Dumping bank stocks is “not justified”, says Credit Suisse boss Tidjane Thiam February 10, 2016 Credit Suisse chief executive Tidjane Thiam reassure investors that banking stocks are safe, claiming the current sell-off is "not justified" in the current climate. Global bank share prices have tumbled in recent weeks, with the likes of Deutsche Bank, Unicredit and Credit Suisse all suffering hugely. UK-listed banks such as Standard Chartered have also sustained a hit [...]
Breaking the banks: Why are shareholders bailing out? February 10, 2016 The share prices of Europe’s biggest banks are now being discussed in historical terms. Deutsche Bank’s share price has dipped beneath its financial crisis nadir and its convertible bonds have plummeted. Standard Chartered’s stock is at its cheapest in nearly 20 years, joined in the carnage by the other major UK banks – HSBC, Lloyds, Barclays [...]
No pressure, Janet: Spotlight falls on the Fed as US central bank chief Yellen faces questions from Congress February 10, 2016 The financial world’s attention will fall on Janet Yellen today as the Federal Reserve chief faces a grilling by Congress, in the middle of a week of chaos on global trading floors. Shares throughout the world tumbled for a third straight session yesterday, while European banks lost another four per cent of their value. Financial [...]
FTSE 100 index closes lower as miners and banks slide February 9, 2016 The FTSE 100 index extended its losses on Tuesday after having traded with some volatility over the course of the day. The UK's blue chip index fell 0.88 per cent to 5,632.19 points as banks and miners continued to tumble. “It’s becoming a ‘get yer hard hat on’ situation with bank stocks coming down left and right [...]
Bank shares were smashed again today as investors lost confidence in the face of long term low interest rates February 9, 2016 It’s been another day of carnage for European banks, as share prices continue to slide beyond lows recorded even at the height of the global financial crisis. The biggest loser in the UK was emerging market focused bank Standard Chartered, with shares finishing down by 5.5 per cent. Close behind was Barclays with shares ending down by [...]
City Moves for 5 February 2016 | Who’s switching jobs February 5, 2016 Robertson Baxter Independent financial advisory firm Robertson Baxter has added chartered financial planner Kate Davenport to its growing technical team. Kate brings the total number of financial professionals at Robertson Baxter to 12. As well as her chartered status, Kate has a degree in law and is currently training to become STEP (Society of State and Trust Practitioners) qualified. [...]
Deutsche Bank, Uni Credit, Standard Chartered share prices drop: European bank shares are tanking February 3, 2016 Shares in leading banks tumbled throughout Europe today, with Deutsche Bank and Standard Chartered falling by 6.02 per cent and 4.29 per cent respectively. A sea of red engulfed the sector as fears spread of slowing economic growth and credit losses from energy companies hobbled by low oil prices. Brenda Kelly, head analyst at London Capital [...]
CBI director-general Carolyn Fairbairn says UK businesses is still too geared to men, wants one in four senior executives to be women January 27, 2016 British businesses are still too "geared up" for men, Confederation of British Industry (CBI) director-general Carolyn Fairbairn will say this week, as she calls on firms to do more to promote women to senior leadership roles. In a speech tomorrow at City law firm Latham & Watkins, Fairbairn will say that companies need to look "beyond boards" and focus [...]
US crude and WTI: Credit Suisse slashes oil price forecasts by more than $10 January 26, 2016 Credit Suisse has become the latest big bank to slash its oil price forecasts, to the tune of around $10 per barrel for 2016 and 2017, on high inventories and slower demand growth. The Swiss-based bank cut its 2016 price forecast for Brent crude to $36.25 per barrel from $58.00, while lowering its 2017 outlook to [...]
Oil price fall set to drag down UK dividends January 25, 2016 The collapse in oil and commodity prices took its toll on UK dividends last year as companies began to feel the bite of the price slump, with the worse expected in 2016. While oil multinationals are expected to maintain payouts, smaller producers with weaker balance sheets have slashed their distributions, according to the latest dividend [...]