Technical 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
Read moreLondon close: Footsie finishes flat
9th Jun 2009 17:05
The UK's blue-chip index spent the day flitting above and below last night's closing level so it should have been no surprise when the FTSE 100 closed virtually unchanged. Thomas Cook was the day's best performer after it calmed investors' nerves over the collapse of Arcandor, which has a 52% stake
Read moreLondon close: Late rally not enough
8th Jun 2009 17:01
Footsie came off its lows towards the close of trading Monday but still finished lower, held back by a weak mining sector. Mining stocks Vedanta Resources, Eurasian Natural Resources, Anglo American, BHP Billiton, Rio Tinto, Fresnillo, Lonmin and Antofagasta all featured among the ten worst perfor
Read moreLondon afternoon: Lloyds rump placed at 60p
8th Jun 2009 14:20
Footsie clawed back some losses over the lunch time session but remains in the red, thanks largely to the weakness of miners, which are following metals prices lower. Mining stocks Vedanta Resources, Eurasian Natural Resources, Anglo American, BHP Billiton, Rio Tinto, Fresnillo, Lonmin and Antofa
Read moreBlackRock interested in Barclays unit
8th Jun 2009 12:32
Barclays has confirmed it is in talks with US firm BlackRock regarding the sale of its fund management arm Barclays Global Investors (BGI). Britain's second-biggest bank, which agreed to sell its iShares business, part of BGI, to private equity firm CVC Capital Partners in April for $4.4bn, said di
Read moreLondon midday: Miners weigh down Footsie
8th Jun 2009 12:19
London's blue-chip index is doing its usual trick of following the miners, which today are in a down phase. The worst performers in the mining sector are Vedanta Resources, Eurasian Natural Resources, Anglo American, BHP Billiton, Rio Tinto, Fresnillo and Antofagasta. Hochschild Mining follows
Read moreLondon open: Bank news knocks Footsie
8th Jun 2009 08:40
Banking shares have dominated early trading after news from both Barclays and Lloyds, but investors have reacted cautiously in both instances. Barclays has confirmed talks are underway with US firm BlackRock over the future over its fund management arm Barclays Global Investors (BGI), which includ
Read moreLondon pre-open: Footsie to start lower
8th Jun 2009 07:40
Banking shares are likely to be in focus Monday morning after updates from both Barclays and Lloyds. Traders expect Footsie to drop 25 points early on. Barclays has confirmed talks are underway with US firm BlackRock over the future over its fund management arm Barclays Global Investors (BGI), whi
Read moreBarclays confirms BlackRock talks
8th Jun 2009 07:09
Barclays has confirmed talks are underway with US firm BlackRock over the future over its fund management arm Barclays Global Investors (BGI), which includes its iShares business. Reports over the weekend suggested Barclays is poised to conclude a deal that would see BlackRock buy BGI for £8.1bn, w
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