Barclays said to be in talks to sell retail operations in Italy and Portugal
9th Jul 2015 12:20
Barclays is reportedly in talks with potential buyers of its retail operations in Italy and Portugal as part of an asset disposal programme which the bank's next chief executive will be under pressure to accelerate after Antony Jenkins was ousted on Wednesday. According to Sky News, Barclays has iss
Read moreUK Chancellor George Osborne to cut bank levy
8th Jul 2015 13:04
In the first Conservative Budget since 1996, Chancellor George Osborne announced that the bank levy rate will be gradually reduced over the next six years and a new 8% surcharge on bank profits will be introduced from January 2016. After that, Osborne said he will ensure the levy no longer applies t
Read moreLondon midday: FTSE bounces despite China sell-off and Greek uncertainty
8th Jul 2015 11:23
UK stocks advanced on Wednesday in spite of a sell-off in China overnight and ongoing uncertainties surrounding Greece, as markets bounced back after falling to their lowest in nearly six months. The FTSE 100 was up 0.7% at 6,477.14 by midday, after settling at 6,432.21 on Tuesday, its lowest since
Read moreLondon open: Stocks rise ahead of budget, but China and Greece a concern
8th Jul 2015 09:12
London stocks bounced slightly on Wednesday after settling at their lowest in nearly six months, though gains were modest as investors focused on a sell-off in China overnight, the upcoming UK budget and news flow on Greece. The FTSE 100 was up 0.38% at 6,456.90 early on, after settling at 6,432.21
Read moreLondon pre-open: Higher open expected ahead of UK budget
8th Jul 2015 07:35
UK stocks are expected to open higher on Wednesday after dropping to their lowest level in six months as investors await further news on Greece and the chancellor's budget statement. City sources predict the FTSE 100 will open 46 points higher than Tuesday's close of 6,432.21, the lowest close 16 Ja
Read moreBarclays gains as CEO Jenkins steps down, bank looks for "new set of skills"
8th Jul 2015 07:14
Barclays was on the front foot after the bank announced the departure of its chief executive, Antony Jenkins, saying that "a change in leadership is required" and the search for his successor is underway. Chairman John McFarlane will become executive chairman pending the appointment of a new chief e
Read moreBrazil probes 15 banks over alleged exchange-rate manipulation
3rd Jul 2015 14:16
Banking stocks fell on Friday after Brazil's antitrust agency accused 15 banks of rigging the Brazilian currency. CADE is investigating banks such as HSBC, Barclays, Deutsche Bank and Standard Chartered over suspicions they worked together to manipulate the exchange rate of the real, deterring compe
Read moreBarclays appoints KPMG as new auditor, replaces PwC
3rd Jul 2015 14:07
Barclays said on Friday that it will appoint KPMG as its auditor for the year ending 31 December 2017, ending its 119-year audit relationship with PwC. The announcement follows a competitive tender process that PwC was not invited to take part in after Britain's competition watchdog said big compani
Read moreFTSE 100 movers: RBS hit by mortgage bond allegations, Vodafone by ML note
3rd Jul 2015 13:34
UK stocks inched lower on Friday, as investors continued to fret in the run up to Sunday's Greek referendum. As of 14:30 BST, the FTSE 100 was trading 0.5% lower at 6,595, led by Vodafone after a negative note on the telecoms giant by Merrill Lynch, which told clients it felt the stock's recovery re
Read moreBarclays starts Jimmy Choo at 'overweight', strong growth seen
2nd Jul 2015 09:03
Shares in the fashion retailer Jimmy Choo rose on Thursday after Barclays initiated coverage with an 'overweight' recommendation and a price target of 208p on expectations for stronger growth than its sector peers. Barclays predicted earnings per share would grow at an average pace of 14% over the n
Read moreFTSE 100 movers: Travel and banking stocks surge, miners decline
1st Jul 2015 13:05
London markets were buoyed by strength in the travel and banking sectors, which offset weakness in mining and oil stocks. As of 14:30 BST, the FTSE 100 was trading 1.5% higher at 6,617. Travel and leisure stocks including Easyjet, IAG, TUI and IHG rebounded after a recent sell-off. The sector had b
Read moreLondon close: FTSE sinks to five-month low as final act of Greek drama unfolds
29th Jun 2015 16:54
Heavy falls in the travel, tourism and financial sectors prompted a 2% plunge on the FTSE 100 on Monday as investor sentiment was hammered by concerns about the future of Greece and the wider Eurozone. The FTSE 100 finished 133.22 points lower (-1.97%) at 6,620.48 by the end of the session, its lowe
Read moreMonday newspaper round-up: Greece, UK banks, Samsung Bioepis
29th Jun 2015 06:46
Greece has temporarily shut down its banks and suspended trading on its stock market after the collapse of talks between Athens and its lenders and the ECB's decision to freeze life support for Greek banks, reports The Telegraph. An annual survey of the world's top 1,000 banks by The Banker has show
Read moreBarclays and Lloyds merit multiple expansion, Morgan Stanley says
25th Jun 2015 15:31
European Banks are undervalued as their risk profile and cost of equity have fallen sharply, one of the world's largest brokers said on Thursday. Lenders' move to de-lever has seen their beta, the most widely accepted measure of an investment's riskiness in comparison to the wider market, "fall dram
Read moreBarclays appoints new non executive director
25th Jun 2015 09:51
Diane Schueneman has been appointed as a non-executive director of Barclays, the banking giant said on Thursday. Schueneman, who has spent 37 years at Merrill Lynch covering a number of roles, including that of senior vice president and head of global infrastructure solutions, is currently a non-exe
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