Sunday newspaper round-up: Dubai, Yell, Banks
29th Nov 2009 12:08
Abu Dhabi is this weekend putting together a rescue package for Dubai, its debt-laden Gulf neighbour, in an attempt to restore calm in panicked international markets, according to the Sunday Times. The FT adds that Dubai's government is preparing a campaign to persuade the holders of a bond due for
Read moreLondon Close: Dubai worries knock market
26th Nov 2009 17:25
The London market wasn't helped by a technical glitch at the London Stock Exchange but it was never going to be a good day due to worries about the debt problems of Dubai. The fact that there was no trading for more than three hours just made investors even more nervous. The FTSE 100 fell by more
Read moreFTSE 100 movers: Dubai worries batter stocks
26th Nov 2009 14:26
London Stock Exchange is one of the heaviest fallers in the FTSE 100 after the exchange operator was forced to suspend trading for more than three hours following a technical hiccup this morning. It had already come in for selling ahead of the shutdown as analysts fretted over how the Dubai debt si
Read moreLondon afternoon: Trading resumes .. so does the decline
26th Nov 2009 14:18
Trading resumed on the London Stock Exchange at 2:00pm after the exchange's technical glitch, but prices are not looking any healthier than they were before the trading interruption. Banks are under the cosh on concerns over Dubai's debt situation. The government owned Dubai World, which has debts
Read moreSector movers: Banks and miners bear the brunt
26th Nov 2009 12:16
With no sectors in the blue today amid heavy falls in equity prices, banks and miners are among the worst performers. Banks are under the cosh on concerns over Dubai's debt situation. The government owned Dubai World, which has debts of $59bn, has asked creditors if it can delay debt repayments due
Read moreLondon close: FTSE 100 closes 32 points lower
24th Nov 2009 16:48
London ended the day in the red as the FTSE 100 lost its earlier gains after Wall Street opened sharply lower. London did not sustain a short-lived rally in the late afternoon. The market seemed to initially ignore Bank of England governor Mervyn King's cautious comments to the House of Commons Tr
Read moreLondon afternoon: Shares still drifting
24th Nov 2009 14:31
London continues to lack direction, with Bank of England governor Mervyn King's comments to the House of Commons Treasury select committee on the state of the economy having more of an effect on sterling than on share prices. With sterling dipping after King's comments, package holiday firms Thomas
Read moreLondon close: Footsie 100 points higher
23rd Nov 2009 16:37
Footsie closed more than 100 points higher on Monday thanks to a record price for gold, an early rally on Wall Street and strength across the financial sector. Gold has hit new highs, and that has led to sharp mark-ups in the price of gold miner Randgold and silver and gold miner Fresnillo. Elsewhe
Read moreLondon afternoon: Rally into three figures
23rd Nov 2009 14:49
A record price for gold, an early rally on Wall Street and strength across the financial sector has sent London to its best levels of the day. Gold has hit new highs, and that has led to sharp mark-ups in the price of gold miner Randgold and silver and gold miner Fresnillo. Elsewhere in the sector
Read moreWednesday newspaper round-up: ITV, Cadbury, Goldman Sachs
18th Nov 2009 06:29
ITV will today name Archie Norman, the former chief executive of Asda, as its new chairman, according to two people familiar with the situation. The appointment of Mr Norman, 55, a former Tory MP, will bring to an end an embarrassing seven-month succession process for the broadcaster as it sought t
Read moreLondon close: Four-day rally is over
17th Nov 2009 16:31
The leading index finished near its worst levels of the session as weaker banks and mining heavyweights brought a 4-day winning streak to an end. The dollar's bounce off Monday's 15-month low hurt metal prices. Federal Reserve chairman Ben Bernanke said last night that the Fed will conduct policy i
Read moreBroker tips: Barclays, British Land, C&W
17th Nov 2009 13:00
The Barclays share price has undergone a correction since Qatar's sovereign wealth fund sold half of the warrants it holds in the UK bank back in mid-October, meaning the shares trade barely above Nomura Securities' estimate of year-end tangible book value per share (TBVPS). The broker has raised i
Read moreBroker snap: Nomura ups Barclays to 'buy'
17th Nov 2009 12:02
The Barclays share price has undergone a correction since Qatar's sovereign wealth fund sold half of the warrants it holds in the UK bank back in mid-October, meaning the shares trade barely above Nomura Securities' estimate of year-end tangible book value per share (TBVPS). The broker has raised i
Read moreTuesday newspaper round-up: Bank bonuses, Regal Petroleum, Lloyds Banking
17th Nov 2009 06:32
Bankers who are not prepared to forgo controversial contracts that flout new rules on bonuses should get out of the mainstream industry, Lord Myners has declared. The City Minister fired a warning shot ahead of the Queen's Speech tomorrow, which will outline plans to forbid guaranteed bonuses and o
Read moreSunday newspaper round-up: Barclays, Lloyds, British Airways
15th Nov 2009 09:51
The American investment bank JP Morgan is to trigger one of the City's biggest pay days by buying out the remaining 50% of Cazenove, the blue-blooded broker, for £950m. About £650m will be split between 80 former Cazenove partners, including a number of aristocrats and society figures, many of who
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