London pre-open: Sale of Barclays stake dampens mood
2nd Jun 2009 07:41
Despite the strong showing by Wall Street overnight London is set to open lower in the wake of the decision by the International Petroleum Investment Company (IPIC) to bank profits on its Barclays stake. City sources expect the FTSE 100 will open around 16 points lower than the previous close of 4,5
Read moreBarclays responds to IPIC divestment
2nd Jun 2009 07:02
Barclays said it hopes to expand its strategic and commercial relationship with the International Petroleum Investment Company (IPIC) despite IPIC’s professed intention to reduce its stake in the UK bank. IPIC has announced plans to offload 1,305m Barclays shares for which its entire holding of Man
Read moreTuesday newspaper round-up: Barclays, WPP, British Airways
2nd Jun 2009 06:14
One of Barclays' largest Middle Eastern shareholders announced plans on Monday night to offload its stake in the British bank, pocketing a large profit less than seven months after making its £3.5bn investment, reports the FT. International Petroleum Investment Corp, an investment vehicle of the Ab
Read moreSunday newspaper round-up: General Motors, Vauxhall/Opel, BSkyB
31st May 2009 10:25
General Motors, once the largest company in the world, is expected to file for bankruptcy in a New York court tomorrow. Executives and politicians on both sides of the Atlantic are spending the weekend finalising details ahead of the historic capitulation that comes after months of talks and billion
Read moreLondon midday: Financials drag Footsie down
20th May 2009 12:01
Leading shares remain mixed with the Footsie in negative territory thanks, in part, to weak performance by financial stocks. The share price of Lloyds Banking Group has been adjusted to take into account the fact that the shares no longer carry the right to participate in the group's compensatory o
Read moreLondon close: Miners and financials lead the way
19th May 2009 16:31
Strength among financial plays and miners guaranteed London gains Tuesday, although it had looked a close call following a weak start on Wall Street. A near-13% slump in US housing starts in April proved a drag mid-afternoon before US stocks regained their poise and moved higher. Anglo American fi
Read moreLehman seeks to probe Barclays deal
19th May 2009 14:30
Lehman Brothers is seeking court permission to probe whether its US brokerage unit was undervalued when it was acquired by Barclays last year. In documents filed in the US Bankruptcy Court in Manhattan, Lehman said it "has become aware of apparent material discrepancies relating to the liabilities
Read moreTuesday newspaper round-up: Bank of England, Barclays, Lloyds
19th May 2009 06:17
The Bank of England revealed yesterday that it had racked up record profits of almost £1bn in the year to February as its fee-earning activities burgeoned amid the global financial and economic turmoil, reports the Times. Lehman Brothers Holdings wants to investigate whether the sale of its US brok
Read moreLondon close: Footsie ends on low note
15th May 2009 16:29
London closed lower after a lacklustre afternoon session with losses on properties and travel companies outweighing gains on miners. Shocking figures from property giant Land Securities on Wednesday still cast a shadow over the real estate investment trusts (REITs). LandSecs leads the sector lowe
Read moreLondon afternoon: Travel companies trip Footsie
15th May 2009 14:10
London continues its gentle downward drift, with losses on properties and travel companies outweighing gains on miners. The market seems unlikely to get any sort of lift from Wall Street which is expected to open moderately weaker. Shocking figures from property giant Land Securities on Wednesday
Read moreFTSE 100 movers: Barclays lifted by iShares talk
15th May 2009 13:17
Barclays did well on hopes it may backtrack on a deal to sell its iShares unit to CVC, the private equity group, and instead offload its entire asset management division for £6.5bn. Barclays agreed last month to sell its iShares unit to CVC Capital Partners for $4.2bn, but is now reportedly consid
Read moreBroker tips: Banks, M&S, Morgan Crucible
15th May 2009 12:36
Barclays, already fielding bids for its iShares business, was buoyed Friday morning by rumours of a sale of the whole of its asset management arm. US group Blackrock is rumoured to be interested in buying the unit and may be prepared to pay up to $10bn. Little wonder, then, that Keefe, Bruyette
Read moreLondon midday: Rally stalls
15th May 2009 12:15
Weak properties and oils have pitched the Footsie into the red, despite the continued strength of banks and miners. Shocking figures from property giant Land Securities on Wednesday are still casting a shadow over the real estate investment trusts (REITs). LandSecs leads the sector lower but Hammer
Read moreTechnical Analysis Snap: Barclays near its highs
15th May 2009 11:29
Shares in Barclays are higher this morning on speculation that the bank is considering offers for its asset management arm, Barclays Global Investors. It is, however, still quite a way short of this year's high posted last week at around 307p. Since we made these highs, the share price slip
Read moreBarclays up on $10bn BGI sale talk
15th May 2009 09:32
Shares in Barclays jumped on reports that the banking giant is considering offers worth around $10bn (£6.5bn) for its asset management arm Barclays Global Investors. Potential bidders for the BGI division include US money manager BlackRock and Bank of New York Mellon, according to press reports.
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