Wizz 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
Read moreFTSE 100 movers: China concerns weigh heavily on miners
3rd Jul 2013 15:08
Mining stocks were once again bearing the brunt of a fall in risk appetite on Wednesday as concerns over demand for commodities were sparked by some disappointing economic data from China. Anglo American, Glencore Xstrata, BHP Billiton, Vedanta and Antofagasta were among the worst performers. Lead
Read moreLondon midday: Stocks hit by political uncertainty, economic data
3rd Jul 2013 11:26
Political uncertainty in Europe, disappointing economic figures from China and nervousness ahead of some key 'risk events' later this week prompted a sell-off on the FTSE 100 on Wednesday morning. Resignations of both the Portuguese Finance Minister and Foreign Minister over the last few days have
Read moreLondon open: Risk appetite sinks ahead of key economic data
3rd Jul 2013 08:25
The FTSE 100 dropped sharply in early trading on Wednesday as economic data from China continues to disappoint, while nerves were setting in ahead of some key risk events later on in the week. Activity in China's services sector remained sluggish in June with the official non-manufacturing purchasi
Read moreS&P downgrades three European banks, including Barclays
3rd Jul 2013 08:07
Ratings agency Standard&Poor's (S&P) overnight cut its long-term counterparty credit ratings on three European banks - Barclays, Deutsche Bank and Credit Suisse - by one notch, to A from A+. The outlook on all of the ratings is 'stable' at the moment. In its analysis the agency highlights the nox
Read moreBoE to implement bank leverage rule
2nd Jul 2013 14:52
Bank of England (BoE) is set to go ahead with a new rule to crackdown on banks' capital to lending ratio despite lobbying against the plan. Policymakers said on Tuesday the central bank would introduce a new curb on banks' risk exposure based on their leverage. BoE's Andrew Bailey believes the ne
Read moreLondon close: Stocks rise on first day of Carney's mandate
1st Jul 2013 17:24
Equities began the third quarter on a strong note, buoyed in part by a bullish note from strategists at JP Morgan on commodity prices. Alongside a slightly better than expected reading on US manufacturing that helped to compensate for a somewhat weak reading on Chinese manufacturing overnight. Coinc
Read moreEU accuses Barclays and HSBC of anti-competitive practices
1st Jul 2013 14:22
The European Commission has accused 13 major international investment banks of abusing their power to stop rivals from offering alternative ways to trade lucrative credit derivatives. The banks, including Barclays and HSBC, are charged with trying to prevent competitors from trading profitable prod
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