Royal Bank Of Scotland Is Making Progress Slowly
The Royal Bank Of Scotland: Undervalued As Restructuring Moves Forward
Helix Investment Research • 17 Comments
Helix Investment Research • 17 Comments
Wed, Jul. 13, 5:34 PM
Mon, Jul. 11, 1:00 PM
Fri, Jul. 8, 9:15 AM
Wed, Jul. 6, 11:10 AM
- Cashing out of stocks in one thing, but unloading that office building or shopping mall by the close of business is a different story. Henderson Global Investors suspends dealings in its £3.9B U.K. property fund, becoming the fourth such outfit to do so this week.
- The FTSE 100 (NYSEARCA:EWU) is lower by 1.45% ahead of the close, outperforming Europe once again, where most major markets are down 2% or more.
- That's in nominal terms, of course. The British pound (NYSEARCA:FXB) has taken out new three-plus decade lows, now down 1% vs. the dollar at $1.2892.
- Faring worst in the U.K. are the banks. RBS (RBS -7.7%), Lloyds (LYG -8.9%), Barclays (BCS -3.6%), HSBC (HSBC -1%).
Wed, Jul. 6, 9:16 AM
Tue, Jul. 5, 9:15 AM
Mon, Jul. 4, 6:33 AM
- "This will be a setback, let's be quite honest, I think at least a couple of years we'll be pushed back because of it," Royal Bank of Scotland (NYSE:RBS) CEO Ross McEwan told LBC radio.
- A Brexit-induced economic slump is the latest headache for Chancellor of the Exchequer George Osborne, who has planned to raise about £25B by disposing of Britain's stake in RBS by 2020.
Fri, Jul. 1, 5:36 PM
Tue, Jun. 28, 7:13 AM
- That $35B is through 2018, and it represents an 11% decline from what profits would have been without the economic shock of the Brexit, says Goldman. U.K. banks will suffer the most, with Nordic lenders least exposed.
- The team cuts Barclays (NYSE:BCS) to Neutral from Buy, citing "heightened operational risk due to passporting (system that lets EU members service clients in all of the bloc's states)."
- After the carnage of Friday and Monday, it's bounce day today. Lloyds (NYSE:LYG) +6.1%, RBS +4.05%, HSBC +1.7%, BCS +2.3% premarket.
- European lenders: DB +2.8%, SAN +2.45%.
- ETF: EUFN +4%
Tue, Jun. 28, 5:19 AM
- Moody's will revise the outlook of "a number of big U.K. lenders" to negative from stable today due to fallout from last week's EU referendum, Sky News reports.
- The plan comes just hours after rival Standard & Poor's stripped the U.K. of its coveted triple-A rating and Fitch downgraded the sovereign.
- Related tickers: HSBC, BCS, RBS, LYG, OTCPK:SCBFF
Tue, Jun. 28, 3:25 AM
- The British government has abandoned plans to sell down its shareholdings in RBS and Lloyds (NYSE:LYG) in light of the Brexit referendum, leaving a multi-billion pound hole in its finances.
- The Treasury had planned to cut its exposure to the domestic banks, raising £9B through stock sales, but the date has now been pushed back until at least 2017 given market volatility.
Mon, Jun. 27, 9:44 AM
- Amid more gut-wrenching losses for U.K. banks, HSBC is outperforming by a mile with just a 4.5% decline today. Liking HSBC's "defensive" nature post-Brexit, JPMorgan's Kian Abouhossein upgrades to Neutral from Underweight.
- Alongside, he downgrades Lloyds (LYG -15.6%) and Barclays (BCS -20.5%) to Neutral from Overweight, and RBS (RBS -13.4%) to Underweight from Neutral.
- At issue for all U.K. banks, he says, is the likelihood the Bank of England cuts its benchmark rate to zero, further pressuring net interest margins.
Mon, Jun. 27, 9:13 AM
Mon, Jun. 27, 6:55 AM
- Banks across the globe are taking another serious beating post-Brexit.
- The sector is getting battered on fears that fragile recoveries at many financial institutions will be delayed and that volatile markets could claim scalps.
- Several sources have also revealed that Italy is considering a €40B capital infusion into its banks.
- Banking stocks premarket: BCS -21%, RBS -15%, LYG -17%, DB -9%, UBS -6%, HSBC -5%, C -2%, MS -2%, BAC -2%, JPM -1%, WFC -1%, GS -1%.
- ETFs: XLF, FAS, FAZ, KRE, UYG, VFH, KBE, IYF, BTO, IAT, IYG, SEF, FNCL, FXO, KBWB, QABA, RYF, FINU, KBWR, KRU, RWW, FINZ, KRS, XLFS
Fri, Jun. 24, 1:00 PM
Fri, Jun. 24, 12:45 PM
Royal Bank of Scotland Group Plc operates as an international banking and financial services company that provides a wide range of products and services to personal, commercial, and large corporate and institutional customers through its two principal subsidiaries: The Royal Bank of Scotland Plc... More
Industry: Money Center Banks
Country: United Kingdom
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