London midday: Stocks flat despite decent data from UK, Eurozone
14th Aug 2013 11:18
The FTSE 100 was continuing to trade more or less flat on Wednesday morning despite economic data from the UK and Eurozone coming in ahead of expectations. "The equity market continues to trade within its recent range this morning as volumes bounce along the bottom and traders struggle for motivati
Read moreLondon open: Subdued start as markets await influx of data
14th Aug 2013 08:23
Markets opened broadly flat on Wednesday as traders showed caution ahead of a barrage of economic reports, including the minutes of the latest Bank of England policy meeting. As well as the minutes, investors will look out for gross domestic product (GDP) figures from the Eurozone, unemployment da
Read moreLondon pre-open: Flat start expected ahead of data, MPC minutes
14th Aug 2013 07:24
Markets are expected to open more or less flat on Wednesday as traders await a barrage of economic reports, including the minutes of the latest Bank of England policy meeting. As well as the minutes, investors will look out for gross domestic product figures from across the Eurozone, unemployment
Read moreBarclays Financial Director to step down on Friday
14th Aug 2013 07:04
Barclays has confirmed Financial Director Chris Lucas will step down this week for health reasons. Lucas was due to depart the company on February 28th 2014 but said he would now leave on Friday. "My health was a key factor behind my decision to step down which we announced in February," he said
Read moreWednesday newspaper round-up: Barclays, US Airways, Miliband
14th Aug 2013 06:49
Barclays Finance Director Chris Lucas is to step down this week, leaving the bank in the lurch as it tries to raise nearly 6bn pounds from shareholders, The Telegraph revealed. The US Department of Justice has sued to block the $11bn merger of US Airways and American Airlines' bankrupt parent, sayi
Read moreFTSE 100 movers: Fresnillo, Wood Group, G4S
13th Aug 2013 13:00
Fresnillo's shares surged after UBS rated its stocks a 'buy', saying it was well placed to handle the volatility of gold and silver prices by keeping costs down and generating free cash flow. Wood Group rallied after Investec raised its target price to 900p from 800p, noting the company's strong p
Read moreBarclays reviews UAE retail banking operations
13th Aug 2013 09:15
Barclays is reviewing its retail banking operations in the United Arab Emirates (UAE) for the possible sale of the business, sources told Reuters. The British bank confirmed it was conducting a review of the business but did not provide any further details. The review is being conducted internall
Read moreEuropean banks need to cut 3.2trn euros in assets
12th Aug 2013 10:46
European banks need to cut 3.2trn euros in assets by 2018 in order to comply with the Basel III regulations. The largest financial institutions need to shed €661bn in assets and come up with €47bn in capital, while smaller banks would be required to remove €2.6trn from their balance sheets, accordi
Read moreMonday newspaper round-up: Co-op Bank, BoE, Vince Cable
12th Aug 2013 07:01
The Co-operative Bank's fund managers are stepping up their fight over unpaid bonuses last year, the latest hurdle for the bank as it tries to tackle its creaking finances, The Times reported. Bank of England Governor Mark Carney's vow to keep interest rates at 0.5% until the jobless total drops to
Read moreLondon close: Stocks jump as optimism over China grows
9th Aug 2013 16:34
Markets rallied strongly on Friday as economic data from the world's top metals consumer, China, sparked some impressive gains in the heavyweight mining sector. A day after trade figures came in ahead of expectations, the outlook for China brightened further with strong industrial production figure
Read moreLondon close: Stocks fall for fourth straight day
7th Aug 2013 17:00
The FTSE 100 finished in the red for the fourth straight day on Wednesday as worries over a withdrawal of stimulus in the US and an underwhelming statement from the Bank of England (BoE) dampened sentiment. Comments from a number of Federal Reserve officials and the ongoing improvement in US econom
Read moreLondon midday: Markets underwhelmed by Carney's dovish guidance
7th Aug 2013 11:38
The FTSE 100 had sunk sharply by Wednesday lunchtime as markets reacted negatively to the Bank of England's (BoE) new forward guidance and improved growth forecasts. All eyes were on new BoE Governor Mark Carney today as he unveiled the central bank's quarterly Inflation Report in which he was wide
Read moreLondon open: Stocks fall as markets await Carney's forward guidance
7th Aug 2013 08:31
Markets opened with moderate losses on Wednesday morning as investors turned nervous ahead of the Bank of England's inflation report, the first under the governorship of Mark Carney. The heavyweight mining sector was again providing a drag on the FTSE 100 as metals prices fell, while a number of b
Read moreSector movers: HSBC drags banks lower after H1 disappointment
5th Aug 2013 15:09
Heavy falls by HSBC, the largest listed company by market capitalisation in London, ensured that the banking sector was the worst performer on Monday, despite some impressive gains from smaller peer Lloyds. HSBC, which has a market cap of around £135bn by today's prices, disappointed analysts this
Read moreLondon close: Disappointing US jobs report sparks late sell-off
2nd Aug 2013 16:27
After a relatively quiet start to the trading session, markets sunk sharply into the red on Friday afternoon after the US economy added far fewer jobs than forecast in July. Non-farm payrolls increased by just 162,000 last month, lower than the downwardly revised 188,000 increase in June and much w
Read more