Proactiveinvestors United Kingdom - Banks RSS feed Proactiveinvestors United Kingdom - Banks feed en Fri, 19 Jan 2018 09:40:23 +0000 Genera CMS Santander UK boss 'responsible' for RBS mistreatment of small firms Fri, 19 Jan 2018 08:54:00 +0000 HSBC to pay US$101.1mln to settle US probe into currency rigging Fri, 19 Jan 2018 07:27:00 +0000 Deutsche Bank and Citi warn of margin pressures facing UK challenger banks Wed, 10 Jan 2018 12:02:00 +0000 Bank swaps: Morgan Stanley upgrades RBS, downgrades both Lloyds and Barclays Wed, 10 Jan 2018 11:24:00 +0000 RBS has reportedly agreed the sale of Lombard Finance's offshore leasing business for £150mln Wed, 03 Jan 2018 12:30:00 +0000 Lloyds, BP, Shell offer yield hunters plenty of food for thought Thu, 28 Dec 2017 12:00:00 +0000 Lloyds, Royal Bank of Scotland … Is it time to buy the banks? Thu, 28 Dec 2017 08:00:00 +0000 Investec could lose up to 3.0% of post-tax operating profit due to exposures to Steinhoff share price collapse Mon, 11 Dec 2017 10:40:00 +0000 Lloyds, RBS, Barclays and HSBC gain as analysts see new Basel III rules as positive Fri, 08 Dec 2017 12:55:00 +0000 Lloyds sells London HQ to a Chinese property investment company for an undisclosed price Thu, 07 Dec 2017 10:47:00 +0000 Credit Suisse reckons Virgin Money could now be an “attractive” takeover target Thu, 07 Dec 2017 10:26:00 +0000 Lloyds capital requirements may impact potential for dividend growth, says Goldman Sachs Tue, 05 Dec 2017 13:11:00 +0000 JPMorgan ups stance on Standard Chartered, includes among European bank top picks for 2018 Tue, 05 Dec 2017 10:08:00 +0000 Royal Bank of Scotland blames online and mobile as it axes a further 259 branches Fri, 01 Dec 2017 15:00:00 +0000 Barclays strengthens capital position with further cut to stake in Africa division Fri, 01 Dec 2017 07:49:00 +0000 FRC says should have been faster to investigate why KPMG OK'd HBOS's accounts ahead of rescue by Lloyds Thu, 30 Nov 2017 14:24:00 +0000 Lloyds able to maintain dividends but may need to lift capital target after stress tests, say analysts Wed, 29 Nov 2017 15:00:00 +0000 Lloyds to close a further 49 branches as more customers turn to online banking Wed, 29 Nov 2017 14:03:00 +0000 Lloyds, RBS, Barclays and HSBC can handle Brexit risks, Bank of England's stress test reveal Tue, 28 Nov 2017 14:47:00 +0000 RBS won't fail this year's UK stress tests, RBC expects Tue, 28 Nov 2017 06:00:00 +0000 BoE’s UK bank stress tests 'most important' for Lloyds and Barclays Mon, 27 Nov 2017 10:33:00 +0000 Lloyds and HSBC to come out on top but RBS to flop in BOE stress tests, says JP Morgan Fri, 17 Nov 2017 14:35:00 +0000 Royal Bank of Scotland facing US$11bn mortgage fine says HSBC Fri, 17 Nov 2017 09:22:00 +0000 Virgin Money slumps as it warns on UK mortgage market pressures and shrinking margins Thu, 16 Nov 2017 11:19:00 +0000 HSBC pays €300mln to French authorities to settle tax probe into Swiss bank Tue, 14 Nov 2017 15:37:00 +0000 Lloyds and NS&I give Brexit-hit savers a boost after Bank of England lifts interest rates Thu, 09 Nov 2017 14:24:00 +0000 Barclays shares drop as Deutsche Bank and UBS cut target price after third quarter disappoints Mon, 06 Nov 2017 14:48:00 +0000 Aldermore shares jump as it agrees £1.1bn takeover by FirstRand Mon, 06 Nov 2017 10:36:00 +0000 After a strong post-Brexit recovery, are Lloyds, RBS, Barclays and co set to run out of steam? HSBC thinks so Mon, 06 Nov 2017 06:20:00 +0000 Standard Chartered sees post-results rally as some brokers provide support Thu, 02 Nov 2017 11:12:00 +0000 Trump to be impeached?- Tip TV “There was always a 50/50 probability of Trump being impeached before the end of the first time, but the situation is that there is 50/50 probability that Trump may be impeached before the year end”, says Mike Ingram, Strategist at BGC Partners.

