Broker 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
Read moreBanking Commission will consider bank splits
24th Sep 2010 08:00
A new body set up to examine how to improve stability and competiveness in the banking industry will ask 'hard questions' about how Britain's banks operate, its chairman said today in its first issue paper. The Independent Commission on Banking (ICB), which is chaired by economist Sir John Vickers,
Read moreHSBC chief to stand down in major shake-up
24th Sep 2010 07:17
A major shake-up of HSBC's senior management is on the way with chief executive Michael Geoghegan set to quit by the year-end and finance director Douglas Flint to take over as chairman. Stuart Gulliver, the head of the bank's investment division, will become chief executive after a week of boardro
Read moreLondon close: Stocks close lower as rally fizzles out
22nd Sep 2010 17:00
Footsie gave up a brief rally to close in the red on an uncertain day's trading in the wake of Federal Reserve chairman Ben Bernanke's nervous comments on US economic prospects yesterday. Shares in the US moved lower despite having rallied earlier. Similar sentiments to those expressed by Bernank
Read moreLondon afternoon: Miners shore up Footsie
22nd Sep 2010 14:45
Leading shares made steady progress over the lunch time session returning the blue-chip index more or less back to where it finished overnight. Mining stocks are primarily responsible for the Footsie's level position, with industrial metal miners such as Antofagasta, Kazakhmys and Rio Tinto now do
Read moreLondon midday: Gold stocks shine in dull market
22nd Sep 2010 12:11
The market has been absorbed in interpreting smoke signals from the US and UK central banks today. In the US, the Federal Reserve left interest rates at just above 0% and said yesterday it expects the recovery to continue, but added "the pace of economic recovery is likely to be modest in the near-t
Read moreLondon open: Banks behind weak start
22nd Sep 2010 08:51
Reports that the government is mulling a new bank windfall tax has unsettled share prices this morning. Vince Cable, the Business Secretary, will say in a speech today that bankers present more of a threat to Britain than trade unions, adding that the corporate world is "murky" and that the capita
Read moreLondon open: Footsie makes small gains
21st Sep 2010 08:54
Footsie has opened higher encouraged by yesterday's 145-point surge on Wall Street and some bullish company news. Online betting exchange Betfair must think the recent rally is sustainable. It is to take a punt on the market's appetite for new issues and float in London. No pricing details accompan
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