US analyst warns against punishing banks
6th Sep 2011 15:25
Banking reforms being driven through by the US government could force the country into a recession, according to analyst Dick Bove. His warning follows news that the Federal Housing Finance Agency is to sue 17 banks over sub-prime mortgage lending, including Royal Bank of Scotland, Barclays and HSB
Read moreFTSE 100 Movers: Whitbread pulls the index north
6th Sep 2011 14:09
Coffee shop, restaurant and hotel owner Whitbread boosted its share price after accelerating revenue growth during the first half, posting a 12.9% improvement in sales in the second quarter, up from a 9.2% increase in the first three months of the year. On a like-for-like basis, sales rose 4.8% in
Read moreLondon close: Another slide for FTSE 100
5th Sep 2011 16:48
Stocks were on the slide Monday, giving up many of last week's gains, with banks bearing the brunt of the selling. Bank shares fell back after a report that the ratings agency Moody's is set to lower its ratings on Lloyds, RBS and other British banks. Sky News reported over the weekend that Moody's
Read moreSector movers: Banks hit by US sub-prime lawsuit
5th Sep 2011 16:01
The banks were among the heaviest fallers on Monday on the back of concerns over the multi-billion pound legal case regarding the subprime mortgage crisis in the US. There were no sectors in the blue as London suffered a steep sell-off. There was speculation that the 17 banks being sued could be se
Read moreLondon midday: FTSE 100 slumps as RBS and Lloyds slide
5th Sep 2011 12:19
London's leading share index is firmly in negative territory, with banks and retailers coming in for some heavy selling. Shares in banks fell back after a report that the ratings agency Moody's is set to lower its ratings on Lloyds, RBS and other British banks. Sky News reported over the weekend t
Read moreMoody's downgrade report hits UK banks
5th Sep 2011 10:43
Shares in banks fell back after a report that the ratings agency Moody's is set to lower its ratings on Lloyds, RBS and other British banks. Sky News reported over the weekend that Moody's is awaiting the Independent Commission on Banking's (ICB) report on September 12, which is expected to recomme
Read moreLondon open: Banks take a hit in early trade
5th Sep 2011 08:38
The FTSE 100 opened up nearly 2% down with the banks falling heavily in early trading. The dive follows a tumble on Wall Street on Friday and Asia on Monday on the back of concerns over the global economy, as US payrolls were worse than expected. Meanwhile, Christine Largarde, the head of the Inte
Read moreLondon close: Footsie tumbles over 2%
2nd Sep 2011 16:30
The Footsie finished over 2% down on Friday, as London was not immune from the global sell-off, meaning that just eight out of the 100 blue chips stocks closed in the blue. After a poor start in early trade, sentiment was dampened after a worse-than-expected jobs report in the US which showed that n
Read moreFTSE 100 Movers: Barclays and RBS take a knock
2nd Sep 2011 12:48
Barclays' share price was heading south despite an upgrade from 'neutral' to 'buy' from stock broker UBS. The broker highlighted "substantial potential value in Barclays if the proposals from the ICB [Independent Commission on Banking] did not precipitate a sharp near-term funding cost as a result
Read moreBroker tips: Barclays, IPR, Go-Ahead
2nd Sep 2011 11:17
Delays to the Independent Commission on Banking's (ICB's) proposal to ringfence banks have prompted UBS to upgrade UK lender Barclays from neutral to buy. The broker highlighted "substantial potential value in Barclays if the proposals from the ICB did not precipitate a sharp near-term funding cost
Read moreBroker snap: Ringfencing risk not immediate, UBS upgrades Barclays to buy
2nd Sep 2011 11:06
Delays to the Independent Commission on Banking's (ICB's) proposal to ringfence banks have prompted UBS to upgrade UK lender Barclays from neutral to buy. The broker highlighted "substantial potential value in Barclays if the proposals from the ICB did not precipitate a sharp near-term funding cost
Read moreFriday newspaper round-up: LSE, central banks, BP
2nd Sep 2011 06:24
The London Stock Exchange has re-opened talks to buy the Anglo-French clearing house LCH Clearnet in an attempt to protect itself against predators. The exchange, which was forced to abandon a transatlantic takeover of Toronto's TMX in June, has made a non-binding offer to buy a majority stake in L
Read moreLondon close: Stocks close higher after choppy day
1st Sep 2011 16:39
The FTSE 100 finished in the blue having flitted between positive and negative territory for much of the day. Wealth manager Hargreaves Lansdown was the star performer after its results. Assets under administration climbed 41% in the year ended 30 June. The wealth management firm hiked its dividen
Read moreFTSE 100 movers: Banks up, miners down
1st Sep 2011 14:24
Wealth manager Hargreaves Lansdown has raced ahead. Assets under administration climbed 41% in the year ended 30 June. The wealth management firm hiked its dividend by nearly 60%. Elsewhere in finance, RBS, Lloyds and Barclays have powered forward, buoyed by rumours that reform of the banking sect
Read moreLondon midday: FTSE 100 falls but RBS leads banking surge
1st Sep 2011 12:30
London's leading share index has drifted into the red following strong gains earlier in the week, but there are still some notable risers. Wealth manager Hargreaves Lansdown has raced ahead. Assets under administration climbed 41% in the year ended 30 June. The wealth management firm hiked its div
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