London pre-open: Europe likely to follow the US lower
4th Aug 2015 08:07
(ShareCast News) - City sources predict the FTSE 100 will open 25 points lower than Monday's close of 6,688.62. Overnight markets were mixed with the US down and Asia up, but Europe has followed the US, London Capital Group night editor Jonathan Sudaria said. "Gains in Asia, and in particular
Read moreUK government starts RBS share sell-off
3rd Aug 2015 18:17
(ShareCast News) - The UK government said it has started the sell off of its 79% stake in Royal Bank of Scotland, with a tranche of 600m shares, or 5.2% being offered to institutional investors at a loss to the taxpayer. The controversial sale, to take place overnight, will spark criticism of Bri
Read moreUK government cuts stake in Lloyds to just under 14%
3rd Aug 2015 09:35
(ShareCast News) - The UK government has sold more of its shares in Lloyds Banking Group, bringing its stake down to 13.99% from 14.98%. Lloyds said on Monday that the government now owns 9.98bn shares in the bank compared with 10.69bn previously. There was no price disclosed for the share sale, wh
Read moreSunday newspaper round-up: RBS stake sale, Arriva return, IHG deals eyed
2nd Aug 2015 15:19
(ShareCast News) - The government may begin the process of selling down its 79% stake in Royal Bank of Scotland this week at the behest of Chancellor George Osborne. A sale of a £2.5bn chunk of shares, equivalent to 6% of the company, could begin in the coming days, the Sunday Times said. The Treasu
Read moreLondon close: FTSE finishes on the front foot as investors weigh earnings and data
31st Jul 2015 17:13
(ShareCast News) - The FTSE 100 picked up steam to close on a positive note after a mixed day of corporate reports and economic data. In Europe, German retail sales rose 5.1% in June, beating expectations for a 4% increase. Compared to a month ago, sales dropped 2.3%, ahead of forecasts for a 0.3% g
Read moreNatWest customers suffer more technical glitches
31st Jul 2015 13:27
(ShareCast News) - NatWest Bank is looking into problems with its online services after customers complained that payments, including salaries, were not going through. Customers said the website was running slowly, while some were unable to use the bank's app or even their credit cards. The bank tw
Read moreLondon midday: FTSE in the red on mixed earnings, data
31st Jul 2015 12:27
(ShareCast News) - The FTSE 100 slipped into the red on the back of a flat session in Asian markets, mixed earnings releases and economic data. Asian stocks were mixed, with Japan's Nikkei 225 index ending higher on upbeat reports on housing starts and construction orders but Shanghai fell on report
Read moreFriday newspaper round-up: Government RBS share sale, automotive slowdown
31st Jul 2015 08:01
(ShareCast News) - The government is set to launch its first sale of Royal Bank of Scotland shares since the lender's £46bn taxpayer-funded rescue nearly seven years ago, marking the beginning of the bank's return to private ownership. Bankers have been sounding out investors for the past week about
Read moreFTSE 100 movers: Shell rallies on better-than-expected earnings, but Centrica drops after announcing job cuts
30th Jul 2015 15:56
(ShareCast News) - London's top-flight index was up 0.6% at 6,670 by 15:41 BST, as investors waded through a raft of earnings reports. Royal Dutch Shell and BG Group were both sharply higher after Shell's second-quarter results beat expectations. The Anglo-Dutch oil major posted adjusted profits of
Read moreRBS smashes analysts' forecasts with second quarter results
30th Jul 2015 09:54
(ShareCast News) - Royal Bank of Scotland saw profits decline in the second quarter, as a result of lower income at its corporate and institutional banking unit after it was downsized and higher restructuring costs, but nevertheless beat analysts' estimates by a wide margin. The group also highlight
Read moreRBS sets final pricing for Citizens shares
29th Jul 2015 10:32
(ShareCast News) - Royal Bank of Scotland has announced the final pricing for the offering of shares in Citizens Financial Group will comprise 86m shares. The shares, priced at $26 each, represent 16% of Citizens' common stock, the FTSE 100 group said on Wednesday. The banking giant has also grante
Read moreRBS plans to sell more Citizens shares, could cut stake to below 25%
28th Jul 2015 13:43
(ShareCast News) - Royal Bank of Scotland has confirmed that it will soon sell another part of its shareholding in Citizens Financial Group, the US subsidiary it floated in New York last September, in an underwritten public follow-on offering. The bank, which currently has a 40.8% stake in Citizens
Read moreLondon close: East meets West as Nikkei picks up FT
23rd Jul 2015 17:57
(ShareCast News) - The sale of the FT Group by Japan's Nikkei livened up an otherwise lacklustre day in terms of economic data or news-flow. In an e-mail sent to subscribers Nikkei announced the £837m deal, which analysts saw as a bold bid by the Asian media group to break out of its home market. T
Read moreLondon open: Stocks edge higher after Greece approves reforms
23rd Jul 2015 09:42
(ShareCast News) - With inflation set to remain below its target for longer than expected and as the Greek crisis rolls on Barclays now thinks the European Central Bank will be forced to extend its programme of bond buying beyond the expected end date of September 2016. As of 0828 BST, the FTSE 100
Read moreRBS to sell loans portfolio; expects profit of £24m
23rd Jul 2015 08:32
(ShareCast News) - Royal Bank of Scotland has agreed to dispose of a portfolio of loans to an entity funded by Deutsche Bank and funds affiliated with Apollo Global Management for a cash consideration of around £400m. Completion is expected in September 2015 and the disposal proceeds will be used fo
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