London close: Italian fears spark sell-off
9th Nov 2011 16:30
The top share index in London finished at its lowest levels of the day on Wednesday afternoon, as worries over the dire financial situation in Italy caused a mass sell-off across all European markets. The same worries also dampened sentiment in the US, with the three Wall Street benchmarks dropping
Read moreLondon midday: Financials take a hit as Italian bond yields jump
9th Nov 2011 12:14
Despite a modest start, the Footsie took a tumble during morning trade and stood at its lowest levels of the day by lunchtime, as the focus turned to Italy's soaring borrowing costs. Financials were leading the decline on the blue chip index. ITALIAN BOND YIELDS KEEP ON RISING Yields on benchmark
Read moreFriday newspaper round-up: Interest rates, referendum, pensions, BT
4th Nov 2011 06:36
In a speech on Thursday, Barclays chief executive Bob Diamond gave his strongest endorsement yet of the government's economic policy, saying it had saved Britain from having to pay far higher rates to borrow on international markets."I know it's oversimplified, but if the UK government had to pay 6%
Read moreLondon open: Footsie heads lower as G20 heats up
3rd Nov 2011 09:08
BThe Footsie fell lower on Thursday morning, with investors keeping a cautious eye on developments in the Eurozone, as the G20 Summit begins to heat up in Cannes. GREEK ROWS ONGOING It's now make-or-break time for Greek prime minister George Papandreou, after German chancellor Angela Merkel and Fr
Read moreLondon close: Footsie drops on fresh concerns for Greece
1st Nov 2011 16:47
With a surprise referendum vote on the Greek bail-out announced, a mass sell-off was seen in stock markets across the globe on Tuesday, not helped by some worrying manufacturing data at home and away. The Footsie may have finished some 78 points off its intraday lows, but that wasn't enough to pul
Read moreFTSE 100 Movers: Man Group leads the way lower
1st Nov 2011 13:57
Man Group was heading lower despite Credit Suisse reiterating its outperform rating and 235p target on the stock. The stock has been contaminated by association with its former subsidiary, US futures broker MF Global, which applied for bankruptcy yesterday. Barclays was close behind after UBS downg
Read moreBroker tips: Barclays, M&S, 888
1st Nov 2011 12:57
After factoring in a target price upgrade, UBS has downgraded its rating for Barclays from buy to neutral, saying that the upside is now more modest. "Post Q3, we have modestly upgraded our full year estimates (+2%) but subsequent years are broadly unchanged. While we exclude the pension fund defic
Read moreLondon midday: Mass sell-off on Greek default risks
1st Nov 2011 12:02
News that Greece is to hold a referendum on its latest bailout package and some worrying economic data at home and away rattled the markets on Tuesday, with the Footsie dropping close to 3%, while other European benchmarks fell by between 4% and 5%. GREEK REFERENDUM SCARES MARKETS The decision by
Read moreBroker snap: UBS downgrades Barclays to neutral
1st Nov 2011 11:05
After factoring in a target price upgrade, UBS has downgraded its rating for Barclays from buy to neutral, saying that the upside is now more modest. "Post Q3, we have modestly upgraded our full year estimates (+2%) but subsequent years are broadly unchanged. While we exclude the pension fund defic
Read moreUPDATE: Tuesday broker round-up
1st Nov 2011 09:33
Man Group: Credit Suisse reiterates outperform rating and 235p target. Barclays: UBS downgrades from buy to neutral, target raised from 208p to 215p. Barclays: Investec keeps buy rating and 330p target. Legal & General: Nomura keeps buy rating and 180p target. Legal & General: Investec keeps sel
Read moreLondon open: Greek referendum rattles Footsie
1st Nov 2011 09:12
The Footsie lost a further 2% on Tuesday morning on the news that Greece is to hold a referendum on the latest bailout announced last week. The decision by George Papandreou, the Greek Prime Minister, to hold a referendum on the details of the Greek bailout tortuously negotiated by Eurozone leaders
Read moreTuesday newspaper round-up: Greece referendum, UK banks, recession
1st Nov 2011 06:23
"Greece threw the Eurozone into fresh turmoil last night by announcing that it would allow voters the chance to reject the emergency bailout package agreed in Brussels last week. George Papandreou, the Greek Prime Minister, stunned European capitals by saying that he would hold a referendum on the d
Read moreLondon close: Miners plummet, Footsie drops 2.8%
31st Oct 2011 16:33
London's blue chips registered an average fall of 2.77% on Monday as a steep sell-off in the heavyweight mining sector dragged the Footsie down to 5,544, 158 points off Friday's close of 5,702. Just three stocks finished the day with gains. The steady decline continued following a dreary start on W
Read moreFTSE 100 Movers: Banks and miners drag index lower
31st Oct 2011 14:23
Shire was performing well after Credit Suisse reiterated its outperform recommendation and 2,350p target on the stock. Barclays remains in the red, despite a generally favourable reception to its third quarter figures, as banks dragged the index lower. Nomura has reiterated its buy call on banki
Read moreLondon midday: Miners tumble as Japan intervenes
31st Oct 2011 12:15
The miners dragged the Footsie over 1% lower by midday after Japan's intervention into the currency markets and Chinese demand worries spurred a fall in commodity prices. London's blue chip index remains firmly in the red at the 5,641 mark, down from Friday's close of 5,702. In economic news, the g
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