Server failure leaves CISI exam takers hanging over weekend June 30, 2014 There will be a few well-bitten finger nails in the City this morning. Wannabe traders and investment professionals currently taking the Chartered Institute for Securities & Investment (CISI) test had to wait until this morning to find out the results of their Friday exams. Scores are usually available as soon as an exam is over [...]
Best of the Brokers for 30 June 2014 June 29, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BARCLAYS Standard and Poor’s has reduced Barclays to “hold” from “buy”, also cutting the target price to 240p from 300p. The broker noted the further risk for potential regulatory fines, with Barclays already facing investigation from various authorities into a number of alleged [...]
Barclays’ Antony Jenkins under fire as share price plunges 6.52 per cent June 26, 2014 Barclays shares dived yesterday as shareholders panicked that the lender could face another huge legal bill over claims it lied to investors using its dark pool trading facilities. It is the latest in a series of scandals hitting the bank, and these claims are particularly damaging as the alleged wrongdoing occurred on the [...]
What is a dark pool? And what is Barclays accused of? June 26, 2014 Q What is a dark pool? A Dark pools are private exchanges where access to transactions is tightly limited, and information on the trades is not made publicly available. Q Why would anyone use that? Are they popular? A They are increasingly popular – around 40 per cent of US equity trades go [...]
Debenhams refinances debts with £225m bond June 26, 2014 Department store Debenhams refinanced its debts yesterday after launching a £225m bond issue. The retailer has sold £225m of senior notes due in 2021 at a 5.25 per cent yield. This was more than the £200m it had planned to raise when it announced the bond issue last week. Chief executive Michael Sharp, said the [...]
Behind the deal June 26, 2014 RBC CAPITAL MARKETS | JOSHUA CRITCHLEY 1 Critchley is the son of the late Conservative MP, Sir Julian Critchley. 2 He joined RBC Capital Markets in September 2009 and is currently managing director and head of European investment banking. 3 Prior to RBC, he was at Goldman Sachs from 2004 to 2009 and served at [...]
Boris Johnson’s Barclays bikes could be getting an animal print paint job June 26, 2014 When Barclays hands over the reins of its Boris Bike sponsorship next year it could well be passing them to an east London toy maker. TellTails is hoping to raise £37.5m on crowdfunding site Indiegogo to give each bike an animal print paint job and tail. We think they’re rather fetching… From the [...]
London Report: FTSE flat as Barclays fall is countered by housebuilder climbs June 26, 2014 BARCLAYS Bank’s shares plummeted 6.5 per cent yesterday as the FTSE index ended flat despite a rally in housebuilders on Bank of England comments. The FTSE 100 closed on 6,735.12 up 0.02 per cent or 1.5 points. The market was also underpinned by the London Stock Exchange Group, which surged 6.1 per cent after unveiling [...]
New York Report: Dow down on rates rise call June 26, 2014 US STOCKS ended slightly lower yesterday, after the president of the Federal Reserve Bank of St Louis said interest-rate increases should come sooner rather than later. The Dow Jones industrial average fell 21.38 points or 0.13 per cent, to end at 16,846.13. The S&P 500 slipped 2.31 points or 0.12 per cent, to 1,957.22. The [...]
Barclays sued for dark pool securities fraud: What is a dark pool? June 26, 2014 Barclays in the US is being sued for fraudulent behaviour, following a complaint filed by New York attorney general Eric Schneiderman. He claimed that the bank had misrepresented the participants of its dark pool, leaving institutional investors exposed to high frequency trading “predators”. A dark pool is a covert trading location where all trades are anonymous [...]