RBS shares +2.8% have bucked the trend of UK bank peers this week with a positive reaction to Q3 results. This after adjusted operating profits of £1.245b easily beat £1bn expectations thanks to much lower conduct charges and restructuring costs. It also managed an impressive 70bp improvement to the closely watched Core Tier 1 capital…
Shareholders in Barclays will be hoping that its shares can emulate those of UK peer Lloyds yesterday with a rebound and recovery. From being offside by as much as 3%, they managed to close higher by almost 1%. However, with less than an hour gone, it’s not looking great for BARC as the shares trade…
Lloyds Banking shares are on the back foot this morning after Q3 results, despite no new PPI provisions making for a rather refreshing change. Also being ignored is upgraded FY guidance. Investors are clearly more concerned with increased loan impairments (single large corporate + MBNA acquisition), worried about the potential for this to worsen into…
Macro observations Having remained an observer of foreign exchange movements for much of the fourth quarter so far, the Euro will claim back the headlines with some gusto this week as the Catalonian constitutional crisis comes to a head, while the European Central Bank is finally set to announce a major policy change. Both the…
20 Oct CityAM (Link) Mike van Dulken, head of research at Accendo Markets, said the major contract win offered hope after yesterday’s warning of deteriorating market conditions.He said: “Successful bargain hunters form yesterday will be rubbing their hands, hoping more such announcements are on their way to help the shares fill the latest gap down.” 19…
It’s a 50/50 split for UK 100 risers and fallers this week, the index itself flat. But this masks the fact that ten of the hundred are up/down by more than 5%, some by around 20%! For blue-chips it’s been a truly exciting week with plentiful news flow and the index holding within touching distance…