London afternoon: No sign of rally yet
11th Aug 2010 13:57
Expectations of a weak start on Wall Street have put the kybosh on any hopes of a recovery in London over the lunch time session, after leading shares endured a tough morning in the wake of downbeat statements from the Federal Reserve (last night) and the Bank of England (this morning). The Bank of
Read moreAxe to fall on BarCap staff
11th Aug 2010 11:59
The investment banking business of Barclays is preparing to sack several hundred staff in reaction to a sharp downturn in activity during the second quarter. Back office and administration jobs at Barclays Capital (BarCap) are most likely to disappear, people close to the action have said. Numbers
Read moreWednesday newspaper round-up: US economy, Barclays, Online fraud
11th Aug 2010 06:38
The Federal Reserve warned last night that America's recovery was losing steam as it announced a shift in its economic stimulus programme. The American central bank said that it would re-invest money from its portfolio of maturing mortgage bonds into longer-term government debt in an effort to sup
Read moreFTSE 100 movers: Schroders moves higher
9th Aug 2010 15:31
The rising stock market and last week's strong interim figures have made fund manager Schroders the best performer in the Footsie. Funds under management were £164bn at the end of June 2010, up from £148.4bn at the end of 2009. Legal & General and Barclays - the shares go ex-dividend on Wednesday
Read moreFriday newspaper round-up: Royal Bank of Scotland, Wheat, Barclays
6th Aug 2010 06:32
Royal Bank of Scotland is today expected to announce the sale of the UK's leading credit card payment processing business to private equity in a £2bn ($3.18bn) deal expected to generate an £800m to £900m book gain. People close to the transaction said RBS hoped to announce the sale of its Global Me
Read moreLondon close: Footsie finishes lower
5th Aug 2010 16:56
Blue chips closed lower on a mixed day for company results. Insurers rose on the back of figures from Aviva and RSA, but banks slipped back on Barclays' numbers. Disappointing unemployment data from the US also undermined confidence, while the decision from the Bank of England and ECB to keep inter
Read moreLondon afternoon: Insurers in demand
5th Aug 2010 14:23
Company results have divided opinion in the market today leaving the FTSE 100 in a mixed-up mood, while second-liners make decisive headway. Insurers are doing their bit to push the market higher with Aviva and RSA Insurance both firmer after releasing figures. Aviva reported a better-than-expect
Read moreLondon midday: Footsie stays strong after rally
5th Aug 2010 12:32
Footsie seems to have stabilised in positive territory amid a mixed reception for today's deluge of company updates. There were no surprises from the Bank of England today as its Monetary Policy Committee kept rates on hold at 0.5%. Insurer Aviva is currently the best performer after it reported a
Read moreLondon open: Shares drop amid flood of results
5th Aug 2010 08:20
London's blue chips are slightly lower as investors consider a mixed bag of corporate results on what is set to be one of the busiest days of the year. Cobham is leading the fallers, down more than 6%, after the defence and aerospace products group saw pre-tax profits fall in the half year to June
Read moreLondon pre-open: Hesitant step forward expected
5th Aug 2010 07:34
On what is set to be one of the busiest days of the year for big company announcements London is poised to open moderately firmer, with the FTSE 100 index tipped by City traders to open around 14 points higher. Banking giant Barclays reported a 44% rise in first half pre-tax profits as profits at t
Read moreBarclays gets boost from BarCap
5th Aug 2010 07:02
Barclays reported a 44% rise in first half pre-tax profits as a 225% profit jump at its investment banking arm, Barclays Capital, was partially offset by an increase in impairments in Barclays Corporate in Spain. Pre-tax profit rose to £3.95bn in the first half of 2010 compared with £2.75bn last t
Read moreThursday preview: Barclays, Aviva, RSA, BoE rate decision
4th Aug 2010 17:32
On what may well be the busiest day of the year for company results the likes of Aviva, Barclays, Cobham, Randgold Resources, Rio Tinto, RSA Insurance, Schroders, Smith & Nephew and Unilever will be wrestling each other for prominent coverage. Investment analysts will be waiting to see whether Barc
Read moreSantander nears RBS branch buy
3rd Aug 2010 11:40
Spanish bank Santander is expanding its overseas empire with the acquisition of 318 branches being sold by government-owned Royal Bank of Scotland (RBS). The sale, thought likely to make about £2bn, is part of a deal agreed with the European Commission as RBS's punishment for borrowing billions fro
Read moreSociete Generale To Become UK Gilt Primary Dealer
2nd Aug 2010 16:21
LONDON (Dow Jones)--French bank Societe Generale SA will become a primary dealer of U.K. government bonds, known as gilts, from September 1, 2010, the bank said Monday. Societe Generale will now participate directly in gilt auctions and take an active role in the issuance, distribution and marke
Read moreUPDATE: European Buyouts Power Ahead On Pass-the-Parcel Deals
2nd Aug 2010 16:11
(Adds detail.) By Marietta Cauchi Of DOW JONES NEWSWIRES LONDON (Dow Jones)--European private equity buyouts continue to gather steam, with activity fueled by a string of "pass-the-parcel" deals in which private equity firms sell on to each other rather than trade buyers or to the public
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