London close: Footsie ends at 10-month high
3rd Aug 2009 16:16
Blue chips closed at their highest since early October as investors piled into heavyweight miners and the big banks, although the index failed to hold above 4,700. Oil services specialist Petrofac was in pole position after UBS upgraded the shares to 'buy' and its target price to £10. Crude prices
Read moreLondon afternoon: Banks dominate as Footsie rises
3rd Aug 2009 14:50
Footsie is still well in the blue with HSBC and Barclays leading the way and a decent start on Wall Street helping the mood. HSBC posted a profit before tax of $5bn during the period, down from $10.2bn a year ago, but just ahead of forecasts. It said it is 'pleased' with the results. Barclays deli
Read moreSector movers: Bank results impress market
3rd Aug 2009 13:19
Well-received results from Barclays and HSBC help lift the banking sector higher. Barclays shares shot up after it posted half-year profits of £3bn, despite an 86% rise in impairment charges, as profits at its investment banking division doubled. Pre-tax profit more than halved at HSBC in the firs
Read moreLondon midday: Bank results send Footsie soaring
3rd Aug 2009 11:59
Footsie is posting big gains on the back HSBC and Barclays results, with an upward move from the miners on higher metal prices also helping the mood. HSBC posted a profit before tax of $5bn during the period, down from $10.2bn a year ago, but just ahead of forecasts. It said it is 'pleased' with th
Read moreUpdate: Barclays jumps after posting £3bn profit
3rd Aug 2009 11:38
Barclays shares shot up after it posted half-year profits of £3bn, despite an 86% rise in impairment charges, as profits at its investment banking division doubled. Bob Diamond, president of Barclays and head of the investment bank Barclays Capital, said the record profits made at BarCap were "sus
Read moreTechnical Analysis Snap: Barclays results push shares higher
3rd Aug 2009 08:53
Shares in Barclays have rallied after the bank delivered profits of £3bn for the first half of 2009, an increase of 8% on last year, although slightly under analyst expectations. There was also an increase in income, not surprising given their takeover of Lehman's business, up 37%. The shares, a
Read moreLondon open: Footsie makes good progress
3rd Aug 2009 08:42
Footsie has made good progress in early dealings helped by Barclays' first half results and more gains for the miners. Barclays delivered profits of £3bn for the first half, an increase of 8% against the same period last year, despite £4.6bn of gross losses on credit market exposures and £3.3bn of
Read moreLondon pre-open: Early gains expected
3rd Aug 2009 07:38
Footsie is expected to post moderate gains in early dealings as Barclays kicks off a round of banking results Barclays delivered profits of £3bn for the first half, an increase of 8% against the same period last year, despite £4.6bn of gross losses on credit market exposures and £3.3bn of other imp
Read moreBarclays posts £3bn profit
3rd Aug 2009 07:03
Barclays delivered profits of £3bn for the first half, an increase of 8% against the same period last year, despite £4.6bn of gross losses on credit market exposures and £3.3bn of other impairments. Profit before tax for the period rose to £2,984m from £2,754m last year as it posted record income
Read moreMonday newspaper round-up: Banks, Lord Myners, Virgin Media
3rd Aug 2009 06:17
Wall Street banks are reaping outsized profits by trading with the Federal Reserve, raising questions about whether the central bank is driving hard enough bargains in its dealings with private sector counterparties, officials and industry executives say, reports the FT. The Fed has emerged as one
Read moreSunday newspaper round-up: UK banks, National Express, William Hill
2nd Aug 2009 10:43
Treasury minister Lord Myners' radical plans for changes to financial regulation are "dangerous" and could result in a further loss of confidence in the market, according to the Association of British Insurers (ABI), the Sunday Telegraph reports. Lord Myners' idea for a two-tier shareholder registe
Read moreShareholders of UK banks looking for a result
31st Jul 2009 18:06
The banking sector has been one of the top five performers since the market rally started on 9 March, and next week's results from the major players are expected to add weight to the view that the worst may be behind them. Barclays and HSBC get the ball rolling on Monday. Both companies have avoide
Read moreLondon close: Footsie equals winning streak
27th Jul 2009 16:59
Though it was a close run thing the Footsie ended the day in the blue, equalling its record run of 11 successive days of rises. The blue-chip index was supported by a strong performance from miners and the part-nationalised banks. Lonmin was wanted after Goldman Sachs upgraded the stock to "neutr
Read moreLondon afternoon: Winning streak in danger
27th Jul 2009 14:34
Footsie has dipped back into the red, with sentiment taking a knock from Wall Street's soft opening. Were the Footsie to finish higher today it would equal a record streak of 11 successive days of gains. Pearson remains the best performer on a much better than expected trading update. The publishin
Read moreDarling to quiz banks on business lending
27th Jul 2009 08:25
Britain's high street bank chiefs have been summoned to the chancellor's office today to explain their failure to re-start lending to small businesses despite receiving £37bn of taxpayer's money. Heads of Lloyds and Royal Bank of Scotland - the two state-controlled high street banks- will be joined
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