London midday: Miners drag markets lower after Chinese data
10th Jul 2013 11:33
The FTSE 100 had slipped into the red on Wednesday morning with markets turning cautious ahead of a statement from the Federal Reserve, hoping for indications of when the central bank will begin to taper stimulus. Disappointing trade figures from China were also weighing on sentiment today, pressur
Read moreMoody's upgrades UK banking sector
10th Jul 2013 10:24
Moody's has changed its outlook on the UK banking system to 'stable' from 'negative' to reflect Britain's improved economic prospects. The ratings agency said the more stable UK economy had improved the outlook for borrowers being able to repay debts. There were also encouraging signs for profitabi
Read moreLondon midday: Banks, miners lead markets higher
9th Jul 2013 11:30
Improved appetite for risk helped equities in the banking and mining sectors on Tuesday morning, pushing the FTSE 100 to levels not seen in over a month. London's benchmark index was trading at around 6,500 this morning, a mark not reached since the start of June when markets were beginning to pric
Read moreLondon open: Miners give markets a boost
9th Jul 2013 08:29
Strong gains from mining and banking stocks ensured a strong open for the FTSE 100 on Tuesday morning as sentiment was lifted by improving hopes for the US economy and a bailout deal in Greece. London's benchmark index opened over one per cent higher early on advancing past 6,500, a level not seen
Read moreOsborne endorses proposals to raise banking standards
8th Jul 2013 13:05
UK Chancellor George Osborne on Monday endorsed plans to crack down on banking standards with a set of strict new rules. He said he intends to implement the main proposals from Britain's Parliamentary Commission on Banking Standards (PCBS), including rules that would see senior bankers face jail t
Read moreBarclays' downgrade confirmed bank's risks
5th Jul 2013 10:31
Just when things had started looking up for Barclays, along came Standard & Poor's and cut the bank's credit rating. S&P said the move, announced late on July 2nd, reflected the size of Barclays' investment banking arm and the increased risks faced by that business. The main threats, S&P said, are
Read moreFriday broker round-up UPDATE
5th Jul 2013 08:09
African Barrick Gold: Nomura lowers target price from 200p to 155p, while upgrading from reduce to buy. Barclays: Bank of America reduces target price from 410p to 370p, while leaving its buy recommendation unchanged. BHP Billiton: Investec ups target price from 1919p to 1926p maintaining a buy re
Read moreWizz Air tipped for take off in London
4th Jul 2013 16:10
Wizz Air is reported to be plotting a flotation on the London Stock Exchange. The eastern European budget airliner, which was founded a decade ago, has hired investment banks Barclays, Citigroup and JPMorgan Chase & Co to manage an initial public offering in London, financial website Bloomberg rep
Read moreSector movers: RBS leads banks higher as markets surge
4th Jul 2013 14:51
Every sector in London was trading in positive territory on Thursday as dovish comments by central banks in the UK and Europe sparked a market-wide surge with the FTSE 100 up around three per cent by late afternoon. The Bank of England and European Central Bank both dampened expectations of potenti
Read moreBarclays boss denies conflict with regulators
4th Jul 2013 14:46
Barclays boss Antony Jenkins has denied conflict with regulators after the bank warned it would cut lending to meet strict new capital requirements from the UK's central bank. The Bank of England's (BoE) new Prudential Regulation Authority (PRA) last month announced a 3.0% leverage ratio target on
Read moreLondon midday: Stocks rise as BoE holds fire, markets eye ECB
4th Jul 2013 11:28
The FTSE 100 issued decent gains on Thursday morning, taking advantage of expected low volumes on the back of the Independence Day holiday in the States, with all eyes on central banks in the UK and Europe in the absence of any major economic data today. As expected, the Bank of England (BoE) stood
Read moreBroker tips: Lloyds, ASOS, Dunelm
4th Jul 2013 10:49
An improving picture of the housing market should start to rub off on UK banks, according to Nomura, which is viewing the the sector with 'guarded optimism'. Nomura has upgraded its rating for Lloyds from 'reduce' to 'neutral', saying that the company is now its top pick in the domestic UK banking
Read moreBroker snap: Nomura upgrades Lloyds on housing recovery
4th Jul 2013 09:49
An improving picture of the housing market should start to rub off on UK banks, according to Nomura, which is viewing the the sector with 'guarded optimism'. In a research report released on July 3rd, the broker said that UK house prices are 10% too low and could rise by 15% by the end of 2015 (up
Read moreLondon open: Stocks rise as eyes turn to BoE, ECB
4th Jul 2013 08:25
The FTSE 100 rebounded strongly on Thursday morning after a sell-off the day before, as traders took advantage of thin volumes with markets in the States shut for Independence Day. The Bank of England (BoE) and European Central Bank (ECB) policy decisions will be in focus today with little economic
Read moreLondon close: Political uncertainty hits stocks hard
3rd Jul 2013 16:44
The UK market suffered steep falls on Wednesday as risk appetite was hit by disappointing economic data from China, political uncertainty in Portugal and fears of a military coup in Egypt. Nerves were also on edge ahead of policy decisions from the Bank of England and European Central Bank tomorrow
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