Stock market analysts have suggested investors to ‘sell’ SBI stock as there are full chances of a downward trend in this stock.
According to them, investors can sell the stock with a strict stop loss of Rs 1121 to achieve an intraday target of Rs 1082.
Analysts feel that SBI stock would remain under high pressure due to existing market condition. The stock also remained weak on Tuesday (Feb 17), closing below its 21-day moving average.
London - Britain's Royal Bank of Scotland (RBS) Tuesday announced a drastic cut in bonus payments to staff, following intensive talks with the government on the vexed issue of cash bonuses.
The Edinburgh-based bank, which is nearly 70-per-cent-owned by the taxpayer, said it would slash 2008 staff bonuses by more than 90 per cent to 175 million pounds (249 million dollars).
Last year, RBS paid out 2.5 billion in bonuses for work performed in 2007. For 2008, it had planned to award bonuses totalling around 1 billion pounds.
Amsterdam - Dutch insurer Aegon suffered a loss of 1.2 billion euros (1.53 billion dollars) in the fourth quarter of 2009, the company said in its preliminary Q4 report released on Tuesday.
Financial analysts had expected a loss of 800 million euros.
Following the publication of the results, the share value of Aegon dropped by 3.1 per cent at the Amsterdam stock exchange and stood at 3.6 euros shortly after trading began on Tuesday.
Warsaw - Poland's National Bank warned on Monday against moving closer to adopting the euro, saying that at present there were few economic reasons to enter the precursory stage for adopting the euro.
It was "highly uncertain" that Poland could meet the criteria to stay in ERM-2, a pre-cursor program to joining the eurozone, said the report, released on Monday.
A qualifying country is required to spend at least two years in ERM-2 and run a budget deficit at no more than 3 per cent of the GDP.
London - The financially strapped Royal Bank of Scotland is considering a cost-cutting programme that could mean reducing its work force by as many as 20,000 people, reported the Sunday Times.
The bank, which has already been partially nationalized in the fallout from the ongoing financial crisis, is planning the cost- cutting effort before the release of a report at the end of February that is expected to show another loss of 28 billion pounds (40.4 billion dollars).
Wiesbaden, Germany - A further German banking group, the mortgage lender Aareal, asked Sunday to be partly nationalized by the German government as it struggles to cope with the financial crisis.
In a statement from its head office in the city of Wiesbaden, Aareal said it had obtained an equity injection of 525 million euros (682 million dollars) and up to 4 billion euros in cover from federal loan guarantees, as set out in German bail-out legislation.
Stock market analysts have suggested investors to ‘sell’ SBI stock as there are full chances of a downward trend in this stock.
London - Britain's Royal Bank of Scotland (RBS) Tuesday announced a drastic cut in bonus payments to staff, following intensive talks with the government on the vexed issue of cash bonuses.
Amsterdam - Dutch insurer Aegon suffered a loss of 1.2 billion euros (1.53 billion dollars) in the fourth quarter of 2009, the company said in its preliminary Q4 report released on Tuesday.
Warsaw - Poland's National Bank warned on Monday against moving closer to adopting the euro, saying that at present there were few economic reasons to enter the precursory stage for adopting the euro.
London - The financially strapped Royal Bank of Scotland is considering a cost-cutting programme that could mean reducing its work force by as many as 20,000 people, reported the Sunday Times.
Wiesbaden, Germany - A further German banking group, the mortgage lender Aareal, asked Sunday to be partly nationalized by the German government as it struggles to cope with the financial crisis.