Also discussed is the UK employment released today. Ingram believes the Phillips Curve (inverse relationship between unemployment and the rate of inflation) is dead.

Plus Lloyds Bank.

Wed, 17 May 2017 12:31:00 +0100
UK banks: Turnaround continues - Tip TV Market Analyst Matt Brown and Presenter Zak Mir discuss the turnaround in the UK banks. Lloyds Bank and Barclays both doubled underlying profits. The panel wonders whether turnaround in the fortunes is good for customers.

Fri, 28 Apr 2017 13:09:00 +0100
Lloyds 'delivered on all fronts' - ETX Capital's Neil Wilson Neil Wilson, senior market analyst at ETX Capital, gives his view on performance at Lloyds Banking Group PLC (LON:LLOY) for the first three months of 2017.

Shares jumped over 3% higher after first-quarter profits beat market expectations, with the lender also saying it is on track to hit full-year guidance despite any worries over Brexit and further conduct issues.

Thu, 27 Apr 2017 13:28:00 +0100
Financials have had a "fantastic" first quarter, says Brooks Kathleen Brooks, research director at City Index, tells Proactive Investors financials have a strong first quarter in the US and the UK.

Her remarks come ahead of Lloyds Banking Group (LON:LLOY), Barclays (LON:BARC), Royal Bank of Scotland (LON:RBS) and HSBC (LON:HSBA) publishing their quarterly results in coming weeks.

Sun, 16 Apr 2017 07:45:00 +0100
Barclays response to whistleblowing claims 'completely inadequate', says BGC Partners' Mike Ingram Market commentator at BGC Partners, Mike Ingram, tells Proactive reports that Barclays plc (LON:BARC) chief executive Jes Staley is being investigated by UK regulators for attempting to unmask a whistleblower who raised concerns about the conduct of an employee at the bank are 'extremely serious'.

''Why he would be quite so keen to find out the identity of this whistleblower, quite frankly, is beyond me'', Ingram says.

''Whichever way you look at it, it does not look good for Mr Staley''.

Mon, 10 Apr 2017 13:15:00 +0100
How much worse could it possibly get at RBS? - Tip TV Tip TV’s Zak Mir and Matt Brown take a look at the situation at the RBS. The troubled lender posted a ninth straight yearly loss today.


Also discussed in this segment:


Bullish short-term, medium-term view of the US markets by Investors Intelligence

Oanda FX market sentiment

Potential for a rebound from the trend line support in the S&P 500 energy index

The trade of the day - Sell Victrex

Broker Recommendations

Fri, 24 Feb 2017 10:35:00 +0000
RBS results 'a sea of red ink', says BGC Partners' Mike Ingram Mike Ingram, market analyst at BGC Partners talks to Proactive about Royal Bank of Scotland Group plc's (LON:RBS) latest results.

The Scottish lender posted an attributed loss of £6.95bn for the year to 31 December 2016, compared to a loss of £1.97bn in the year-ago period, marking its ninth consecutive loss. Analysts had been expecting a £6.1bn loss.

Fri, 24 Feb 2017 10:05:00 +0000
A robust performance from Lloyds, reckons Hunter Richard Hunter, head of research at Wilson King Investments, looks at Lloyds annual results today, in which it reported its highest annual  pre-tax profit in a decade.
"Under the careful stewardship of Horta-Osorio, Lloyds is now looking like a  fairly stable bank," suggested Hunter.

Wed, 22 Feb 2017 09:57:00 +0000
Lloyds shares can top 2016 highs in coming weeks Technical analyst Zak Mir tells Proactive Investors that the Lloyds Banking Group (LON:LLOY) share price can top last year’s highs over the next month or so.

“Since Trump was elected, generally there’s a much more bullish sentiment towards banks. The hope is that he’ll ensure that there’s less red tape and regulation

“The overall pattern here is of a triangle breakout towards 64p. While we stay above that, we could see a further move towards 70p or 75p, which would be the best the shares have managed in the past year.”

Sat, 14 Jan 2017 09:01:00 +0000
Shore Capital's Mensah: Next needs to address intrinsic and industry-wide issues George Mensah, analyst at Shore Capital (LON:SGR), discusses the share price drop of Next (LON:NXT) with Proactive Investor after the clothing retailer cut its 2016 profit forecast and warned of tough conditions ahead in its 4Q trading update.

"This performance is mainly attributable to the company itself, however, there are other issues looking forward that will affect the wider industry," he says, while pointing out that Black Friday "skewed the retail calendar" and that inflation will start having an impact on disposable incomes this year.

Shore Capital has a 'sell' rating on the stock. "We believe that the company hasn't sufficiently addressed the concerns we have about the business with regards to arresting the decline in trading," Mensah says.

