London open: Markets drop on Eurozone debt concerns
23rd Jul 2012 08:25
- Banks and miners dent the Footsie - Eurozone concerns dampen sentiment - Spanish 10-year bond yield at 7.556 per cent European stocks dropped sharply on Monday morning as concerns about the Eurozone debt crisis provoked fear on equity markets. London's Footsie lost 1.5% of its value in the openi
Read moreSunday newspaper round-up: Irreversible, Catalonia, British Gas
22nd Jul 2012 21:04
The euro is "irreversible" and the beleaguered currency union is not in danger of collapsing, according to European Central Bank President Mario Draghi, who also argued that Eurozone nations will eventually be bound even closer together. The central bank chief suggested that analysts who have been t
Read moreLondon close: Time to cut the Gordian knot?
20th Jul 2012 17:07
- Spanish bond yields soar - Sicily´s non-collected receivables rise to EUR 15.7bn - Valencia asks Madrid for help - Resolution leads the Footsie lower Equity markets across Europe tanked on Friday afternoon, presumably on the back of concerns over Spain's financial health, with capital markets in
Read moreFTSE 100 movers: Resolution falls after cancelled cash return
20th Jul 2012 15:51
Shares in UK life insurance and asset management group Resolution dropped sharply after the group cancelled the cash return of 250m pounds set for the first half of 2012 due to "uncertainty" in the markets. The group said that the decision was based on its estimated capital position as at the end
Read moreThursday broker round-up
19th Jul 2012 09:43
Afren: JP Morgan Cazenove reiterates overweight. Avocet: Westhouse Securities upgrades to buy. Barclays: Goldman Sachs upgrades to neutral, target cut from 250p to 220p. BG Group: Credit Suisse downgrades from outperform to neutral, target cut from 1,660p to 1,500p. British American Tobacco: Inv
Read moreRegulators focus on EURIBOR manipulation
19th Jul 2012 07:37
After Barclays was fined 290m pounds for manipulating LIBOR, regulators are now focusing on its European equivalent, EURIBOR (euro-based intebank lending rate set in Brussels via the averaging of bank submissions). Barclays once again is to be the main culprit although the investigation also invol
Read moreThursday newspaper round-up: Britain, Sicily, BP
19th Jul 2012 06:51
In an interview with The Daily Telegraph, Mr Cameron says that he now expects the crisis in the eurozone to drag on for years, blighting the British economy. He indicates that the programme of spending cuts, initially planned to take five years, is now likely to last for the entire decade. Mr Camero
Read moreLondon close: Stocks slip as Bernanke disappoints
17th Jul 2012 16:41
- No hints from Bernanke for QE3 - German ZEW index falls for third straight month - G4S tumbles on Olympics contract; CSR rockets after disposal, cash return With Ben Bernanke failing to give any clear indications quickly enough this afternoon [before London markets closed], as regards the possibi
Read moreBroker snap: Barclays still at the top of Investec's list
17th Jul 2012 16:17
In spite of the regulatory troubles that continue to hound lender Barclays, Investec says that the stock remains its favourite in the UK banking sector. The bank's former Chief Operating Officer Jerry del Missier told the Treasury Select Committee that, acting on a phone call from ex-boss Bob Diamo
Read moreTuesday newspaper round-up: BoE, Pound, Drilling
17th Jul 2012 07:12
Bob Diamond was rounded on by his former right-hand-man and three top City regulators today as he was accused of giving the direct instruction to lower the Libor rates at the heart of the rigging scandal. Jerry del Missier, former chief operating officer at Barclays, told the Treasury Select Committ
Read moreLondon close: Global growth concerns weigh on stocks
16th Jul 2012 16:39
- China's Wen dampens sentiment - IMF cuts global growth forecast - G4S, Tullow, Sage and Barclays lead the fallers The FTSE 100 finished flat on Monday as a late burst of buying helped the benchmark index recover some of its earlier losses on the back of concerns over the global economic outlook.
Read moreSector movers: Miners suffer after Wen's comments
16th Jul 2012 15:20
Risk aversion saw the mining, personal goods and banking sectors fall on Monday as concerns over the global economic outlook saw investors flee for safety. Mining peers Kazakhmys, Randgold, Vedanta Resources and Polymetal were among the worst performers on London's benchmark index after Chinese Pre
Read moreFTSE 100 movers: G4S leads fallers
16th Jul 2012 15:16
Security solutions firm G4S tumbled from the off today after saying that it will incur a loss on its Olympics Games contract of 35-50m pounds after failing to provide the number of staff for the event that it had committed to. Chief Executive Officer Nick Buckles said that the company is "deeply dis
Read moreLondon midday: Footsie flat despite heavy falls for G4S and Barclays
16th Jul 2012 11:42
- Chinese economic concerns weigh on sentiment - ECB moves to make senior bondholders share burden - G4S, Barclays, Sage, National Grid lead the fallers on FTSE 100 UK stocks were trading broadly flat by Monday lunchtime, though sentiment had been dampened by concerns over the Chinese economy and c
Read moreMonday newspaper round-up: Capital requirements, Gatwick, Barclays...
16th Jul 2012 07:32
The head of Europe's top banking regulator has raised the bar for lenders' capital requirements, insisting that the nine per cent capital ratio they had to hit as a 'temporary buffer' by June is to become permanent. Andrea Enria, chairman of the European Banking Authority, said "capital conservation
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