London 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
Read moreWednesday newspaper round-up: Barclays, Cadbury, National Express
11th Nov 2009 06:19
Barclays is considering raising investment bankers' base salaries to avoid the worst of the City regulator's crackdown on bonuses, says the Telegraph. Barclays, which employs 21,900 investment bankers who are on course for an average of £200,000, revealed yesterday it is reviewing its remuneration p
Read moreLondon close: Flat finish for FTSE 100
10th Nov 2009 16:29
Footsie finished slightly in the red having failed to find any sense of direction all day as results sent stocks in both directions. Banking titan HSBC climbed after it said underlying third quarter profit was "significantly" ahead of the same time last year. It's also seeing some stabilisation in
Read moreFTSE 100 movers: Mixed sentiments from top banks
10th Nov 2009 15:22
Banking titan HSBC is top dog today after underlying third quarter profit was "significantly" ahead of the same time last year. It's also seeing some stabilisation in its bad debts picture, especially in the US. In contrast, sector peer Barclays is under the waether despite third quarter profits c
Read moreLondon afternoon: Miners drag Footsie under
10th Nov 2009 14:31
With the US markets opening lower, London has followed suit, despite a strong performance from FTSE 100 index heavyweight HSBC. Banking titan HSBC said underlying third quarter profit was "significantly" ahead of the same time last year. It's also seeing some stabilisation in its bad debts picture,
Read moreLondon midday: Mixed fortunes for banks
10th Nov 2009 11:58
Despite a slew of company results to pick over the market continues to lack direction, though a good reception to results from index heavyweight HSBC helps underpin the FTSE 100's positive showing. Banking titan HSBC said underlying third quarter profit was "significantly" ahead of the same time la
Read moreSector movers: HSBC cheer offsets Barclays gloom
10th Nov 2009 10:52
Banking is one of the best performing sectors despite mixed results. HSBC leads the sector higher, after saying it is seeing some stabilisation in its bad debts picture, especially in the US, while elsewhere business generally remains strong. "Overall, loan impairment charges and other credit risk
Read moreLondon open: Early improvement
10th Nov 2009 08:33
UK shares have started to edge higher after an initial pause as investors weigh up a flood of results from some of the country's biggest companies. Schroders leads the way following a smaller than expected 19% drop in third quarter profit. The fund manager made a profit before tax and exceptional i
Read moreLondon pre-open: Moderately firmer start seen
10th Nov 2009 07:44
London is expected to open moderately firmer against a background of a busy company results scene. The FTSE 100 is expected to open up around 11 points higher at 5,246. Mobile phone network Vodafone traded in line with expectations during the first half of its fiscal year, raising revenue by over
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