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Deutsche Bank downgrades HSBC to 'sell', prefers Barclays, RBS and Lloyds
Deutsche Bank’s top picks in order of preference are Barclays, RBS and Lloyds
Company
Barclays PLC
LON:BARC
Barclays is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services, with an extensive international presence in Europe, the USA, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs 147,000 people.
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Deutsche Bank cuts target price on Lloyds, Barclays and RBS after 'annus horribilis'
“Our house view does not factor a recession until late-2020 although there are a number of geopolitical risks that could derail this - including the US-China trade war, Brexit, and Italy," Deutsche Bank said
Investments and investor services
FTSE 100 closes in red but nudges higher on the week; housebuilders gain on day
The UK blue-chip benchmark closed down around 24 points at 6,918, while FTSE 250 added nearly 107 points on the day
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Barclays up as media reports say activist investor to push for shareholder vote on bank’s leadership
In a letter to shareholders, Edward Bramson said: “It seems increasingly likely that, for any progress to be made on our concerns, we will be required to seek a shareholder vote to make changes in the composition of the board”
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Lloyds, RBS and Barclays hung up on Brexit dilemma
If the markets are right, Britain’s big four banks are in for a rough ride in 2019
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Barclays fined US$15mln by US authorities over attempts to unmask whistleblower
The New York regulator said the bank had “shortcomings in governance, controls and corporate culture relating to Barclays’ whistleblowing function”.
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UK banks could raise dividends and buybacks, UBS suggests after stress test results
The Bank of England on Wednesday said all seven British banks and building societies passed could handle a 'disorderly Brexit'
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Lloyds, RBS, Barclays and other UK banks pass tough 2018 stress test ahead of Brexit
In the 2018 scenario, UK GDP falls by 4.7%, the UK unemployment rate rises to 9.5%, UK residential property prices fall by 33% and UK commercial real estate prices fall by 40%
FTSE 100 closes lower after another day of unease on Brexit and trade
The UK's premier blue-chip index closed down around 12 points at 7,004
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Morgan Stanley cuts price targets for RBS and Barclays, maintains stance on Lloyds
Morgan Stanley analysts expect the Bank of England to raise interest rates by 50bps in 2019 and another 75bps in 2020
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Black Friday purchases up on last year but customers spending less, says Barclaycard
Retailers are hoping customers spend enough over Black Friday, Cyber Monday and Christmas to boost sales after a difficult year
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Barclays and BP dividends boost total UK payouts in third quarter, investment report reveals
Barclays was the biggest contributor to dividends in the banking sector, while the quarter also saw the first declared increased from BP since 2014 in US dollar terms
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Lloyds, RBS and Barclays shares drop as Theresa May faces no confidence vote over Brexit deal
“Lower interest rate hike expectations, coupled with the fear that a no-deal Brexit could bring chaos to trade, are raising worries over the performance of UK banks going forward,” said IG market analyst Joshua Mahony
Virgin Money's new owner CYBG cans deal with former Barclays boss Antony Jenkins
CYBG canned the long-term deal with Jenkins's fintech start-up 10X Future Technologies following its £1.7bn takeover of Virgin Money in September
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Barclays' senior duo to meet with activist Bramson
Sheborne Investors, Bramson’s vehicle, has a 5.4% stake in Barclays
Marcus by Goldman Sachs signs up 100K UK customers since September launch
“We must be one of the fastest growing banks in the UK right now," according to Des McDaid, managing director of Marcus.
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Lloyds and Barclays among worst performers in EU stress test
All 48 lenders passed the European Banking Authority’s test that sought to identify any capital holes but Lloyds and Barclays were the unexpected laggards
FTSE 100 closes marginally higher as European indices lag; US mid-terms in focus
FTSE 100 closed marginally higher but mid-cap cousin FTSE 250 plunged nearly ten points.
