Sector movers: Banks rise on Ireland hopes
1st Apr 2011 14:57
Financial stocks are in demand today, with banks performing strongly following the Irish banking stress tests yesterday. Irish banks are unsurprisingly leading the way amid hopes the government's plans will keep the sector out of harm's way. Bank of Ireland is sharply higher. British banks such as
Read moreLondon afternoon: US jobs data provides fresh impetus
1st Apr 2011 14:28
The release of generally favourable US non-farm payrolls data has given London shares fresh impetus. Some disappointing factory data here has failed to dull investor appetite. The March UK manufacturing Purchasing Managers Index PMI fell unexpectedly to 57.1 points, against consensus expectations f
Read moreLondon midday: Shares rise ahead of US jobs data.
1st Apr 2011 12:03
Shares have added to their early gains on hopes that jobs data from the US later today will fuel global economic optimism. Non-farm payroll numbers are due at 1.30pm. Some disappointing factory data here has failed to dull investor appetite. The March UK manufacturing Purchasing Managers Index PMI
Read moreLondon open: Shares win back gains
1st Apr 2011 08:34
Shares have got off to a decent start, clawing back some of the gains that came in late trading yesterday. Banks, which had been awaiting yesterday afternoon's banking stress test results nervously, are leading the way today, with Barclays, Lloyds and RBS posting good gains. In other news, Marks
Read moreThursday newspaper round-up: M&A rebound, Lloyds, Barclays
31st Mar 2011 06:04
US companies have returned to large strategic deal-making, helping to boost global mergers and acquisitions activity by 26% in the first quarter. Thanks to a flurry of big deals, US M&A activity jumped 84 per cent to $267bn in the first three months of the year, compared to the same period in 2010.
Read moreFriday newspaper round-up: BP, Barclays, Aviva...
25th Mar 2011 06:24
BP's $16bn joint venture with Rosneft was blocked last night in a ruling that has thrown the company's growth strategy into turmoil. A judgment by independent arbitrators that the deal cannot progress is hugely embarrassing for Robert Dudley, BP's chief executive, since he personally negotiated it
Read moreBudget preview: Leaving on a jet plane ... or not
22nd Mar 2011 19:14
For his second Budget speech Chancellor George Osborne has promised a finance bill that is "unashamedly pro-growth, pro-enterprise and pro-aspiration," as he seeks to move the UK economy from rescue mode to reform mode. Mindful of headline writers preparing to accuse him of pandering to "fat cats"
Read moreTuesday newspaper round-up: Power suppliers, Budget...
22nd Mar 2011 06:31
The Big Six household energy suppliers have been spared an industry-wide Competition Commission investigation, despite Ofgem finding evidence that they may be profiteering, manipulating their own figures and misleading consumers. Alistair Buchanan, Ofgem's chief executive, said: "Energy companies h
Read moreLondon close: Stocks hold on to gains
21st Mar 2011 16:17
The FTSE 100 remained broadly flat since 0900, holding on to gains made in early trading. Sentiment was boosted by signs of progress being made in the handling of the nuclear crisis. Two reactors at the Fukushima Daiichi nuclear power plant in Japan were successfully brought into cold shut down unde
Read moreFTSE 100 movers: Barclays sells mortgage assets
21st Mar 2011 13:44
Barclays has sold a portfolio of property loans to CreXus Investment Corp, a commercial mortgage REIT, for $586m in cash. CreXus needs to sell shares to raise money via a share issue in order to buy the 30 commercial real estate assets. CreXus is managed by a subsidiary of Annaly Capital Managemen
Read moreSunday newspaper round-up: Barclays, Budget, Punch...
20th Mar 2011 08:59
Barclays has warned the Treasury against breaking up banks in a thinly veiled threat that it may move its headquarters to America. John Varley, the bank's former chief executive and its lead adviser on government affairs, held a tense meeting with officials last week. It was one of a series of priv
Read moreMore banks subpoenaed over LIBOR manipulation
17th Mar 2011 12:26
US regulator, the Securities and Exchange Commission (SEC) has handed out subpoenas to more banks over alleged manipulation of the LIBOR rate, the wholesale rate at which banks lend to each other. Barclays, Citigroup and Bank of America are now being investigated by US regulators - as well as autho
Read moreSector movers: Alternative energy is wanted as nuclear crisis continues
16th Mar 2011 15:43
The alternative energy sector is the best performing sector for the third consecutive day, as the problems in Japan continue to have a positive effect on shares. The sector has risen almost 14% over the last week. Workers had to be evacuated from the stricken Fukushima Dai-ichi nuclear plant after
Read moreLondon close: Shares fall back as oil rallies
9th Mar 2011 16:53
A drop in the oil price failed to gain ground as the Libya violence continued, sending shares firmly into the red. Attacks against rebel-held towns in western Libya continued, helping oil prices to win back some recent losses. Traders are worried that violence could erupt in other oil-producing Ar
Read moreLondon afternoon: Downward drift continues
9th Mar 2011 14:16
Blue-chip shares drifted lower still over the lunchtime session though a number of bright spots can be found, particularly among second liners. Insurer Prudential is in demand after saying it made 20% more in 2010 than it did the year before as Asia raced ahead of the US as the UK company's bigges
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