London midday: FTSE 100 seeking direction
9th Mar 2011 12:02
Shares are moving in both directions after updates, but the FTSE 100 sits a few points lower. 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 biggest earner. Group operating profit before tax on a Eu
Read moreCredit Suisse prefers UK banks
9th Mar 2011 08:56
Credit Suisse has downgraded European banks to benchmark from a small overweight position in the second half of 2010, instead preferring UK lenders like HSBC and Barclays. It thinks Continental European banks could be hurt by an ECB policy "error" - a rate rise in April - and significant uncertaint
Read moreLondon open: Early falls despite Pru show of strength
9th Mar 2011 08:43
London has slipped lower in early dealings, despite good numbers from Prudential and a strong performance on Wall Street overnight as oil prices fell back. Insurer Prudential made 20% more in 2010 than it did the year before as Asia raced ahead of the US as the UK company's biggest earner. Group o
Read moreTuesday newspaper round-up: Oil prices, Barclays, Pension reform...
8th Mar 2011 06:38
The conflict in Libya helped propel the price of oil towards $120 a barrel on Monday as forces loyal to Col Muammar Gaddafi and rebels trying to overthrow his regime formed a front line around the strategic oil town of Ras Lanuf. Saudi Arabian political activists have also added to energy fears wi
Read moreBarclays chief trousers £6.5m bonus
7th Mar 2011 12:46
Bob Diamond, chief executive of Barclays, has been awarded a £6.5m bonus for his work in 2010. The former head of investment banking arm Barclays Capital, who replaced John Varley on 1 January, will get £1.8m in shares plus £4.7m of deferred shares. That's on top of his £250,000 a year salary. A £
Read moreLondon close: Shares in late dive as Mideast worries resurface
1st Mar 2011 16:43
The spectre of higher oil prices sent a chill down traders' spines late in the afternoon, sending shares plummeting into the red. The turmoil in the Arab World is behind the spike in crude, with a barrel for April delivery rallying towards $100 in New York. Worries over the possibility of protests
Read moreLondon afternoon: Hard going for Footsie
1st Mar 2011 14:53
It's proving a struggle in London with not long to go until the close, as Wall Street fails to inject much excitement and miners either see gains trimmed or disappear completely. Aerospace and vehicles engineer GKN has few friends. It bounced back into the black last year as all divisions bar aeros
Read moreLondon midday: FTSE 100 gives up gains
1st Mar 2011 12:07
The top share index is flat after giving up early gains, while company updates in the FTSE 250 have sparked big moves in both directions. Capita is the best performer in the FTSE 100 after the outsourcing group said it was in talks with Zurich about performing some administrative tasks for the ins
Read moreLondon open: Miners lift Footsie
1st Mar 2011 08:50
Overnight gains on Wall Street and an improvement in Asia this morning have propelled London higher first thing Tuesday. Copper miners Antofagasta and Kazakhmys are the best performers so far. CD and computer games retailer HMV has issued another profits warning and begun talks with its banks abou
Read moreLondon pre-open: Footsie to retake 6,000
1st Mar 2011 07:36
Overnight gains on Wall Street and an improvement in Asia this morning look set to propel London higher first thing Tuesday. News that billionaire investor Warren Buffett is on the lookout for major acquisitions helped push the Dow Jones up 95 points yesterday. The FTSE 100 is expected to react
Read moreBarclays shells out for Egg
1st Mar 2011 07:21
Banking giant Barclays is to buy the UK credit card assets of Egg, the online bank owned by Citigroup, for an undisclosed sum. The acquired business has around 1.15m credit card accounts with some £2.3bn of gross receivables. "The acquisition of Egg's UK credit card accounts has been priced at a
Read moreThursday newspaper round-up: Lloyds, RBS, JJB, $220-a-barrel oil
24th Feb 2011 06:27
Qatar, the natural gas-rich Middle Eastern state which owns stakes in Barclays and Sainsbury's, could invest in Lloyds and Royal Bank of Scotland, the banking groups part-nationalised at the height of the financial crisis. The Treasury owns about 83% of RBS and about 40% of Lloyds, with the stakes m
Read moreLondon close: Shares slump as Libya worries linger
23rd Feb 2011 16:52
More weakness in the US helped send shares in London sharply lower, with the Libyan crisis and the consequent higher oil price weighing on sentiment. Brent crude for April delivery surged to more than $109 per barrel shortly after 2pm, though it has dipped down below $109 again since then. The $3+
Read moreLondon afternoon: Oil lubricates slippery slope
23rd Feb 2011 14:22
An attempted rally in the morning was already fizzling out as the afternoon started, and prices continued to drift lower over the lunchtime trading session, as investors continue to fret about the higher oil price. Brent crude for April delivery surged to more than $109 per barrel shortly after 2pm
Read moreBarclays sees off $11bn Lehman lawsuit
23rd Feb 2011 11:34
A New York judge has thrown out an attempt to sue Barclays for $11bn (£6.8bn) over the way it bought Lehman Brothers at the height of the credit crunch. Lawyers overseeing the Lehman bankruptcy estate accused the British bank of taking advantage of the chaos sparked by the financial crisis to snap
Read more