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Barclays confirms appointment of Rothschild veteran Higgins as chairman
Nigel Higgins, who is deputy chairman of Rothschlid & Co., will take over as chairman when John McFarlane steps down after the bank’s annual meeting in May 2019
FTSE 100 can't hold onto gains and closes in red as Wall Street shares drag
The FTSE 250 fared much better though, adding almost 154 points on the day to close at 19,325
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HSBC, Lloyds, RBS and Barclays tighten lending standards ahead of Brexit
Consumers are relatively cautious in their borrowing while lenders have become warier about advancing unsecured credit, according to EY Item Club's Howard Archer
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RBS shares gain as Barclays and Deutsche Bank maintain 'buy' rating
“Focus is on how quickly RBS can return surplus capital; we now factor special dividends in addition to directed buybacks,” Barclays said
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Barclays not to face criminal charges over emergency fundraising after High Court denies SFOs application to reinstate
The SFO were pushing to reinstate the charges that alleged the bank conspired to commit fraud and the provision of unlawful financial assistance, connected to a deal with Qatar Holding and Challenger Universal in June and October 2008
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UK Budget, BoE, US jobs data to sandwich flood of corporate updates from likes of BP and Shell
Aside from the oil majors, the slew of blue-chip updates due in the coming week will include global banks HSBC and Standard Chartered, and drugs firms GlaxoSmithKlne and Shire
FTSE 100 closes off lows but shoulders drop as US stocks plunge with tech disappointments
At the close, the UK blue-chip index was down 64.54 points, or 0.9% at 6,939.56, albeit bouncing off the hefty session low of 6,851.59 having spent all day heavily in the red
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UBS upgrades CYBG but still prefers large-cap banks Lloyds, RBS and Barclays
UBS sees better risk / reward at Lloyds, Barclays and RBS
FTSE 100 closes at session peak after strong rebound in tandem with US stocks
At the close, the UK blue chip index was 41.12 points higher at 7,004.10, the session peak, and well above the early low of 6,995.99
Investments and investor services
Nasdaq routed by tech selloff as Dow and rest of Wall Street end sharply lower across the board
Brief boost to Dow from sterling Boeing results fade in late trade as stocks were pummeled across the board
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Barclays profits dragged lower by litigation and misconduct charges
The under-pressure investment bank delivered a 9% increase in pre-tax profit while income was broadly flat
Investments and investor services
FTSE 100 keeps nose above water to finish in positive territory
Footsie finished Wednesday nearly eight points higher at 6,962.
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SFO presses to have criminal charges reinstated against Barclays over financial crisis fundraising
Arguments for whether charges should be brought against Barclays will be heard in the High Court this week
Investments and investor services
Barclays treading water as activist investor pressure builds
The third quarter banking results season is upon us and Barclays is set to open the batting, more in the style of Keaton Jennings than Alastair Cook, according to many pundits
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Shares in FTSE 100 banks including Lloyds, RBS and Barclays remain under pressure
“RBS has been the best of a bad lot, with Standard Chartered, perhaps weighed down by concerns over its emerging markets, the worst of the FTSE 100’s Big Five, in share price terms,” said AJ Bell investment director Russ Mould
FTSE 100 finishes lower as trade worries rear their head again
The UK's premier index of leading shares closed down seven points, or 0.10% at 7,042
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Third-quarter updates from Barclays, Lloyds Banking Group, and RBS all due in coming week
Aside from the banking trio, updates are also due in the week ahead from the likes of WPP, Whitbread, International Airlines Group, Ryanair, Glencore and Antofagasta
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UBS prefers Barclays, Lloyds and RBS despite worries about Brexit uncertainty
UBS said Barclays is its top pick of European banks
CryptoCann™ Report: Barclays reportedly puts crypto plans on the back burner; Uber and Lyft offer discounts to discourage driving while high
The British banking giant’s head of digital assets departed in September
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Barclays takes on Goldman Sachs with plans to launch digital retail account in US
