London close: Footsie rallies but falls short
8th Oct 2010 16:37
Footsie made a late charge for positive territory ahead of the close, in line with buoyancy in the US, but fell just short. The positive performance in the US was in spite of non-farm payrolls declining 95,000 in September when they had been expected to remain virtually unchanged. The 'glass half f
Read moreLondon afternoon: Shares rally on QE hopes
8th Oct 2010 14:37
US jobless data proved to be much worse than expected, with non-farm payrolls declining 95,000 in September when they had been expected to remain virtually unchanged, but the 'glass half full' optimists have taken the view that this makes a resumption of economic stimulus by the Federal Reserve more
Read moreFTSE 100 movers: Broker changes move index
8th Oct 2010 13:18
Broker recommendations dominate the Footsie today. UBS has downgraded accountancy software supplier Sage from neutral to sell. Silver miner Fresnillo has also been downgraded, this time from neutral to underperform by Merrill Lynch. In contrast, HSBC has raised BAE Systems from neutral to overwe
Read moreLondon midday: Nervous wait for US jobs data
8th Oct 2010 12:25
The clock is ticking down on this afternoon's release of US non-farm payrolls data and the market is showing signs of nervousness, with the Footsie drifting back and in danger of slipping below 5600. Bank Barclays is down after PCP3, a vehicle linked to Man City owner Sheikh Mansour bin Zayed al-N
Read moreLondon open: Quiet start ahead of jobs data
8th Oct 2010 08:52
London has opened quietly as traders focus on the US where September's non-farm payrolls numbers are due to be released this afternoon. Expectations are for a 5,000 increase in non-farm payrolls, while the unemployment rate is expected to nudge up to 9.7% from 9.6% in August. Until those numbers a
Read moreMan City owner sells Barclays stake
8th Oct 2010 08:24
One of the Middle Eastern investors who helped save Barclays during the darkest days of the financial crisis has sold a large chunk of his stake in the British bank. In a statement issued after the end of play in London last night, the PCP Gulf Invest 3 fund said it had completed a complicated der
Read moreBroker tips: Barclays, Halfords, Mulberry
7th Oct 2010 12:45
Nomura Securities has reiterated its neutral stance on banking giant Barclays , arguing that the potential for a re-rating remains limited while the bank faces regulatory pressures in the form of the Basel III guidelines for capital and banking regulations. By Nomura's reckoning Barclays Capital, t
Read moreBroker snap: Barclays under a Basel III cloud
7th Oct 2010 12:42
Nomura Securities has reiterated its neutral stance on banking giant Barclays , arguing that the potential for a re-rating remains limited while the bank faces regulatory pressures in the form of the Basel III guidelines for capital and banking regulations. By Nomura's reckoning Barclays Capital, t
Read moreLondon open: Gains short-lived
4th Oct 2010 08:37
Renewed interest in the insurance sector and strong miners nudged London into positive territory, but Monday morning blues soon kicked in and stocks are now in the red. Reports in his morning's papers reveal RSA, Resolution, Switzerland's Zurich Financial Services and Germany's Allianz discussed mo
Read moreLloyds heads bank complaints list
30th Sep 2010 08:04
Lloyds accounted for more complaints than any other bank in the first half of the year, according to a list published by the City watchdog today. The part-nationalised bank received almost 289,000 grumbles from customers between January and June, 30,000 more than Barclays and 44,000 more than Sant
Read moreSector movers: Ireland worries hit banks again
29th Sep 2010 15:20
Banks are under pressure as worries over the European debt situation continue to plague the markets. Ireland is in the spotlight again amid speculation that that the cost of bailing out the nationalised bank Anglo Irish could rise to as much as €30bn (£25m). Unsurprisingly, Irish banks listed here
Read moreBarclays has enough capital for Basel III requirements
29th Sep 2010 14:48
Stricter banking rules are likely to raise funding costs for banks, Bob Diamond, the boss of Barclays's investment banking arm, Barclays Capital, warned on Thursday. Diamond, who is due to take over as chief executive officer of Barclays when John Varley steps down, told the Bank of America Merrill
Read moreLondon close: Footsie rallies after shaky start
24th Sep 2010 16:50
The roller coaster ride continued heading into the weekend, with shares rallying to finish with good gains following a drop in the morning. Shares have been jittery for most of the week, with traders unsure how to react to Federal Reserve chairman Ben Bernanke's comments on the US economy on Tuesd
Read moreLondon midday: Miners do the damage
24th Sep 2010 12:05
It's been a rollercoaster morning for London's blue chips, although pretty much all the volatility has happened in negative territory as miners struggle. HSBC, little changed at lunchtime, has hogged the headlines. Reports suggest that current chief executive Mike Geohegan will leave at the end of
Read moreLondon open: Heavyweights drag Footsie lower
24th Sep 2010 08:57
Footsie has opened lower with the heavyweight sectors of banks and miners both heading south. Speculation over the power struggle at the top of global banking giant HSBC has dominated early proceedings in London. Reports suggest that current chief executive Mike Geohegan will leave at the end of th
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