RBS appoints two non-executive directors
2nd Oct 2009 07:15
Part-nationalised bank Royal Bank of Scotland is beefing up its board with the appointment of two non-executive directors. Aviva group finance director Philip Scott will join the board from 1 November and will assume the position of chairman of a new Risk Committee of the RBS board. Penny Hughes
Read moreLondon close: Footsie slides with Wall Street
1st Oct 2009 16:28
Footsie closed sharply lower after the US reacted badly to worse than expected dole claims. The Dow is now down more than 100 points with investors nervous ahead of the big monthly non-farm payrolls figure tomorrow. BAE struggled after the Serious Fraud Office asked the Attorney General if it can p
Read moreLondon afternoon: Blue chips drifting along
1st Oct 2009 14:05
Footsie has recovered a little ahead of the US open, but the index is still in the red with weapons group BAE Systems especially under the cosh. Early indications are for the Dow to drop between 15-18 points, with intital jobless claims a bit higher than expected. The big jobs figure comes tomorro
Read moreBroker tips: Insurers, Misys, Domino's Pizza
1st Oct 2009 12:53
The life assurance sector has recovered strongly from its first quarter lows but there is still plenty of juice left in the major players, Panmure Gordon reckons. The broker has increased its target prices for five insurers: Prudential (to 732p from 585p), Standard Life (234p from 212p), St. James'
Read moreLondon midday: Footsie slips after record quarter
1st Oct 2009 12:08
Footsie has paused for breath after its record-breaking quarter with weapons group BAE Systems especially under the cosh. The Serious Fraud Office has asked the Attorney General if it can prosecute the defence contractor over alleged bribery in a number of countries. The SFO is deciding if it shou
Read moreFTSE 100 movers: Tough day for Footsie
1st Oct 2009 11:30
Blue chips had a tough day with the index turning down sharply after US initial dole claims figures came in worse than expected. Miners led the way lower on concerns that the US economy is not recovering as expected. Lonmin, Xstrata and Anglo American all fell sharply. Vedanta was the exception on
Read moreBroker snap: Insurance consolidation 'inevitable'
1st Oct 2009 11:16
The life assurance sector has recovered strongly from its first quarter lows but there is still plenty of juice left in the major players, Panmure Gordon reckons. The broker has increased its target prices for five insurers: Prudential (to 732p from 585p), Standard Life (234p from 212p), St. James'
Read moreLondon open: Healthy start to Q4
1st Oct 2009 08:40
London set off higher Thursday as buyers snapped up miners and Legal & General (L&G) continued to attract speculative interest. Persistent talk that Resolution is circling L&G had the insurer higher again in early deals, while yesterday's upgrade by Deutsche Bank helped. The broker also thinks Av
Read moreAviva confirms £470m fund payout
1st Oct 2009 07:44
Insurer Aviva confirmed today it has completed the reattribution of the 'inherited estate' in its CGNU and CULAC with-profit funds worth £470m to policyholders. Customers will automatically start receiving their payments from early November with most receiving them by the end of the year. The compa
Read moreLondon close: Best ever quarterly gain for Footsie
30th Sep 2009 17:00
Wall Street fell out of bed at the start of its trading day after the release of disappointing business activity data and London quickly followed the US market downwards. However, a rally in the last half hour ensured that the FTSE 100 enjoyed its best ever quarterly percentage gain since the index
Read moreLondon afternoon: Footsie still lacking direction
30th Sep 2009 14:20
Footsie has continued its recent sluggish run, with company updates pulling the leading share index in both directions, but remains set for a record quarterly gain. Hedge fund manger Man is the best performer after a bullish trading update. "Investor sentiment is continuing to improve across the in
Read moreLondon midday: FTSE 100 on course for record quarter
30th Sep 2009 12:13
Footsie still looks on course for a record quarterly gain, but early strong rises have been whittled away ahead of the US open. Hedge fund manger Man is the best performer after a bullish trading update. "Investor sentiment is continuing to improve across the industry, the performance outlook is h
Read moreLondon close: Directionless day for FTSE 100
29th Sep 2009 16:52
Footsie finished slightly in the red after another day of flitting between the red and the blue while not showing any real sense of direction. Swiss bank Credit Suisse has issued a bearish note on the property sector prompting the likes of Land Securities, SEGRO and Hammerson to shift into reverse
Read moreSector movers: Takeover talk shakes up insurers
29th Sep 2009 14:44
Rumours that serial insurance company raider Clive Cowdery is preparing a takeover bid for Legal & General(L&G) through his investment vehicle Resolution has lifted the sector higher. L&G leads the way, with sector peer Aviva not far behind. Mining stocks are lower as metals prices slip back. Plati
Read moreLondon afternoon: Back to square one
29th Sep 2009 14:34
It's back to square one for the Footsie which is barely changed on the day, with gains on banks and insurers counterbalanced by miners and property stocks. Swiss bank Credit Suisse has issued a bearish note on the property sector prompting the likes of Land Securities, SEGRO and Hammerson to shift
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