UK's Close Brothers falls after RBC downgrade on motor finance uncertainty
06/07/2026 09:25
BUZZ-UK's Close Brothers falls after RBC downgrade on motor finance uncertainty ** British lender Close Brothers' CBRO.L shares fall over 8% to 403.40 pence - biggest loser on the FTSE midcap index .FTMC
** Brokerage RBC cuts PT to 470 pence from 625 pence
** Britain's FCA said parts of its proposed £9.1 bln motor finance compensation scheme would be suspended pending legal challenges
** "We believe the shares could drift from here," RBC says, adding that CBRO is unlikely to pay an FY26 dividend
** RBC downgrades stock to "sector perform" from "outperform"
** Four of the eight analysts covering the stock have a "buy" rating, and four have "hold"; median PT 512.50 pence - data compiled by LSEG
** YTD, stock down ~21%
(Reporting by Neeshita Beura in Bengaluru)