Barclays to pay CVC £106m in fees
17th Jun 2009 06:57
Barclays will recommend the £8.1bn ($13.5bn) purchase of its fund management arm, Barclays Global Investors (BGI), to US asset manager BlackRock at a general meeting in August. In a statement released late Tuesday, the UK bank also said private equity firm CVC Capital Partners, which bid $4.4bn for
Read moreLondon close: Footsie clings to gains
16th Jun 2009 16:39
London's benchmark index finished just above flat, reversing earlier gains, as Wall Street started in a lacklustre fashion. Tesco's first quarter trading update was well received. Like-for-like (LFL) sales growth came in at the top end of expectations, helped by a resumption of growth in non-food
Read moreLondon afternoon: Shares crawl higher
16th Jun 2009 14:19
London's blue-chip index edged higher over the lunch-time session, helped by expectations of a moderately firmer start on Wall Street. Tesco's first quarter trading update has been well received. Like-for-like (LFL) sales growth came in at the top end of expectations, helped by a resumption of gro
Read moreLondon midday: Lloyds leads rally
16th Jun 2009 12:04
Footsie is making a valiant attempt to claw back yesterday's losses but its progress is being impeded by a weak mining sector. Tesco's first quarter trading update has been well received. Like-for-like (LFL) sales growth came in at the top end of expectations, helped by a resumption of growth in n
Read moreSunday newspaper round-up: Lloyds, Addax Petroleum, Friends Provident
14th Jun 2009 09:56
Lloyds Banking will lose an estimated £450m on Admiral Taverns, the pub giant, in what is believed to be one of the biggest write-offs it will be forced to take on a single investment. The group's Bank of Scotland arm had lent more than £850m to Admiral, owner of more than 2,000 pubs, to finance a
Read moreLondon close: Footsie ends down
12th Jun 2009 16:34
London's top stocks have finished slightly lower despite a late flurry as a lacklustre start on Wall Street kept stocks down. Indian refiner and miner Vedanta led the mining sector lower after saying it is to raise $1bn through an issue of convertible bonds, though major shareholder Volcan has decl
Read moreLondon afternoon: Stocks still in the red
12th Jun 2009 15:08
London's top stocks are still in the red, with a lower start on Wall Street adding to the earlier pressures. Indian refiner and miner Vedanta leads the mining sector lower after saying it is to raise $1bn through an issue of convertible bonds, though major shareholder Volcan has declined to take p
Read moreLondon midday: Footsie slips back
12th Jun 2009 12:33
Footsie sits slightly in the red on a quiet day on the company news front, with miners falling back in line with metals prices. Indian refiner and miner Vedanta leads the mining sector lower after saying it is to raise $1bn through an issue of convertible bonds, though major shareholder Volcan has
Read moreTechnical Analysis: Banks treading water
12th Jun 2009 11:02
Banks have again been in the spotlight this week with speculation growing about the government's withdrawal from ownership of large stakes of RBS and Lloyds as well as Northern Rock. Further adding to the mix has been Barclay's sale of its fund management arm to BlackRock for £8.1bn, and the upgrad
Read moreLondon open: Footsie starts quietly
12th Jun 2009 08:47
Footsie has opened broadly unchanged on a quiet day on the company news front going into the weekend. Barclays has sold its fund management arm, Barclays Global Investors, to US asset manager BlackRock for £8.1bn ($13.5bn). BlackRock will pay $6.6bn in cash and the rest in shares for the unit which
Read moreLondon pre-open: Flat start expected
12th Jun 2009 07:50
Footsie is expected to open broadly unchanged on a quiet day on the company news front going into the weekend. Shareholders at private equity group 3i have taken up 96.5% of the shares offered to them as part of the company's £700m rights issue. The firm said it had received valid acceptances in re
Read moreFriday newspaper round-up: BlackRock buys Barclays Global
12th Jun 2009 06:19
BlackRock, the giant US money manager, is to buy Barclays Global Investors for $13.5bn (£8.2bn) in a deal that will make it the world's biggest asset manager, the Times reports. The sale, which also includes the iShares business, will more than double BlackRock's assets to roughly $2.7trn and give
Read moreUpdate: Barclays boosts capital ratios in BlackRock deal
12th Jun 2009 03:18
Barclays has sold its fund management arm, Barclays Global Investors, to US asset manager BlackRock for £8.1bn ($13.5bn). BlackRock will pay $6.6bn in cash and the rest in shares for the unit which includes the iShares business, which Barclays had previously agreed to sell to private equity firm C
Read moreLondon close: Banks boost Footsie late
11th Jun 2009 16:33
London rallied strongly late on, helped by gains for banks, which outweighed profit taking among the big mining stocks and weakness among oil users as the price of crude rose again. Speculation is growing about the timing of the government's withdrawal from ownership of large stakes in Royal Bank
Read moreLondon afternoon: Banks in demand
11th Jun 2009 14:47
London is having a languid day, with Footsie lacking direction. Banks are strong but their gains are counterbalanced by losses on mining stocks. Banks are in focus as speculation grows about the timing of the government's withdrawal from ownership of large stakes in Royal Bank of Scotland (RBS), L
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