Banks are trying to compete with Goldman Sachs' retail bank Marcus in the US and the UK
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HSBC to pay US$765mln settlement over sale of toxic mortgage-backed securities
HSBC has become the latest major bank to settle over the mis-selling of residential mortgage-backed securities, following penalties paid by RBS and Barclays
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Lloyds and RBS back on their feet 10 years after government's bank rescue deal
Given the risks facing the economy, including Brexit and a trade war between the US and China, there is speculation about whether a global recession could happen again
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Barclays gains as Berenberg upgrades stock to 'buy', says investment bank 'successfully growing'
Berenberg said Barclays has the "strongest franchise of any non-US bank in the profitable US investment bank market and is gaining market share"
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Barclays admits to errors on thousands of PPI claims
Barclays said the errors occurred when bulk requests were made by claims management firms on behalf of individuals seeking PPI claims
Goldman Sachs' new UK online retail bank challenges Lloyds, RBS, Barclays and HSBC
Goldman’s online retail bank, named Marcus after the group’s founder, is offering an interest rate on savings of 1.5%
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Online banking woes continue as RBS, Natwest and Ulster Bank hit by glitch
The news follows a string of online banking problems for a number of lenders this year including Barclays and TSB
FTSE 100 ends in positive territory as Barnier now sees potential Brexit deal in weeks
The UK's index of leading shares added 1.6 points, or 0.02% , to finish at 7,279, while sterling was up 0.80% against the US dollar
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RBS to axe more branches, outpacing Lloyds, HSBC and Barclays with closures
RBS, Lloyds, Barclays and HSBC have been shutting branches as an increasing number of customers switch to online banking
Greatland Gold jumps on upbeat rock chip results from Black Hills licence in Australia
A look at some of the biggest risers and fallers on the London market this Tuesday
Whitbread faces pressure to prove merits of Premier Inn as standalone business
“Whitbread investors may miss the caffeine highs Costa serves up," Hargreaves Lansdown said of the group's decision to sell the coffee chain to Coca-Cola
Goldman Sachs to launch online retail bank in the UK in coming weeks
The bank will be open to the Wall Street giant’s UK employees before its official launch
Monzo said to be planning £20mln crowdfunding as it eyes unicorn status
Monzo is set to receive “unicorn” status alongside technology companies such as Deliveroo and Skyscanner valued at US$1bn or more
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Standard Chartered reveals delay to regulatory approval for post-Brexit EU hub
The delay comes amid sector-wide pressure from European regulators to submit more detailed plans for their post-Brexit hubs to prevent banks from creating token offices
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HSBC upgrades RBS to 'buy' and keeps Lloyds at 'hold' but Barclays still preferred
"RBS has been the worst performing UK domestic bank stock year-to-date," HSBC said
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Lloyds, RBS and HSBC among worst performers in customer survey, CMA reveals
RBS came joint last with Clydesdale Bank while Lloyds was ranked the same as TSB, which was hit by an IT crisis in April
Barclays initiates British American Tobacco with ‘overweight’ recommendation
Barclays believes BAT is well placed to exploit a new era of competitive disruption in the industry heralded by innovations such as e-cigarettes
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Activist Ed Bramson calls for Barclays chairman John McFarlane to step down
Bramson’s investment vehicle Sherborne, which owns a 5.4% stake in Barclays, has started talks with Barclays
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Brexit and global trade war put dividend hikes at risk for Lloyds, RBS, Barclays and HSBC
Lloyds and HSBC have come out on top in dividend payouts with a projected 2018 yield of 5.4% for the two lenders
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FTSE 100 closes higher as positive US jobs report boosts sentiment
Footsie closed the day up over 83 points at 7,659, but over the week as a whole it was down 0.54%
PPI: What’s all the fuss about?
The PPI scandal has been pervasive across advertising spaces for years, but what exactly caused the surge in claims on this previously little-known financial product?
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Barclays first half profits slide as litigation and conduct costs bite
Barclays hiked its interim dividend to 2.5p from 1.0p last year.
