups target price from 1510p to 1550p and retains a hold recommendation. Balfour Beatty: Berenberg reduces target price from 350p to 290p and keeps a buy recommendation. BBA Aviation: JP Morgan cuts target price from 386p to 369p retaining an overweight rating. Bodyco
Read moreHSBC said it was on alert for the Bank of England to intervene in the housing sector amid growing concern that a collapse in the booming London market could threaten Britain's economic recovery. The bank's finance director, Iain Mackay, said: "What we are all are all waiting for or perhaps wondering
Read moreLONDON (Alliance News) - Standard Chartered PLC Thursday reported a fall in operating profit for the first quarter, amid a challenging external environment. Group income dropped during the period, hurt by local currency weakness. Peter Sands, Group Chief Executive, said, "Despite a somewhat
Read moreLONDON (Alliance News) - Standard Chartered PLC Thursday reported a fall in operating profit for the first quarter, amid a challenging external environment. Group income dropped during the period, hurt by local currency weakness. Peter Sands, Group Chief Executive, said, "Despite a somewhat
Read moreLONDON (Alliance News) - UK stocks closed lower Wednesday, with the FTSE 100 ending down for a second consecutive day as investors digested some disappointing macro economic data from Asia and a batch of mixed earnings from individual UK stocks.
The FTSE 100 ended every day of last
LONDON (Alliance News) - HSBC Holdings PLC Wednesday reported a 20% drop in first-quarter pretax profit, driven by a weak performance in Asia, Latin America and in its investment bank that was only partially offset by lower impairment charges and continued cost cutting. In a statement, HSBC
Read moreHSBC shares will continue to underperform the wider banking sector following the company's 'mixed' first-quarter results, according to wealth manager Brewin Dolphin. Overall, we would argue that this is a mixed set of results: costs, impairments and capital were all either better or in line with ex
Read moreLONDON (Alliance News) - HSBC Holdings Wednesday reported a 20% drop in first-quarter pretax profit, driven by a weak performance Asia, Latin America and its investment bank, that was only partially offset by lower impairment charges and continued cost cutting.
In a
HSBC shares will continue to underperform the wider banking sector following the company's 'mixed' first-quarter results, according to wealth manager Brewin Dolphin. The bank reported a pre-tax profit of $6.79bn in the first quarter, down 20% year-on-year but above the company-compiled consensus es
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