London midday: City approves of new Barclays Chairman
10th Aug 2012 11:54
Footsie bumbled along for most of the morning a little in the red, weighed down by mining stocks, which have been under selling pressure after weak Chinese trade data. The top-share index did briefly venture into positive territory around 11:00 but with US futures markets pointing to a soft opening
Read moreLondon open: Chinese trade data depresses miners
10th Aug 2012 08:50
Mining stocks are weighing down the Footsie in early trade after weak Chinese trade data was released on Friday morning. Chinese exports grew 1.0% from a year earlier in July, which is not the sort of growth the market has become used to; economists had plumped for a growth rate of 8.6%. Imports,
Read moreBarclays plays it safe with new Chairman appointment
10th Aug 2012 07:36
Barclays, the bank which saw a raft of senior executives resign last month following the LIBOR-fixing scandal is to appoint City veteran Sir David Walker as its new Chairman. Walker will join the board on September 1st before replacing the outgoing Chairman, Marcus Agius, in November. Walker has s
Read moreFriday newspapers round-up: Barclays new Chairman, LIBOR, FSA
10th Aug 2012 06:45
Sir David Walker, former Deputy Governor of the Bank of England, and described by The Times as 'a veteran City grandee', has been named as the new Chairman of scandal-hit bank Barclays. His arrival caps a career that has included stints at the Treasury, Lloyds Bank, Legal & General and latterly Morg
Read moreThursday newspaper round-up: StanChart, Barclays, Chinese inflation...
9th Aug 2012 06:55
Standard Chartered has sought advice about whether it can pursue a legal action against the US regulator that on Monday accused the British bank of being a rogue institution which had funded $250bn of Iranian sanctions breaches. The bank's legal advisers believe "there is a case" for claiming reputa
Read moreBroker snap: StanChart rebound lifts banks higher
8th Aug 2012 16:23
Banking stocks were trading broadly higher on Wednesday as gains for heavyweight lender Standard Chartered were enough to offset weakness in the wider sector, with HSBC, Lloyds, Barclays and RBS trading in the red. Following a massive 16% tumble yesterday, emerging markets-focused bank StanChart wa
Read moreFTSE 100 movers: Standard Chartered plunges
7th Aug 2012 14:15
Emerging markets-focused banking titan Standard Chartered fell after the US banking regulator accused it of collusion with the government of Iran to hide transactions from authorities. Nomura, Oriel Securities and Bank of America all downgraded their ratings on the stock this morning. ?? Nomura cut
Read moreLondon midday: StanChart drags banks lower
7th Aug 2012 11:47
- StanChart dominates headlines on Iran dealings - UK manufacturing output falls 4.3 per cent - Spain could be nearing a bailout The Footsie had swung into the red by Tuesday lunchtime as the banking sector took a hit on the back of 24 per cent plunge from Standard Chartered due to alleged dealings
Read moreLondon close: Credit Suisse thinks defensive-led rally will continue
6th Aug 2012 17:06
- Greece making progress - RBS up on US sale rumours - StanChart in the spotlight over Iranian transactions UK stocks started the week strongly on the back of improvements in Greece and hopes of imminent action from the European Central Bank (ECB) to stem the crisis. After a meeting between the Tr
Read moreFTSE 100 movers: RBS and Barclays move to the fore
6th Aug 2012 13:55
Royal Bank of Scotland is moving higher after The Sunday Times reported that Brazil´s Banco Itau could be sizing up the lender´s US operations. Those assets could fetch a price of 10bn pounds the paper reported. Barclays was also up on widespread reports that it is planning an overhaul of its bonu
Read moreBarclays plans 'bonus overhaul'
6th Aug 2012 10:47
There are widespread reports that Barclays is planning an overhaul of its bonus system, that could see payouts withheld until bankers leave the company. The stories, which reference unnamed sources, say Barclays is considering following in the footsteps of HSBC, which recently put forward plans to
Read moreLondon close: Markets rocket after US July jobs data
3rd Aug 2012 16:27
- US payrolls smash expectations - Short-term EZ periphery bond yields plummet - FTSE Mibtel and Ibex 35 finish 6% higher each - Euro bounces back - Expectations for further QE in US tempered Equity markets across Europe surged on Friday, rebounding strongly after a poor run the day before, as so
Read moreSector movers: Miners, financials gain after US jobs data
3rd Aug 2012 15:50
There were no sectors in the red on Friday in London as some uplifting economic data from the US increased investors' risk appetite. Some 163,000 US payrolls were added in July, well ahead of the 100,000 expected by economists. Meanwhile, the non-manufacturing index from the Institute for Supply Ma
Read moreLondon midday: Footsie rebounds strongly after Draghi-fuelled sell-off
3rd Aug 2012 11:39
- RBS leaders risers after first-half figures - Markets await US data - Peripheral yields fall, ECB rumours do the rounds The Footsie was up 1.3 per cent by midday on Friday as strong gains in the financial sector provided a lift to the blue-chip index as it attempted to claw its way back from a he
Read moreLondon open: Stocks rebound after Draghi disappointment
3rd Aug 2012 08:31
- Stocks rebound after Draghi-fuelled sell-off - Chinese data improves - RBS leads banks higher after first-half results The Footsie rose strongly Friday morning, rebounding after a heavy sell-off the day before, with RBS and the banks providing a lift early on. Stocks sank yesterday after a press
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