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FTSE 100 joins European stocks to close lower as trade worries weigh
FTSE 100 lost almost 77 points to close the day at 7,575, while FTSE 250 was also down, off over 252 points at 20,548
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Bank of England widely expected to hike rates but will the decision be unanimous?
A month ago, a rate hike of a quarter of a point seemed nailed on. Most economists still think it is the most likely outcome but the decision may not be unanimous given some recent iffy economic data
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Lloyds first-half profits rise 23% despite extra £460mln provision for PPI claims
Lloyds said growth in credit cards business MBNA offset ongoing pricing pressures in mortgages amid tough competition
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UK's top banks in the spotlight as Lloyds, Barclays and RBS report interims
Lloyds, Barclays and RBS report their interims this week
Daily CryptoCann™ Report: IBM launches blockchain platform for big banks; Aurora Cannabis receives license for Alberta facility
The tech giant teamed up with FX provider CLS to launch a blockchain app store for financial services
UBS ups Morrisons to ‘buy’ as discounter expansion slows
The bank said that discounters had been a “key source of Morrisons’ switching losses ... over recent years”, but added that Aldi store openings had slowed sharply in the first half of 2018
FTSE 100 closes slightly in red as traders sit on hands ahead of central bank updates
FTSE 100 closed down 0.46 points, or 0.01% at 7,700 on Monday
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Banks in the foreground as the BoE and Fed make rate decisions; Barclays, Lloyds, RBS all report results
Aside from the raft of banking numbers in the Week Ahead, the likes of BP, Centrica, Next, Rolls-Royce, BAE Systems and Taylor Wimpey will also continue the FTSE 100 reporting splurge
Archive
Barclays says UK SFO has made an application to the High Court to reinstate charges dismissed in May
Two of the charges are about Barclays PLC conspiring with former senior officers and employees of the company to commit fraud by false representations relating to advisory services agreements entered into with Qatar Holding LLC in 2008
Daily CryptoCann™ Report: Barclays files two crypto patents; VR headset brings to life a virtual dispensary
The legacy bank filed patents for methods of transferring digital currency and recording data in a ledger
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Lloyds loses UK mortgage market share but remains biggest lender, UK Finance reveals
RBS overtook Barclays to become the fourth largest lender of mortgages while HSBC also grew its market share
Computacenter downgraded by Barclays on valuation grounds following strong share performance
Analysts said the FTSE 250 computer services company had seen good share price growth following a strong first quarter but were cautious on flat growth in its services arm
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HSBC completes separation of retail bank to meet ring-fencing rules
HSBC finished setting up its ring-fenced bank six months ahead of the legal deadline
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Lloyds downgraded and Barclays upgraded in HSBC’s sweeping review of banks
Aside from the price target changes for Lloyds and Barclays, HSBC analysts reckon market sentiment has shifted from overly optimistic to overly pessimistic
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Virgin Money and CYBG merger could face IT meltdown like TSB, analysts warn
Analysts fear Virgin Money and CYBG could experience an IT crash like TSB in integrating its computer systems
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UBS repeats ‘buy’ on Lloyds Banking Group as it reflects on new ring-fencing rules from 2019
The Swiss bank's analysts noted that Lloyds and Barclays PLC are trading at a 13-17% discount to a sector trading at the highest implied cost of equity since mid-2016
FTSE 100 closes in the red; Carnival cruises to the bottom of the pile
The UK's index of leading shares finished down around 54 points at 7,686 on Tuesday.
FTSE 100 drops 1.26% as political turmoil in Europe hits
In the current markets, the pound fell 0.49% against the US dollar at 1.1472..
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Standard Chartered higher on report Barclays considering possible merger with rival lender
The Financial Times said Barclays' senior board members were exploring a deal with another bank and that chairman John McFarlane was keen on the idea of a possible combination with Standard Chartered
Investments and investor services
FTSE 100 closes firmly in red as resource stocks suffer
Global markets are in the red after Donald Trump said he was not happy with the progress of talks with China.
