London close: Footsie weakness continues
27th Jan 2010 17:00
Shares continued their weak run of recent days, with the FTSE 100 ending the day deep in the red. Mining stocks fell on enduring concerns that the Chinese authorities will introduce further measures aimed at cooling down the country's overheating economy. Xstrata, Fresnillo and Anglo American are t
Read moreLondon afternoon: Stocks stuck in reverse
27th Jan 2010 13:38
London's attempts at a rally fizzled out over the lunch time session though the Footsie is trying once more at the mid-afternoon point to climb the mountain. Mining stocks continue to impede the blue-chip index's progress, however, on enduring concerns that the Chinese authorities will introduce f
Read moreBankers line up to slam 'over-regulation'
27th Jan 2010 13:37
World bankers presented a united front in condemning moves to regulate the industry further with chief after chief stepping up at the World Economic Forum in Davos to slam planned bank reforms. Bob Diamond, Barclays president and head of its investment bank BarCap, led the assault. "If you say th
Read moreHSBC chairman attacks bank bonuses
26th Jan 2010 13:03
HSBC chairman Stephen Green has hit out at 'distorted' banker's bonuses and predicts pay-outs will be lower in future. 'In banks' remuneration, there's been plenty of distortion,' he said in an interview with the Financial Times. 'You've had bonuses paid off gross income, you've had bonuses paid of
Read moreLondon close: Downward drift continues
25th Jan 2010 16:33
Nervousness returned to the markets after an indecisive start, sending Footsie to another day of losses on top of last week's slump. British American Tobacco, National Grid, GlaxoSmithKline and Scottish & Southern Energy were among the fallers. Miners were also hit, with ENRC, Anglo American and R
Read moreLondon afternoon: Shares drift lower
25th Jan 2010 16:04
Nervousness has returned to the markets following an indecisive start to the day. The UK's leading index has suffered further losses after last week's 200 point slump as investors discussed the potential impact of President Obama's new bank controls. US shares fell heavily last week on the shock
Read moreLondon midday: Footsie holding on
25th Jan 2010 12:22
London continues to trade just above 5,300 thanks to financials and mining plays, although defensive issues are proving a drag. The UK's leading index slumped 200 points last week as investors discussed the potential impact of President Obama's new bank controls. But it appears there's a feeling t
Read moreSector movers: Banks bounce back
25th Jan 2010 11:07
Banks are one of the strongest sectors after recovering from a shaky start. Continuing fears over the potential impact of President Obama's new bank controls weighed on the UK sector in early dealings, with additional fears that a new chunk of fund raising could be on the cards to meet tougher new
Read moreGoldman bankers cap pay at £1m
25th Jan 2010 08:25
Goldman Sachs is capping the total pay of its top 100 employees in London at £1m in an effort to appease the British government, keen to try and rein in bankers' salaries. The Wall Street bank's most senior staff over here are exercising restraint in response to calls from chancellor Alistair Darli
Read moreLondon close: Banks lead third day of declines
22nd Jan 2010 16:36
Footsie rallied off its low but still finished in the red for the third day in succession on worries over US President Obama's bank bashing policies. Comments from Prime Minister Gordon Brown's spokesman that appeared to lend support to President Obama's hard line stance against excessive risk tak
Read moreLondon afternoon: Stocks slide as Brown sides with Obama
22nd Jan 2010 14:43
Barely more than a dozen FTSE 100 constituents are showing rises as the market looks set to slide for the third day in succession, after dipping sharply following comments from Prime Minister Gordon Brown's spokesman that appeared to lend support to President Obama's hard line stance against excessi
Read moreLondon midday: Banks and shops drag Footsie lower
22nd Jan 2010 12:15
Footsie has turned down sharply with retailers joining banks in the doldrums after some subdued sales data from December. Retail sales volumes rose by much less than expected in December, as price rises kept the UK consumer away from the shops over the Christmas period. Sales were up by 0.3% from
Read moreBanks fall on Obama proposals
22nd Jan 2010 10:51
Shares in UK and European banks took a bashing Friday, in line with their US peers, as analysts considered the possible impact of US president Obama's tough series of measures to curb risk taking on Wall St. Royal Bank of Scotland, and Barclays, Deutsche Bank, BNP Paribas, Societe Generale and UBS
Read moreLondon open: Banks in early drop
22nd Jan 2010 08:11
Banking shares are dragging London's top stocks lower in early dealings on Friday, after President Obama revealed tough new measures to curb risk-taking among the big Wall Street banks. Obama proposed rules to limit bank mergers and consolidation, while also restricting involvement in hedge funds,
Read moreLondon close: Banks and miners drag Footsie lower
21st Jan 2010 16:30
Leading UK shares lurched lower in the afternoon as US shares weakened and investors waited nervously for President Obama's new bank reforms. The US President's proposals prohibit commercial banks from owning or investing in hedge funds or owning, investing or advising private equity funds, while a
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