Lloyds trims 2009 loss
26th Feb 2010 07:02
Lloyds Banking joined sector peers Barclays and Royal Bank of Scotland in reporting better than expected full-year figures. The part-nationalised lender reported a pre-tax loss of £6.3bn in the year ended 31 December compared with £6.71bn last time. Total income rose to £23.96bn from £21.36bn last
Read moreHSBC to scrap pay rise for CEO
24th Feb 2010 09:30
HSBC, Britain's biggest bank, is expected to scrap a pay rise of almost 40% for its chief executive Michael Geoghegan following shareholder protests. The board will make a final decision on Friday, before HSBC publishes 2009 results on Monday, according to press reports. It is understood that the
Read moreLloyds Banking boss gives up bonus
22nd Feb 2010 16:52
Eric Daniels, chief executive officer of loss-making lender Lloyds Banking Group, has bowed to public pressure and waived his right to a bonus this year. Daniels, who was instrumental in driving through the disastrous merger with HBOS which saw the traditionally conservative Lloyds become contamina
Read moreLondon afternoon: Footsie falls as miners switch sides
3rd Feb 2010 14:32
Mining stocks headed south over the lunch time session, taking the blue-chip index with them. Antofagasta is the worst performer in the mining sector. The copper miner produced 442,500 tonnes of the red metal in 2009, ahead of its original forecast of 433,000 tonnes but lower than the 477,700 tonne
Read moreLondon midday: Merrills takes a shine to banks
3rd Feb 2010 12:08
Footsie ended the morning at an intra-day high, driven by a strong performance from financial stocks and miners. Standard Life is the top riser after it announced a 'significant increase' in flows and sales in the fourth quarter. Life and pensions net inflows more than tripled to £1.3bn from £0.4bn
Read moreLondon close: Strong finish for FTSE 100
29th Jan 2010 16:38
Footsie gave up a recent weak spell to finish the week with good gains. Whitbread was the star performer. Following an investor day yesterday, Barclays Capital raised its price target on the Costa Coffee and Premier Inn owner to 1,700p from 1,600p. The broker thinks Whitbread will benefit from new
Read moreFTSE 100 movers: Banks and miners recover
29th Jan 2010 15:34
The FTSE 100 index is recovering today with banks and miners leading the way. Negative broker comment has not hampered the banks. FBR Capital Markets has been running its rule over UK banks and has cut its price target for HSBC from 893p a share to 800p a share "to reflect a similar level of conse
Read moreLondon midday: RBS unit sued for $8bn
29th Jan 2010 12:10
After a mid-morning dip blue-chips are on the rise again, though it is not the sort of advance that is likely to change investors' view that January was a month to forget. For once, the miners are not moving in lock step with each other. Sector giants Rio Tinto and BHP Billiton are firmer, while go
Read moreLondon open: Footsie tries to break losing streak
29th Jan 2010 08:48
London's blue chips have kicked on this morning despite the bad night for tech stocks on Wall Street. Huge numbers from Microsoft after the US market closed did restore some calm, while a rally by the miners has helped Footsie reverse its recent losing trend. Rio Tinto and Randgold lead the way. A
Read moreFriday newspaper round-up: Bernanke, BP, Microsoft
29th Jan 2010 06:33
Ben Bernanke won a second term as Federal Reserve chairman following the closest-ever Senate vote for a US central bank head. The Senate voted 70-30 in favour of the 56-year-old economist's second four-year term at the helm of the Fed, despite accusations that Mr Bernanke's regulatory failures hel
Read moreLondon close: US slide drags down Footsie
28th Jan 2010 16:45
London slumped near the close mirroring heavy falls in the US where technology stocks ran into heavy selling seemingly on disappointment with Apple's new iPad. AstraZeneca led the fallers after the Anglo-Swedish pharmaceuticals firm saw fourth quarter earnings rise 10% but warned that its predicted
Read moreLondon afternoon: Banks lead rally
28th Jan 2010 14:31
Blue chips put on a spurt over the lunch time session despite drugs giant Astra issuing disappointing fourth quarter figures. The Anglo-Swedish pharmaceuticals firm saw fourth quarter earnings rise 10% but warned that its predicted 2010 revenues would be hit by the loss of exclusive rights to sell
Read moreSector movers: Drug sector off colour
28th Jan 2010 13:48
The pharmaceuticals sector fell back after AstraZeneca posted a 10% rise in fourth quarter earnings, but predicted 2010 revenues would be hit by the loss of exclusive rights to sell certain drugs. The company is also planning to cut 8,000 jobs from its global workforce of 63,000. While Astra falls
Read moreLondon midday: Footsie flat after mixed earnings news
28th Jan 2010 12:13
Blue chips are struggling to make headway in the face of mixed company news today. Pay TV and Internet service provider British Sky Broadcasting (BSkyB) is one of the best performers after it said it had a strong second quarter with revenues coming in marginally ahead of expectations. Turnover in
Read moreThursday newspaper round-up: HSBC, Barclays, Morrison
28th Jan 2010 05:58
Alistair Darling is to meet the chiefs of top British and American banks at a secret meeting in Davos tomorrow to hear their concerns about the introduction of tough new sanctions against the banking sector. The Times has learnt that the bosses of HSBC, Barclays and Standard Chartered, and top exec
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