Mensah actually expect Christmas sales to be strong for the retail sector overall, but looking ahead sees challenges linked to inflation and uncertainty over Brexit which he argues will impact employment, earnings' growth, business investment and feed through the retail market.

Wed, 04 Jan 2017 15:41:00 +0000
Any weakness in HSBC shares would make it a “technical buy”, says analyst Any weakness in the share price of banking giant HSBC (LON:HSBA) should be seen as a buying opportunity, according to the King of Charts Zak Mir.

As part of the latest episode of the TIP TV Proactive Investors Bulletin Board series, Mir also tells investors that the stock is on track to continue its post-Brexit rally and add another 40p or so to its share price before Christmas.

“It’s been in strong recovery mode since July,” the technical analyst explains.

“We had a break through the 200-day then at around £4.70 and the shares have been in a rising trend channel ever since then, remaining totally above the 50-day moving average at 607p.

“The target here over the next month or so is as high as 680p which is the top of the 2016 channel. Any dips towards the 20-day moving average of 622p are regarded as a technical buy opportunity.”

Tue, 22 Nov 2016 09:40:00 +0000
'Is potential $12 bln fine for RBS enough?' asks BCG Partners' Mike Ingram The Royal Bank of Scotland (LON:RBS) could reportedly face a penalty of more than $12 bln over its mis-selling scandal in the US . The bank, which is more than 70% owned by the British taxpayer, hasn’t set aside any money for a settlement with the US Department of Justice over its sale of residential mortgage-backed securities before the 2008 banking crisis.

Market Strategist at BCG Partners, Mike Ingram tells Proactive: ''The question I'm asking myself is will it just be $12 bln. As a benchmarking exercise consider what we know for instance about the Deutsche Bank debacle ... supposedly a $14 bln fine has been suggested by the DoJ.''

''Deutsche's total RMBS exposure to my understanding is something like $18.6 bln  ... RBS' exposure is potentially north of $32 bln, which of course raises the question is $12 bln enough''.

Ingram adds: ''It's not the only legal battle and possible fine RBS is facing going forward. They are somewhat behind the curve in reaching financial settlements and there are potentially huge contingent liabilities against their capital base, against their balance sheet.''

Thu, 17 Nov 2016 14:36:00 +0000
RBS "a long way off from being an attractive investment" RBS remains 73%-owned by the British tax-payer so many of us will be distressed to learn it lost £469mln in the third quarter, and it has not made an annual profit since 2007.

The company is still paying for the legacy issues dating all the way back to the financial crisis of the last decade, Helal Miah of The Share Centre, tells Proactive Investors, but there could be a sliver of light at the end of the tunnel.

“I think the latest set of quarterly numbers, when you look at the operating line, it is actually quite encouraging,” the research analyst said.

“It made an operating profit in the third quarter of £1.3bn, and that’s the best since round about 2014, and if you take the last seven quarters, an average of a billion each quarter in operating profit,” Miah noted.

“The other thing is, the company has been restructuring, costs have been coming down, and they’ve made cost reductions to the amount of £695mln this time around, and they’re on target, they say, for £800mln for the full year,” Miah pointed out.

The low net interest margins are going to hurt them, but that’s a problem for the whole sector, Miah said.

The bad news is that Miah does not seem any end to skeletons rattling around in the closet, with the big one likely to be the mortgage mis-selling scandal in the US.

“It’s still a long way off from being an attractive investment. We’re not going to get a dividend payment – not for a while, anyway- and the government still owns a substantial proportion of the business. We’ve got this mortgage mis-selling issue, ongoing issues of further litigation charges and fines, and we’ve got this Williams & Glyn issue that hasn’t been sold off, or they haven’t managed to ring-fence it off,” he warned.

Fri, 28 Oct 2016 15:24:00 +0100
Barclays tipped to hit 230p per share in coming weeks Barclays Plc (LON:BARC) shares can rise to 230p, says technical analyst Zak Mir, who highlights a number of strong buy signals in the bank’s chart.

For some traders there’s likely hesitancy over trading banking shares, but Mir says look at the chart and ask yourself: “what if you didn’t know anything about the company, what would you do here?”

Mir, in a Tip TV segment for Proactive Investors, says Barclay’s has shown an uptrend and its rise is accelerating. And he reckons the price can go to 230p in the next month or two.

Fri, 28 Oct 2016 12:14:00 +0100
Tip TV’s Zak Mir examines the squeeze higher for Royal Bank of Scotland shares Tip TV’s Zak Mir highlights the ‘squeeze higher’ in Royal Bank of Scotland Plc (LON:RBS) shares ahead of today’s results from the bank that is still being propped up by the Government.

