No plans for fresh LIBOR-rigging probe into Barclays, says FCA
18th Oct 2013 13:52
The Financial Conduct Authority has said it has "no current plans" to launch another probe into Barclays' role in the LIBOR-rigging scandal. It comes after allegations that documents provided in a court case yesterday showed the part the Bank played in the debacle went "further and wider than the
Read moreLondon midday: Stocks rise on hopes over taper delays
18th Oct 2013 11:23
The FTSE 100 came close to a one-month high on Friday morning on hopes that the political uncertainty in Washington may prompt the Federal Reserve to continue with its stimulus measures for a little longer. Also helping sentiment this morning was Chinese gross domestic product which grew at a year-
Read moreBroker snap: Don't own RBS ahead of Q3 results, says Investec
18th Oct 2013 11:20
Investec has maintained its 'sell' rating for UK lender Royal Bank of Scotland (RBS), recommending investors not to own the stock ahead of its third-quarter results on November 1st. Analyst Ian Gordon said that the bank will likely fall back into the red in the second half, though most of the damag
Read moreFresh details of Barclays' alleged rate fixing emerge
18th Oct 2013 11:13
Documents provided in a court case indicate that Barclays' role in the LIBOR-rigging scandal "goes further and wider than the regulatory findings", it has been alleged by lawyers acting for Guardian Care Homes (GCH). GCH is suing Barclays over interest-rate swaps in a test case that could in theory
Read moreFriday newspaper round-up: December taper, Barclays, Energy bills
18th Oct 2013 07:28
The US government shutdown sabotaged a crucial month of data and dealt a blow to the world's largest economy, but the Federal Reserve could still begin reducing its asset purchases as early as December. Analysts have slashed their growth forecasts for the fourth quarter to two per cent or below, wit
Read moreLondon close: Stocks edge higher after late rally
17th Oct 2013 17:00
UK stocks erased losses on Thursday afternoon, finishing in positive territory for the sixth straight session, though the market gave a rather lacklustre reaction to the last-minute US deal to avert a debt default. Alastair McCaig, Market Analyst at IG, said: "Having jumped out the way of one oncom
Read moreFTSE 100 movers: BSkyB shares jump on strong revenues
17th Oct 2013 15:31
Satellite television and broadband group BSkyB surged after recording a strong rise in first-quarter revenues helped by an increase of 800,000 paid-for subscription products. However, profits were down after a step-up in Premier League costs. Brewing giant SABMiller gained after saying its first-ha
Read moreBroker snap: UK banks could need extra capital, says BNP
17th Oct 2013 12:47
UK banks were trading in the red on Thursday after Exane BNP Paribas speculated that lenders may need to raise more capital to meet regulatory requirements. The Prudential Regulation Authority (PRA), due to make its final statement in December, could introduce additional capital buffers on top of c
Read moreLondon midday: Markets retreat from four-week high on US concerns
17th Oct 2013 11:33
UK markets pulled back from a four-week high on Thursday as investors gave a mixed reaction to an 11th-hour deal on Capitol Hill to increase the debt ceiling and reopen the US government. Nevertheless, losses were trimmed by midday after UK retail sales rose by a better-than-expected 0.6% in Septem
Read moreBarclays named most complained about firm, FCA data reveals
16th Oct 2013 14:18
Barclays has been named as the most complained about firm in the first half, according to data from the Financial Conduct Authority. It had 370,733 complaints in the first half, down 12% from the previous half. Lloyds TSB was the second most complained about financial services firm with 253,735 co
Read moreBarclays' Hector Sants takes stress-induced sick leave
16th Oct 2013 11:13
Sir Hector Sants, the man brought in to put scandal-hit Barclays back on the straight and narrow, has been forced to take time off due to 'exhaustion and stress', it was revealed Wednesday. The former investment banker, who used to head up the Financial Services Authority (FSA), has been signed of
Read moreSector movers: RBS leads banks lower after BofA downgrade
14th Oct 2013 16:00
UK-listed banks were out of favour on Monday as macro concerns weighed on investor appetite for risk; Royal Bank of Scotland was a heavy faller after being hit with a downgrade by Bank of America Merrill Lynch. The US broker lowered its rating for RBS from 'neutral' to 'underperform', cutting its p
Read moreFTSE 100 movers: Johnson Matthey tops leaders after upgrade
14th Oct 2013 14:37
The share price of chemicals group Johnson Matthey jumped on Monday after the stock was upgraded by JPMorgan Cazenove from 'neutral' to 'overweight'. The US bank hiked its target price for the shares from 2,800p to 4,000p, saying that it sees "major potential from a swathe of new global industrial c
Read moreLondon midday: Markets pause on US stalemate, mixed Chinese data
14th Oct 2013 11:28
Markets paused at a two-week high on Monday as investors refrained from building as concerns over the US debt ceiling and mixed data from China weighed on risk appetite. London's benchmark FTSE 100 was trading with small gains by midday after finishing Friday's session at 6,483.79, its highest clos
Read moreLondon open: Stocks flat as US political deadlock continues
14th Oct 2013 08:38
A political stalemate in Washington over the debt ceiling weighed on risk appetite on Monday morning, with the FTSE 100 holding steady in early trading after hitting two-week highs the previous session. London's benchmark index finished at 6,483.79 on Friday, its highest close since September 27th,
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