UK Banks Hit With New Tax, But Escape Harsher Measures
22nd Jun 2010 17:29
By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. banks escaped new taxes on profits and remuneration, but a widely expected levy on their balance sheets that could provide an extra GBP2 billion a year to the government raised warnings from the sector, which said the U.K.
Read moreENI Prices EUR1B 2020 Bond At 99.83, Swaps +1.08
22nd Jun 2010 16:16
LONDON (Dow Jones)--Italian oil and gas company ENI SpA (ENI.MI) has priced its EUR1 billion, 2020-dated bond through joint lead-managers Banca IMI, Barclays PLC, BNP Paribas SA, ING Bank NV and UniCredit SpA, one of the banks said Tuesday. Terms are as follows: Amount: EUR1 billion M
Read moreMARKET TALK: UK Bank Levy Better Than Feared - Oriel
22nd Jun 2010 16:15
1515 GMT [Dow Jones] The newly-announced U.K. bank levy to raise roughly GBP2B is better than feared, says Oriel Securities analyst Mike Trippitt. Oriel sees Barclays (BCS) having a relatively large exposure because of its big balance sheet, with Standard Chartered (STAN.LN) and HSBC Holdings (HBC)
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
22nd Jun 2010 16:15
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1515 GMT [Dow Jones] The newly-announced U.K. bank levy to raise roughly GBP2B is better than feared, says Oriel Securities a
Read moreUK Bank Shares Gain Ground After Bank Levy News
22nd Jun 2010 15:22
By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. bank shares gained ground Tuesday after the government's widely expected levy on the sector proved to be lower than expected, although industry groups warned it could still make U.K. banks less competitive than their foreig
Read moreMARKET TALK: UK Bank, Retail Shrs Recoup Losses After Budget
22nd Jun 2010 14:49
1349 GMT [Dow Jones] Banking and retail stocks recoup losses and gain following the UK Budget Report. Traders note the levy on banks is less severe than had been expected. "The levy is set to raise as much as GBP2B [a year] when earlier estimations by the market were that it could be more aggressive
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS -2-
22nd Jun 2010 14:49
0639 GMT [Dow Jones] Bunds are higher Tuesday as China's forex move-fuelled risk rally fizzles out. Asian shares are trading lower and European equities are expected to follow suit. Attention will shift back to the troubles in the euro zone and its impact on the banking system, with Fitch Ratings Mo
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
22nd Jun 2010 14:49
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1349 GMT [Dow Jones] Banking and retail stocks recoup losses and gain following the UK Budget Report. Traders note the levy o
Read moreUK Bank Group Warns New Levy Could Make UK Less Competitive
22nd Jun 2010 13:50
By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The British Bankers' Association warned Tuesday that the U.K. government's move to impose a tax on banks could make the U.K. banking sector less competitive, and said it will work with authorities to ensure the levy won't affect
Read moreMARKET TALK: Banks Rise After Bank Levy Not As Bad As Feared
22nd Jun 2010 13:43
1243 GMT [Dow Jones] The FTSE 350 banks index comes off lows and Lloyds Banking Group storms higher, as the UK Chancellor brings his budget speech to a close. A trader says the bank levy announced in the budget will raise just GBP2bn a year, not upwards of GBP3B as had been speculated in some public
Read moreEffective Regulation, Not Tax, Key To Reducing Bank Risk-AFME
22nd Jun 2010 13:36
By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The Association for Financial Markets in Europe said Tuesday that while it welcomed more details on the tax that the U.K. government will impose on the banks, effective regulation remains the most important tool to avoid future
Read moreDeutsche Bank, Credit Suisse Top Prime Brokerage Survey
22nd Jun 2010 13:00
By Joseph Checkler and Amy Or Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Deutsche Bank AG (DB) and Credit Suisse Group (CS) tied as the best prime brokerages of 2009, according to an annual survey of hedge funds reviewed by Dow Jones Newswires. Global Custodian magazine's survey polle
Read moreUPDATE: ENI To Price EUR1B 10-Year Bond At Swaps +1.08
22nd Jun 2010 12:46
(Adds size, final pricing details.) By Mark Brown Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Italian oil and gas company ENI SpA will price its planned EUR1 billion, 10-year bond at 108 basis points over mid-swaps, one of the banks running the sale said Tuesday. Pricing will be a
Read moreENI 10-Year Bond Guidance Swaps +1.10, Plus Or Minus 0.02
22nd Jun 2010 11:32
LONDON (Dow Jones)--Italian oil and gas company ENI SpA has set guidance on its planned 10-year, euro-denominated, benchmark bond at 110 basis points over midswaps, plus or minus two basis points, one of the banks running the sale said Tuesday. Banca IMI, Barclays PLC, BNP Paribas SA, ING Bank N
Read moreENI Plans 10-Year Euro Benchmark Bond
22nd Jun 2010 09:25
LONDON (Dow Jones)--Italian oil and gas company ENI SpA is planning to issue a 10-year, euro-denominated, benchmark bond and has hired Banca IMI, Barclays PLC, BNP Paribas SA, ING Bank NV and UniCredit SpA to act as joint bookrunners, one of the banks said Tuesday. Order books are open and prici
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