He notes that the RBS loss, revealed this morning, was bigger than the market expected.

“The actual core business is probably what analysts are looking at here. The highstreet, normal straightforward activities are doing well, and that is offsetting the pain and misery.”

Fri, 28 Oct 2016 12:12:00 +0100
Lloyds shares are making a run higher, chartist sees a rise to 61p Lloyds Banking Group Plc (LON:LON) shares are making a run higher, according to chartist Zak Mir, who reckons the price will soon rise to 61p.

Mir, in a Tip TV segment for Proactive Investors, notes that the bank’s shares have squeezed higher and have hit a number of significant technical markers along the way.

In fact, he says this is a particularly key moment for the Lloyds chart. He added: “[the shares are] at the break of the 50-day moving average at 56p, it does look as though there’s a little bit of a run to the upside.”

Fri, 28 Oct 2016 12:03:00 +0100
Lloyds Banking Group: If life’s tough now it will get tougher post-Brexit, says analyst Richard Hunter, head of research at Wilson King Investment Management, sees Lloyds Banking Group (LON:LLOY) as a “proxy for post-Brexit Britain” – and he’s pretty pessimistic on the outlook for the lender.

“There has been a limited impact on actual numbers [of Brexit],” Hunter said in the wake of third-quarter results.

“The impact has been more on sentiment for Lloyds, but we may well see the going get tougher.”

Earlier Lloyds said it set aside another billion quid to cover potential pay-outs relating to the payment protection (PPI) insurance mis-selling scandal.

The PPI provision reduced reported profit before tax to £811mln in the third quarter from £958mln in the same period of last year.

Underlying profit, which excludes the PPI provision and other one-off items, eased to £1.91bn from £1.97bn the year before.

Net interest income held steady at £2.85bn versus £2.86bn the previous year.

“It is the hardest hit of the UK banks [by PPI]. One would hope they are absolutely correct that this will represent the final provision.”

Wed, 26 Oct 2016 15:02:00 +0100
HSBC rally expected to continue, Zak Mir says it is a beautiful chart Describing the upward trending chart, Mir say it has been a “beautiful progression” for HSBC Holdings Plc’s (LON:HSBA) share price.

“This is a heavyweight in the FTSE, a 120bn market cap, and there’s every reason to believe this is going to keep on trucking towards 650p.

Mon, 17 Oct 2016 10:29:00 +0100
Government urged to rethink Lloyds Banking Group sale Chancellor Phillip Hammond has said the British government will sell its remaining shares in Lloyds bank to City institutions rather than put them on sale to individual investors in a retail sale.

TD Direct Investing’s chief investing officer Michelle McGrade tells Proactive: ''There's a huge interest from the man in the street wanting to own Lloyds because we're finding that it's the most traded stock and that's been the case for some time.''

On the subject of whether people should be putting their cash into banks given how opaque their accounts are she says, ''a lot of accounts are opaque and so when people are investing they're really relying on the experts to make sure that the accounts are reliable and the headline figures they produce are a true and fair account of what's going on. Most people really wouldn't understand even the most simple accounts because they've got other day jobs''.

Fri, 14 Oct 2016 14:11:00 +0100
Barclays is for the banking fanboys, there's better growth elsewhere Zak Mir says Barclays Plc (LON:BARC) is only really a buy for banking fanboys, according to Zak Mir, who reckons there are better growth prospects elsewhere.

Nonetheless, the technical analyst says for those that do look at Barclay’s the glass can be seen as half full – and if you do give it the benefit of the doubt, look for a rally up to between 180p and 190p.

Fri, 14 Oct 2016 11:43:00 +0100
Lloyds enjoys an "oasis of safety" in banking sector gripped by Deutsche fears King of Charts Zak Mir says Lloyds Banking Group Plc (LON:LLOY) investors enjoy an “oasis of safety” in a banking sector gripped by Deutsche Bank inspired fear.

Looking at the Lloyds chart the technical analyst says: “we’ve really been trading sideways.”

“Interest I think comes in towards the 50p level, it is a key psychological area. I wouldn’t say I was looking for great upside here, but maybe towards the 65p area.”

Mir acknowledges the Lloyd’s chart was a bit of a mess, but, he reckons if the bank’s price was going to fall it probably would’ve dropped below 50p already.

“We’ve got higher lows there for September versus August, so give it the benefit of the doubt at the moment.”

Wed, 05 Oct 2016 09:45:00 +0100
BREXIT risk makes gold “definitely the place to be” - Commerzbank's Briesseman Gold soared above US$1,300 this week to its highest for almost two years after the latest meeting of the US Federal Reserve and as the impending BREXIT vote looms.

