Standard Chartered share price down as group chief executive dubs 2015 performance “poor”, bank brings in annual loss of $1.5bn and underlying profits plummet 84 per cent February 23, 2016 Share price in Standard Chartered dropped this morning as the company revealed that it had made a loss overall for the year and that its underlying profits before tax had dropped sharply. The bank today announced underlying profits before tax of $0.8bn (£0.6bn) for its year ended December 2015, down 84 per cent from $5.2bn the year [...]
EU referendum: Asda, HSBC, Vodafone and nearly 200 sign letter saying Brexit would threaten jobs – but Tesco, Morrisons and Sainsbury’s are not on the list February 23, 2016 The bosses of HSBC, BT, Vodafone and Asda are among those to have put their name to an open letter backing the remain camp and Prime Minister David Cameron's reforms in Europe. More than a third of the UK's biggest companies were represented in the letter, which was published in The Times this morning, saying they represented [...]
At the close: FTSE 100 index closes higher as the oil price rises with banks’ and miners’ share prices including Anglo American and Glencore rising despite housebuilders and HSBC’s share price falling February 22, 2016 The FTSE 100 index closed higher today after the price of oil rose and there was a bounce-back in mining companies and banking shares. The UK's blue-chip index rose 1.47 per cent to 6,037 points, led higher by Glencore and Anglo American. "Rallying commodity prices from crude oil to copper have boosted the beaten up [...]
UK bank results: Standard Chartered and Royal Bank of Scotland (RBS) gearing up to post losses for full-year 2015 February 21, 2016 Two of Britain’s biggest banks are expected to post sharp losses this week when they report full-year results for 2015. Analysts say Standard Chartered will report significant losses amid steep restructuring costs, while Royal Bank of Scotland (RBS) pre-empted the full-year results last month when it announced a so-called clean-up plan that would hit annual [...]
Standard Chartered share price: Investec analysts downgrade bank stock after just two days following share price rally February 16, 2016 Investec has downgraded Standard Chartered to a “hold” rating just two days after upgrading the lender to a buy, after shares in the Asia-facing bank rallied by more than 17 per cent in just two working days. Standard Chartered has struggled since the start of the year, with shares tumbling by over 20 per cent. [...]
FTSE 100 index closes higher as price of oil rebounds and share prices at miners and banks including HSBC, RBS, Lloyds and Barclays rise and Rolls-Royce’s share price rockets February 12, 2016 Having taken a pounding on Thursday, the FTSE 100 index closed sharply higher today as the price of oil rebounded. The UK's blue chip index closed 3.08 per cent higher at 5,707 points, led higher by Rolls-Royce, banks and miners. The price of oil rose more than three per cent to nudge over $31 a barrel this morning, after an Opec minister [...]
JP Morgan Chase share price rises after chief executive Jamie Dimon buys 500,000 shares worth $26.5m February 11, 2016 JP Morgan chief executive Jamie Dimon has bought 500,000 shares in the bank, worth roughly $26.5m, City A.M. understands. The bank's shares rose 1.4 per cent in after-hours trading, after the purchase was first reported. JP Morgan was one of many global lenders whose shares were clobbered during turbulent trading today. The bank's shares ended [...]
FTSE 100 index closes lower as banks including HSBC, Lloyds, RBS and Barclays fall and miners’ woes continue February 11, 2016 The FTSE 100 index closed sharply lower on Thursday as the selloff in banking and mining shares continued. The UK's blue-chip index fell 2.39 per cent to 5,536 points, led lower by the financial sector with both banks and insurers set to struggle with low interest rates. "Banks have been hit hard and further steep weakness can not [...]
SocGen leads European banks lower at the close as rout resumes on Deutsche, Barclays, HSBC, Lloyds and RBS share prices and Credit Suisse hits 27 year lows February 11, 2016 Well that didn’t last long. Europe’s bank shares closed down this evening, led by French bank Société Générale after it announced earlier it may struggle to meet its profitability targets this year. The bank, whose share price slumped over 13 per cent in early trading but managed to scale back loses to end the day down just over 12 [...]
Bank shares bounce after heavy losses, investors cheer reports of Deutsche’s emergency bond buyback plan February 10, 2016 Bank stocks have managed to recover some of their lost ground today, following massive sell offs at the start of the week sending shock waves through global equity markets. Royal Bank of Scotland has made the biggest recovery, soaring by four per cent as investors back track on yesterday’s losses. RBS was down by over [...]