BP share price rises despite earnings slide – but it can break even if oil prices hit $60 per barrel October 27, 2015 A mammoth dip oil prices, now at $47.14 per barrel, during the third quarter was not all bad news for BP as outdid analysts' expectations, and the company predicts it can break even by 2017 based on oil prices of $60 per barrel. The figures BP reported a 40 per cent drop in underlying replacement cost profits (a measure of profitability [...]
City Moves for 27 October 2015 | Who’s switching jobs October 26, 2015 LOMBARD ODIER Duncan MacIntyre has been appointed chief executive of the banking firm’s private client business in the UK. He joins from Coutts & Co, where he founded and was global head of its private office. MacIntyre has also worked as a senior private banker at JP Morgan, which he joined from Robert Fleming & [...]
BP, Shell and BG Group earnings: Investec says oil companies’ profits set to halve amid rout October 26, 2015 Could oil majors' profits halve when they update the market on their third-quarter trading this week? Broker Investec has said it expects low oil prices to push the sector's earnings down 29 per cent quarter-on-quarter, and 57 per cent annually. Amid the gloom, traders will be looking for evidence oil companies' upstream operations – which relate to the extraction and [...]
Banks come to fore as sector to report results – London Report October 25, 2015 BANKING results season is upon us, with three of the big four reporting this week. And on the economic front, third-quarter GDP figures are expected to show that the economy is slowing down due to weaker construction and manufacturing output. Corporates Royal Dutch Shell and BG Group also report in with updates, as does sector [...]
New mortgage rules to affect dual currency earners – Investec Comment October 25, 2015 Coming into force in March next year is the EU Mortgage Credit Directive, and it is likely to have a significant impact on many who work in the City. It has a variety of implications, including for buy-to-let mortgages, but least well-understood is how it will affect the provision of mortgages for people who [...]
Analysts expect RBS to announce more growth in capital buffers this week October 25, 2015 Royal Bank of Scotland (RBS) is expected to announce further growth in its core capital buffers later this week, fuelling speculation over when the bank will pay its first dividend since the financial crisis. Analysts at Bernstein Research expect RBS to announce on Friday that its core capital buffers grew to 12.6 per cent in [...]
Investec: Lloyds Banking Group will post a £2.3bn profit this week October 25, 2015 Lloyds Banking Group is expected to post a rise in quarterly profits on Wednesday, in its first set of results since chancellor George Osborne announced that retail investors would be able to buy shares of the bailed-out bank at a discount next year. Citing “modest revenue growth, lower costs and potentially no charge at all for [...]
Frankie to lay a solid Foundation for next season October 23, 2015 Frankie Dettori must have to pinch himself when he looks back on this season. The world’s most famous jockey has had plenty of lows in recent years, but they have been laid to rest after a quite remarkable 2015. Golden Horn has been his saviour. Wins in the Investec Derby, Coral Eclipse, Irish Champion [...]
Lonmin share price dips as it reveals plans for cash call in the face of debt crunch October 21, 2015 Embattled Lonmin has become the latest miner to ask for cash from its shareholders, as it struggles with an unwieldy debt load taken on at the height of the commodities boom. The South African platinum producer outlined plans for a $400m (£259m) rights issue, which it needs for banks to agree to $370m in debt facilities that will [...]
Best of the Brokers for 21 October 2015 October 21, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com POUNDLAND Investec has initiated coverage of Poundland with a “hold” rating and a target price of 300p. The broker said near-term profit benefits from the integration of 99p Stores are expected to return Poundland to 20 per cent growth or more in 2017 [...]