The gold price slipped back in the following days, but Daniel Briesemann, analyst at Commerzbank, tells Proactive Investors “risks are still prevailing” adding that “we will see a further move upwards next week”.

“Over the last few weeks, the risk coupled with the BREXIT referendum has come into play and that’s the main issue at the moment” he adds.

“In a world where risks are dominant, if you are looking for a safe haven and do not want to invest in risky assets then gold is definitely the place to be”.

Fri, 17 Jun 2016 15:08:00 +0100
Investec's Mallard expects UK government to act soon to curb sugar addiction Investec's Nicola Mallard tells Proactive Investors the UK government's delayed obesity strategy that should be out later this year will likely introduce "some form of change" - whether regulation or tax - to reduce the volume of sugar we consume.
She says the implementation of a "sin tax" in some countries like Mexico has shown positive results and that the UK government would consider it to act on the demand side.
On the supply side, the food and drinks industry i already and can do more to reduce the sugar contempt of its products, she points out.

Fri, 19 Feb 2016 13:10:00 +0000
Investec’s Wrathall on China and commodity price outlook Jeremy Wrathall, mining and commodity analyst at Investec, offers his view on the current commodity environment and how China's economy is impacting the sector.

Thu, 03 Sep 2015 09:05:00 +0100
Deutsche Bank’s Sporre on copper price slump Grant Sporre, Deutsche Bank’s global metal analyst, explains the reasons behind the copper price fall and the future for the metal, as well as the ramifications for both small and large cap copper miners.

Fri, 16 Jan 2015 13:54:00 +0000
Secure Trust Bank CEO hopes to challenge ‘too big to fail’ rivals Paul Lynam, the chief executive of Secure Trust Bank (LON:STB), says the ultimate goal is to upset the status quo and establish the AIM-listed bank as a genuine rival to the main high street lenders.

He says that if the government wants the ‘too big to fail’ concept to disappear, challenger banks such as Secure Trust will have an increasingly important role to play. 

Lynam says there are always plenty of acquisition opportunities available to the company, but warns that most are “dressed up as race horses but when you strip back the clothing they’re actually donkeys”.

Tue, 12 Aug 2014 15:57:00 +0100
VSA Capital: Natural resources round-up Paul Renken from VSA Capital gives Proactive Investors his analysis of the natural resources sector. He comments on the impact of the South African miners' strike and argues that the recent strong showing in gold prices is not sustainable.

Renken also gives us his view on Gem Diamonds, Petra Diamonds and Richland Resources.

Fri, 13 Jun 2014 14:46:00 +0100
VSA Capital's Graham-Wood says oil and gas market "feels a little more confident" Malcolm Graham-Wood, Senior Adviser at VSA Capital, said the market "feels a little more confident" as he gave his view from the floor of the recent Oil Council World Assembly in London. "Certainly, some of the companies are feeling a little more upbeat than they were this time last year," he told Proactiveinvestors.

Mon, 25 Nov 2013 13:42:00 +0000
Malcolm Graham-Wood considers Genel, IGas, Europa and San Leon Malcolm Graham-Wood, from VSA Capital, says that among the companies at the Proactive Investors One2One event on 13th November most of the big news stories from the oil sector will be covered: Kurdistan, Ireland, Morocco and fracking. 

Among the stocks presenting, Malcolm says Genel (LON:GENL) remains a good opportunity and COULD be worth up to £21.50 a share. He also talks about significant upside at Europa (LON:EOG) 'if Ireland works' for the company. IGas (LON:IGAS) is another that he says is 'seriously undervalued', but at present there remains an enormous amount of confusion and mis-understanding about the unconventional space here in the UK. Finally, San Leon Energy (LON:SLE), Malcolm says that, while the company its working hard on its asset in Poland, the recent Turkish acquisition will be producing very soon, adding to the strong balance sheet.

Tue, 12 Nov 2013 09:23:00 +0000
Malcolm Graham-Wood on investment opportunities in the Oil & Gas sector VSA Capital offers up his thoughts on some of the opportunities that are opening up to investors in the Oil & Gas sector. He discusses how companies in Kurdistan are delivering shareholder value (LON:GENL LON:WZR LON:GKP NYSE:XOM NYSE:CVX), the 'size of the prize' in Africa, how companies are coping with the drop in natural gas prices in the US (LON:CAZA TSX:CAZ), how to benefit from opportunities in UK's unconventional space (LON:IGAS) and considers the future of the North Sea (LON:ENQ) ]]> Fri, 30 Aug 2013 15:51:00 +0100