Latest on The Economy News
- HSBC Holdings plc: HSBA shares hit lower as investors persist with a now 6 pct correction from 4.5 year highs
- EMED Mining Public Limited and Chariot Oil & Gas Limited: Two stocks forecasted to head in opposite directions
- Outlook for Sirius Minerals PLC and XCITE ENERGY LIMITED suggest short-term price action will be biased to the downside
- Outlook for the Australian dollar dealt a blow as Goldman Sachs forecasts further declines; technical charts firmly against the AUD
- Outlook for the Euro boosted further as German Gfk index rises unexpectedly; technical traders say 1.3 level will be critical to further direction
- Outlook for the British Pound Sterling: GBP/AUD breaks resistance, GBP/EUR and GBP/USD pairs facing technically bearish price-chart action
- Outlook: Pound euro exchange rate forecasted to end week in the red; Should GBP be putting in a better performance against the EUR?
- Outlook for Gulfsands Petroleum plc (GPX): Shares tipped to head lower towards 80.5 ahead of rebound
- FX Alert: Pound sterling forecasted to rebound against US dollar say Lloyds Bank in strategic currency note
- Australian dollar and New Zealand dollar on the back-foot against the British pound sterling
Barclays, Lloyds Banking Group, RBS: Analysts at Exane BNP Paribas offer guidance on UK banking shares
- Details
- Category: Financials
- Published on Thursday, 21 June 2012 08:39
- Written by Will Peters
Broker roundup: Where to for the shares of Royal Bank of Scotland, Lloyds Banking and Barclays? Exane BNP Paribas offer some guidance for some of the most prominent UK banks.
Starting with Barclays plc (LON:BARC), analysts at Exane BNP Paribas have maintained an Outperform rating on the BARC stock.
A target share price has been set at 300. Looking at the markets this morning we see the stock is currently trading at 204.85. Upside potential = 46.5 pct.
Lloyds Banking Group plc (LON:LLOY) shares are at 30.79 on the FTSE 100 this morning, or 1.33 pct down on Wednesday's close.
Exane BNP Paribas have also maintained LLOY at Outperform, setting a target share price at 45, there is an upside potential of 46 pct from current levels.
But Royal Bank of Scotland Group plc (LON:RBS) is rated at Netural. RBS shares have been set a target of 280, this morning we see the stock trading at 244.40. There is a potential upside of 15 pct.
Sentiement weighed by US Fed actions
This morning we see markets open lower as the promise of concrete stimulus out of the US Fed was not to be.
"Disappointment over the Fed’s extension of ‘Operation Twist’ will weigh on sentiment, though the Fed did indicate that it was prepared to take further action should the US economy deteriorate further. This will offer a degree of comfort, as it suggests the Fed will act if needed," says Ishaq Siddiqi at ETX Capital.
Coming up today
Looking ahead to the day’s key events – euro zone flash PMI’s will be in focus. The composite index has contracted in recent months, painting a gloomy picture of the euro zone.
"Further declines are expected, but the attention will be on power Germany. Weakness in Germany will cause further worries about the future of the euro zone economy. Spain is back testing the debt markets with a bond auction. Expectations are for a decent outcome, though the country will continue to pay higher yields," says Siddiqi.
Latest on The Economy News
- HSBC Holdings plc: HSBA shares hit lower as investors persist with a now 6 pct correction from 4.5 year highs
- EMED Mining Public Limited and Chariot Oil & Gas Limited: Two stocks forecasted to head in opposite directions
- Outlook for Sirius Minerals PLC and XCITE ENERGY LIMITED suggest short-term price action will be biased to the downside
- Outlook for the Australian dollar dealt a blow as Goldman Sachs forecasts further declines; technical charts firmly against the AUD
- Outlook for the Euro boosted further as German Gfk index rises unexpectedly; technical traders say 1.3 level will be critical to further direction
- Outlook for the British Pound Sterling: GBP/AUD breaks resistance, GBP/EUR and GBP/USD pairs facing technically bearish price-chart action
- Outlook: Pound euro exchange rate forecasted to end week in the red; Should GBP be putting in a better performance against the EUR?