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Barclays says SFO charges regarding the bank's capital raising in 2008 dismissed by UK Crown Court
The SFO filed criminal charges in June 2017 against the lender and four of its former top executives for their handling of Middle Eastern investments that helped save the bank at the height of the financial crisis
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Barclays reportedly urged to slim down its investment banking arm by activist investor
According to Reuters, Bramson wants Barclays to get shot of the non-profitable parts of the investment banking business but others argue that the bank needs to maintain a full-service offering
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Lloyds to sell Irish residential mortgage portfolio to Barclays
Lloyds will make a pre-tax loss of £110mln on the sale of the portfolio, which will be recognised in its first half results
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Banks lead global dividend growth but Brexit plagues Lloyds, RBS and Barclays, says investor
“UK banks are not a focus for us because of UK consumer weakness and corporate spending concerns sparked by Brexit," said Martin Currie's Mark Whitehead
Morgan Stanley upgrades UK equities to ‘overweight’ despite Brexit uncertainty
Equities should benefit from higher commodity prices and rising corporate activity, Morgan Stanley said.
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Barclays boss Jes Staley fined £642,430 for trying to unmask whistleblower
Barclays will need to provide regulators with annual updates on its policies for handling whistleblowing.
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British challenger banks rise as CYBG’s £1.6bn bid for Virgin Money sparks talk of ‘inevitable consolidation’
Challenger banks have managed to take some customers away from the big players, but analysts reckon they might have to gang up if they’re to pose a more serious problem for Barclays, RBS and co
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Barclays plans further dividend hikes as it focuses on improving earnings
Barclays will determine an adjustment to the pay of chief executive Jes Staley once regulators complete a review into his conduct after trying to unmask a whistleblower
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RBS shares fall as analysts raise concerns about looming US misconduct fine
The bank's outlook continues to be overshadowed by the impending settlement with the US Department of Justice
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RBS first quarter results to be overshadowed by impending US mortgage mis-selling fine
Litigation and conduct costs have held back RBS from resuming dividend payments and returning to private ownership
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Barclays joins forces with PayPal amid threat from Amazon and Apple
The partnership between Barclays and PayPal comes amid concerns about competition in the global payments industry from the likes of Amazon and Apple
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Barclays posts loss after taking hit from PPI claims and settlement over US fraud case
Litigation and conduct charges included a £1.4bn settlement with the US justice department and £400mln for payment protection insurance claims
Investments and investor services
FTSE 100 closes above 7,420 but gains capped by fall in Shell, US trade deficit in goods drops
Imports in the period fell 2.1%, while exports increased 2.4%
Shire takeover talk will overshadow results after Takeda upped the ante
Takeda on Wednesday increased its offer for Shire up to £46bn or £49 per share.
Investments and investor services
FTSE 100 closes higher, buoyed by hopes for City post-Brexit
FTSE 100 closed around 30 points higher at 7,398 on Minday
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Lloyds, Barclays, RBS, GSK and Shire kick off earnings season for banks and pharmas
The week ahead in includes updates from Lloyds, Barclays, RBS, Shire, GSK, Whitbread, Persimmon and Shell
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Barclays CEO Jes Staley to be fined by UK regulators for whistleblowing incident
The UK regulators will not take enforcement action against Barclays but will monitor the bank's whistleblowing programmes
FTSE 100 puts in late spurt to close comfortably higher
Shire shares propped up the rest of the Footsie leader-board despite Takeda unveiling an improved offer for the drugs maker
Barclays cuts Boohoo.com target price as it questions margin sustainability
The British bank said the clothing retailer had been a big under-performer since September 2017, with debate now shifting to questions about its midterm margin sustainability
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Moody’s downgrades Barclays' credit rating to just above ‘junk’
The agency said the FTSE 100-listed bank’s £1bn effort to ring-fence its UK retail arm had made it a riskier investment overall
Barclays trims target price for Associated British Foods but remains confident in Primark growth prospects
The bank said it expects Primark's scope for growth to be "considerably greater" than its rival company Inditex