FTSE 100 movers: AstraZeneca disappointment
17th Dec 2010 12:58
AstraZeneca is the worst performer in the Footsie because the FDA has asked for more information about blood-thinning drug Brilinta. This represents a further delay is getting US approval for Brilinta. Gloomy comments by the Bank of England about potential bad debt provisions hit Royal Bank of Sco
Read moreLondon midday: Stocks retreat
17th Dec 2010 12:49
The leading index broke above 5,900 for a short time, but now finds itself stuck in the red as AstraZeneca and the banks offset gains in the property sector. The Bank of England has warned of more bad debt provisions for the banks and also expressed serious concerns for the bond markets if yields c
Read moreBarclays brings forward Diamond promotion
17th Dec 2010 11:27
Bob Diamond, one of the City's best-paid bankers, will take over as chief executive at Barclays on 1 January, three months earlier than planned. The current head of the company's investment banking arm, Barclays Capital (BarCap), was confirmed as the replacement for John Varley, who had planned to
Read moreLondon open: Flat start for blue chips
17th Dec 2010 08:43
London has started slowly despite the late gains on Wall Street overnight with some gloomy comments from the Bank of England unsettling the mood. The Bank warned of more bad debt provisions for the banks and also expressed serious concerns for the bond markets if yields continued to rise. Lloyds an
Read moreBanks must retain more profits BoE warns
17th Dec 2010 08:27
UK banks should prepare for more financial turbulence ahead, especially in the eurozone, by retaining more profits, the Bank of England's latest financial stability report suggests. The Bank warns that the strong links between the UK and Europe would mean a knock on effect on British banks throug
Read moreFTSE 100 movers: Simon lays out offer for Capital Shopping
15th Dec 2010 13:49
Simon Property has written to Capital Shopping Centres (CSC), today's top riser in the FTSE 100, outlining an indicative proposal worth 425p a share in cash, or almost £3bn, from US mall owner Simon Proeprty Group. CSC points out that any bid is subject to financing. The CSC board is meeting today.
Read moreLondon open: Blue chips head lower
15th Dec 2010 08:58
Late weakness on Wall Street has caused an an early slip in London despite a bid for Capital Shopping and more drilling success for BG. Simon Property has written to Capital Shopping Centres (CSC) outlining an indicative proposal worth 425p a share in cash, or almost £3bn. US mall owner Simon, wh
Read moreDiamond family fund sinks £1m into Barclays
13th Dec 2010 16:30
Bob Diamond's family trust has invested nearly £1m in Barclays shares. The Barclays chief executive elect is a connected person to the Diamond Family Foundation, which has bought 363,179 shares at an average price of 273.97p a share. The total cost was £995,000. Diamond, who takes over as chief
Read moreLondon close: Footsie clings to lead
9th Dec 2010 16:40
A weak morning session on Wall Street did London no favours Thursday, although the big banks helped the leading index to only its second close above 5,800 in over three weeks. Barclays, Lloyds and Royal Bank of Scotland were top of the pile. HSBC also did well, but fellow Asia-focused player Stand
Read moreLondon afternoon: Banks help index advance
9th Dec 2010 14:42
A mostly better banking sector, gains for some of the mining heavyweights and a decent start on Wall Street are offsetting losses among the big retailers. Lloyds, Royal Bank of Scotland and Barclays are going well following a good session in overseas markets, though Asia-focused Standard Chartered
Read moreLondon midday: Footsie keeps climbing
7th Dec 2010 12:18
Footsie has been moving steadily upward as higher commodity prices boost resource stocks after a US tax cut extension improved optimism on global economic growth. US president Barack Obama has said that he will agree to a two-year extension on tax-cuts from the Bush era, while on this side of the A
Read moreLondon open: Blue chips firmer
7th Dec 2010 08:47
London's blue-chips have opened firmer with resources stocks in demand and a solid update from Tesco providing some encouragement for buyers. Miners and oil stocks lead the risers with the price of crude edging up towards the $90 per barrel mark. Essar, Fresnillo and Antofagasta are the best of the
Read moreLondon close: Market jumps 125 points
2nd Dec 2010 16:33
Blue chips staged an impressive late rally to finish more than 100 points higher for the second day running. There was no big bond repurchase programme today from the European Central Bank, but a decision to extend the current one for three months was enough to get buyers in a lather again. "We ex
Read moreFTSE 100 movers: TUI tops the list as profit grows
2nd Dec 2010 14:37
TUI Travel leads the risers Thursday after it increased underlying pre-tax profit by 4% to £337m during the year to September. Profit growth was driven by integration synergies, the recovery of scheduled flying losses in Germany and the strategic venture in Canada. Sage Group, the blue chip accoun
Read moreLondon afternoon: ECB inaction deflates market
2nd Dec 2010 14:28
The absence of any mention of plans to launch a bond purchase in the European Central Bank (ECB) press conference this afternoon has taken some of the glow off equities. "We expect the governments to follow what they are committed to, they all have their adjustment and stabilisation programmes," E
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