London open: RBS, Barclays and Lloyds lead the way
19th Oct 2011 08:32
Greece has been crippled by strikes. Spain's debt has been downgraded by Moody's. And EU officials say no deal has been reached on scaling up the Eurozone fund. But for now London's leading share index is in positive territory. A 48-hour general strike has been called in Greece ahead of a vote on a
Read moreWednesday newspaper round-up: RBS/Lloyds, Mervyn King, Lord Wolfson
19th Oct 2011 06:05
Companies are cutting their business with the taxpayer-owned lenders Royal Bank of Scotland and Lloyds amid fears that the cost of borrowing will rise after the recent ratings downgrade by Moody's. The Association of Corporate Treasurers told MPs yesterday that corporate borrowers had already begun
Read moreLondon open: Footsie flat early on
14th Oct 2011 08:35
The Footsie has opened flat despite expectations that Thursday's vote by Slovakia to expand the Eurozone' rescue fund would give a boost to equities early on. After the close last night, the expansion of Eurozone's rescue fund, the European Financial Stability Fund (EFSF), was approved by Slovak MP
Read moreLondon close: Banks drag market lower after Fitch downgrade
13th Oct 2011 16:34
A late rally drove the Footsie back above the 5,400 mark, but the blue chip index still finished 0.71% down after Fitch dampened sentiment in the banking sector. Not helping the mood was the International Monetary Fund (IMF) which lowered its growth forecasts for Asia for this year and next. The re
Read moreSector movers: Rolls-Royce lifts aerospace/defence stocks
13th Oct 2011 16:18
Power systems giant Rolls-Royce surged 9% on Thursday, helping the aerospace and defence sector to the top of the pile. Late last night, the firm revealed two major initiatives which are expected to significantly raise its operating profits in the future. It plans to sell its 32.5% stake in the bus
Read moreFitch cuts rating for Lloyds and RBS
13th Oct 2011 15:28
Ratings agency Fitch has confirmed speculation and cut ratings across the UK banking sector, downgrading part-nationalised lenders Lloyds and Royal Bank of Scotland (RBS) due to uncertainties about the level of government support that they may receive. Ratings for Lloyds and RBS - which were alread
Read moreALERT -Fitch cuts ratings on RBS and Lloyds
13th Oct 2011 14:08
Fitch cuts ratings on RBS and Lloyds. AB
Read moreUPDATE: Fitch could downgrade UK banks today, says Sky News
13th Oct 2011 11:17
The banks tumbled lower late Thursday morning - despite rising earlier on - on the back of reports that Fitch could cut ratings across sector. Barclays was the heaviest faller, losing over 4% as of 11:48, while HSBC and Lloyds were also under the cosh. "The credit ratings agency Fitch is poised to
Read moreLondon close: Higher finish after choppy day
12th Oct 2011 16:36
London's leading share index closed in the blue as worries over the Slovak parliament's rejection of the European Financial Stability Fund (EFSF) gave way to optimism that it will be passed. SLOVAK SEE-SAW Late Tuesday night, just 55 of the 150 MPs in Slovakia's parliament voted in favour of expan
Read moreLondon midday: Stocks rally as Slovak shock fades
12th Oct 2011 12:05
London's leading share index has staged an impressive rally with worries following the Slovakian parliament's rejection of the euro bailout fund giving way to hopes that the small central European state will soon ratify the deal. SLOVAK HEADACHE, GERMAN REASSURANCE Late Tuesday night, just 55 of t
Read moreLondon open: EFSF worries weigh on Footsie
12th Oct 2011 08:28
Just eight of the 100 stocks on the Footsie were making gains on Wednesday morning, following the news that the Slovakia failed to agree on the extension of the Eurozone rescue fund. SLOVAKIAN HEADACHE Late Tuesday night, just 55 of the 150 MPs in Slovakia's parliament voted in favour of expanding
Read moreLondon close: Dull end to volatile week
7th Oct 2011 17:28
UK stocks reacted positively to better than expected US jobs data, with the Footsie recovering from a negative position to a positive one, but as the day drew to a close, traders quietly banked profits ahead of the week-end. Though the Footsie ended the day with only a modest rise, it capped a stro
Read moreFTSE 100 Movers: RBS shares hit by downgrade
7th Oct 2011 15:20
Royal Bank of Scotland (RBS) plunged lower after the announcment of Moody's decision to downgrade the bank's credit rating by two notches, which poured more fuel on rumours that the firm could need an extra injection of capital from the government. RBS issued a statement on Friday morning highlight
Read moreLondon midday: Stocks tread water ahead of US jobs data
7th Oct 2011 12:46
Losses are reasonably modest considering that some heavyweights from the banking sector are in the doldrums following a downgrade of 12 financial institutions by ratings agency Moody's. Stocks seem to be treading water ahead of a key employment report due out in the US before the opening bell in N
Read moreLondon open: Banks take a hit after Moody's downgrade
7th Oct 2011 08:32
Equities took a knock in early trading after Moody's dampened sentiment with the downgrade of 12 UK financial institutions. Stocks were expected to extend gains made over the last two days on the back of hopes for the struggling Eurozone. BANKS LEAD THE FALLERS The banks were the worst performers
Read more