Barclays reportedly hires JPMorgan Cazenove in broking shake-up
24th Jun 2015 13:28
Barclays is reportedly drafting in JPMorgan Cazenove to help steer it through an intensive period of restructuring to improve its performance. According to Sky News, Barclays has in recent days appointed the Wall Street bank as its corporate broker, alongside Deutsche Bank, an incumbent. JPMorgan w
Read moreLondon close: Stocks cut gains after Greek talks stall
11th Jun 2015 16:46
Stocks managed to hold on to their gains at the end of the session despite news the International Monetary Fund had pulled the technical team which was negotiating with Athens in Brussels. RBS was among the best performers in London after the government announced plans to sell down its stake, while
Read moreLondon midday: Stocks edge higher ahead of Osborne's speech
10th Jun 2015 11:45
UK stocks reversed earlier losses and edged forward on Wednesday, as traders waited on the Chancellor's Mansion House speech. Industrial output in the UK sped past forecasts in April, thanks to a strong contribution from mining. Production grew by 0.4% month-on-month, as an 8.7% surge in oil and ga
Read moreRBS, Barclays among banks downgraded by S&P
10th Jun 2015 08:53
Ratings agency Standard & Poor's downgraded a number of UK and German banks including Barclays, Royal Bank of Scotland, Deutsche Bank and Commerzbank, saying it was uncertain whether their respective governments would bail them out if they ran into difficulties. "We now consider the prospect that th
Read moreLondon pre-open: Footsie to start lower as transport sector weighs on Wall Street
10th Jun 2015 07:49
The FTSE 100 is expected to start the session between 5 to 12 points lower from Tuesday's close of 6,753.80 points. That follows a flat close on Wall Street overnight. The Dow Jones Industrials finished in negative territory for the year as the Dow Jones Transports closed at year-to-date lows, weigh
Read moreWednesday newspaper round-up: Referendum, Bank levy, Mansion House
10th Jun 2015 07:11
The Government should hold a referendum on Britain's EU membership as soon as possible to end the uncertainty that the looming vote creates for businesses, according to one of the world's leading bond investors. The Pacific Investment Management Company (Pimco) said it was important for the UK to ge
Read moreStifel to buy Barclays US wealth business
8th Jun 2015 13:41
Stifel Financial Corp announced on Monday that it has entered into a deal to buy Barclays' wealth and investment management fanchise in the Americas for an undisclosed sum. As of 31 May, Barclays' advisory business - concentrated in New York and 11 other major metropolitan cities in the US - had abo
Read moreUK bank levy change would benefit StanChart the most, says SocGen
8th Jun 2015 09:30
Commenting on a Sunday Times report that George Osborne is to lay the groundwork for a review of the bank levy, Societe Generale said that Standard Chartered was likely to be the biggest beneficiary. SocGen explained that the current method of calculation puts UK banks at a disadvantage when operati
Read moreBarclays settles Lehman Brothers litigation; sees $750m boost to profit
5th Jun 2015 15:55
Barclays said on Friday that it has reached a settlement with the SIPA Trustee for Lehman Brothers to resolve outstanding litigation between the parties relating to the acquisitions by Barclays of most of Lehman's assets in September 2008. As a result of the settlement, Barclays expects to recognise
Read moreCiti sees 40% return on European equities to end-2016
1st Jun 2015 10:50
European shares are set to 'deliver' as economic recovery in the euro area gains traction and given that valuations are not currently expensive, contrary to what some observers say, a leading broker argued on Monday. In a research note entitled "El Toro - the European bull" analysts at Citi highligh
Read moreLondon open: Ahead of US data, stocks pare gains on Greek worries
1st Jun 2015 08:24
Stocks pared strong early gains ahead of a raft of US economic data scheduled for release in the afternoon amid continued worries over the situation in Greece. As of 08:56 the FTSE 100 was higher by 24.21 points to 7,008.64. The top flight index snapped higher at the start of the session following
Read moreStifel reportedly in lead to buy Barclays' US wealth management unit
1st Jun 2015 07:11
Investment bank Stifel Financial Corp is reportedly in advanced talks to acquire Barclays' US wealth management unit in a deal that could come as early as next week. Stifel is currently negotiating key aspects with Barclays, although a deal is not certain and Barclays could go back to other bidders
Read moreFTSE 100 movers: Banks and miners weaker, property stocks extend gains
26th May 2015 13:18
UK stocks were were buffeted on Tuesday by Greek uncertainty, stateside interest rate speculation and weakness among miners and financials. As of 14:30 BST, the FTSE 100 was trading 23.5 points lower at 7,008.24. Banking stocks with high eurozone exposure plummeted as Greece concerns merged with Sp
Read moreLondon midday: Banks and oil stocks drag Footsie lower after long weekend
26th May 2015 11:33
Greek uncertainty, interest rate speculation stateside and tonnes of US economic data ahead led to a nervous start in London following the long weekend. The FTSE 100, which settled at a two-week closing high of 7,031.72 on Friday, was down 0.23% at 7,015.37 by Tuesday midday. Concerns that Greece w
Read moreLondon open: Greek fears hit stocks as investors await US data barrage
26th May 2015 08:21
UK stocks slipped on Tuesday morning as investors started a shortened trading week on a cautious note ahead of a raft of economic data from the States. The FTSE 100 was down 0.58% at 6,991.11 early on with stocks in the banking and oil sectors providing a drag. Concerns that Greece will struggle to
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