London afternoon: US retail sales setback
15th Feb 2011 14:30
Footsie moved into the red over the lunch time session after the release of disappointing US retail sales figures. US retail sales were up 0.3% in January, according to the Commerce Department, though they'd risen 0.5% the month before and were expected to do the same this time. Excluding autos,
Read moreBarclays proves it's good with numbers
15th Feb 2011 14:02
Barclays has increased profits by an impressive 32% and cut bonuses for all its staff, keeping analysts, shareholders, politicians and a banker-bashing public happy. The lender, helped through the financial crisis with Middle East cash rather than taxpayer's money, hit a five-month high Tuesday as
Read moreFTSE 100 movers: Barclays leads risers
15th Feb 2011 13:57
There was a positive reaction to Barclays' results and Lloyds and RBS have risen in sympathy. The bank has cut its staff bonuses by 7% even though profits jumped by a better than expected 32% as bad debt charges tumbled everywhere except Spain. Real estate investment trust British Land grew underl
Read moreLondon midday: FTSE 100 little changed
15th Feb 2011 12:09
Shares are still seeking direction in spite of some notable movements in both directions. Barclays has moved ahead after results. The bank has cut its staff bonuses by 7% even though profits jumped by a better than expected 32% as bad charges tumbled everywhere except Spain. Pre-tax profits in 2010
Read moreLondon open: Footsie marks time
15th Feb 2011 08:57
A limp performance in the US overnight and a tricky session in Asia this morning has resulted in London trading sideways in early dealings. Barclays has cut its staff bonuses by 7% even though profits jumped by a better than expected 32% as bad charges tumbled everywhere except Spain. Pre-tax profi
Read moreLondon pre-open: Footsie to pull back
15th Feb 2011 07:39
A limp performance in the US overnight and a tricky session in Asia this morning mean London is likely to slip back about a dozen points in early trade Tuesday. Barclays has cut its staff bonuses by 7% even though profits jumped by a better than expected 32% as bad charges tumbled everywhere except
Read moreBarclays tops £6bn as bonus payments fall
15th Feb 2011 07:04
Barclays cut its staff bonuses by 7% last year even though profits jumped by a better than expected 32% as bad charges tumbled everywhere except Spain. Pre-tax profits in 2010 rose to £6.1bn, up from £4.59bn, and well ahead of forecasts of about £5.5bn. The bank said the increase came despite "hist
Read moreTuesday newspaper round-up: China, Zynga, Barclays...
15th Feb 2011 06:35
Consumer prices in China rose 4.9% in January when compared with the same month a year earlier, the government reported Tuesday, as inflation remains a worry in the fast-growing major economy. The rise in prices was less than expected, but economists said that could have been a result of a move by
Read moreTuesday preview: Barclays, InterContinental Hotels, inflation
14th Feb 2011 16:48
Results from Barclays on Tuesday are as likely to feature on the front pages as they are on the City pages. Market consensus is for profit before tax for 2010 of £5.54bn, up from 2009's £4.59bn. Revenue is slated to rise to £30.25bn from £29.95bn in 2009. "The key trends in the third quarter resu
Read moreBarclays to cut cash bonuses
14th Feb 2011 15:50
Barclays kicks off the bank reporting season tomorrow and, if all the chat is to be believed, the cash element of bonuses for its wealthy traders will be slashed in favour of deferred payments. Investment arm Barclays Capital, until recently run by chief executive Bob Diamond, is thought to have cu
Read moreBarclays stops providing asset finance to smallest companies
14th Feb 2011 14:19
Barclays says that it will stop providing asset finance to firms with a turnover of less than £5m a year. This comes less than one week after Project Merlin the agreement between the main banks and the government which was supposed to secure additional lending to small businesses. Barclays, HSBC,
Read moreSunday newspaper round-up: Inflation, Barclays, BHP Billiton...
13th Feb 2011 11:14
Inflation is set to soar to 4% this week, increasing the chances of an early hike in interest rates and forcing the Bank of England to admit it has again underestimated the extent of rising prices. Economists expect the January inflation figures, unveiled on Tuesday, to show the Vat increase and ro
Read moreLondon close: Shares applaud Mubarak exit
11th Feb 2011 16:51
Shares rallied sharply in the afternoon following strong confidence figures from the US, but it was the announcement that Egyptian president Hosni Mubarak is stepping down that really stirred up excitement. One stock in particular reacted strongly to the announcement. Shares in gold miner Centamin
Read moreLondon afternoon: L&G leads modest advance
11th Feb 2011 14:11
Leading shares are mixed but with a slightly firmer bias after rising over the lunchtime session. Insurer Legal & General (L&G) leads the advance on the back of a positive broker note from Nomura Securities. "We highlight our preference for L&G over Prudential (Reduce), given that we expect Pru to
Read moreWeek Ahead: Barclays, Inflation, Unemployment
11th Feb 2011 10:58
It's a busy week on the company news and economic events fronts next week, with big hitters such as British Land, Barclays, InterContinental Hotels, BHP Billiton, BAE Systems and Reed Elsevier all updating the market, while economists will be waiting to pore over the Bank of England's quarterly infl
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