FTSE 100 movers: Polymetal rises after strong results
8th Apr 2013 15:28
Precious metals giant Polymetal was a high riser early on after managing to hold back on costs in 2012 despite a strong rise in production. The company also raised its payout ratio to shareholders last year as it reported a 47 per cent jump in adjusted EBITDA. Aberdeen Asset Management was another
Read moreBritain's biggest banks to foot regulation bill
8th Apr 2013 14:41
Britain's biggest banks will be asked to pay more towards the cost of regulating the financial sector under the government's new so-called "twin peaks" system of supervision, Sky News reported Monday. The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA), which took over r
Read moreBroker snap: Investec upgrades HSBC to 'buy', but prefers StanChart
5th Apr 2013 10:28
Investec has turned more bullish on global banking giant HSBC, upgrading the stock from 'add' to 'buy', but has retained a clear preference for sector peer Standard Chartered (also rated 'buy'). Analyst Ian Gordon said in a research note on Friday that both HSBC and StanChart are expected to delive
Read moreThursday tips round-up: Barclays, Chemring, AstraZeneca
4th Apr 2013 07:20
Yesterday's Salz report into what went wrong at Barclays makes for interesting reading but adds little to the promises which have already been made. Nevertheless, it does shine a light on some problems, such as that of high pay for average performers. In any case, the review will help hold the new g
Read moreThursday newspaper round-up: Bank of Japan, Barclays, IAG...
4th Apr 2013 06:44
The Bank of Japan overnight said it would double its monetary base over the next two years through the aggressive purchase of long-term bonds, 'in a bold policy aimed at ridding Japan of the deflation that has dogged the country for almost two decades', according to the Financial Times. The Central
Read moreSunday newspaper round-up: RBS, Cyprus, Bedroom-tax
31st Mar 2013 16:26
It is understood that Royal bank of Scotland (RBS) will make even deeper cuts to its investment banking wing in an effort to meet the Bank of England's (BoE's) new financial policy committee's (FPC) target. The FPC last week called on lenders to raise 25bn pounds in new capital to offset any potenti
Read moreThursday newspaper round-up: Great Western, BP, Centrica...
28th Mar 2013 06:52
The Telegraph says that four of the UK's largest train operators - Arriva, FirstGroup, National Express and Stagecoach - have dropped lawsuit worth 40m pounds against the government to recover costs during the franchises process for Great Western that was scrapped earlier this year. The Clair proje
Read moreLondon close: Stocks weighed down by Eurozone concerns
27th Mar 2013 17:31
Political wrangling in Italy and uncertainty in Cyprus resulted in a volatile day for London's FTSE 100 index on Wednesday, though stocks bounced well off their lows in afternoon trade. The Footsie dropped to an intraday low of 6,344 at midday, but had recovered to 6,388 by the close, tracking a sl
Read moreBarclays to sell CoCos to boost loss-absorbing capital
27th Mar 2013 15:28
Barclays is marketing another round of contingent capital bonds (CoCos) to boost its loss-absorbing capital, just as the Bank of England (BoE) warned of a 25bn-pound capital shortfall in UK financial institutions. Several media reports suggested on Wednesday that the bank is meeting with investors
Read moreLondon midday: Financials provide a boost after 11th-hour deal in Cyprus
25th Mar 2013 11:35
Financial stocks were performing well on Monday morning, pushing the FTSE 100 one per cent higher, following Cyprus' 11th-hour deal with the Troika to save itself from financial collapse. "Cyprus has avoided becoming the first country to default on its debt and exit the Eurozone, after agreeing on
Read moreLondon open: Markets rise on last-minute deal to save Cyprus
25th Mar 2013 08:20
Stocks advanced strongly on Monday morning after 11th-hour talks to save Cyprus from default resulted in a last-minute bailout deal with the Troika. "Markets clearly appear to be more hopeful than they ought to be on the Eurozone muddling through this crisis - this would suggest that any potential
Read moreRetail sales rebound in February, data shows
21st Mar 2013 11:49
Retail sales rose more than expected in February, boosted by strong demand for tablet devices, the Office for National Statistics (ONS) revealed Thursday. Total sales increased by 2.1% last month, compared with -0.7% in January, beating the 0.4% consensus. Core sales, excluding fuel, increased by
Read moreThursday newspaper round-up: Cyprus, Bank of England, Barclays
21st Mar 2013 06:43
Russian prime minister Dmitry Medvedev has lambasted the EU's handling of the Cyprus debt crisis, comparing a plan for a levy on bank deposits to measures that hurt savers under the Soviet Union. However, Moscow has yet to offer any concrete help to the Cypriot government,the FT reports. Cyprus on
Read moreBarclays bonuses announced on Budget day
20th Mar 2013 15:39
Barclays sparked outrage Wednesday as it was accused of trying to 'bury bad news' by revealing bonuses paid to executives on the same day as the UK Budget 2013. The bank announced details of multimillion-pound bonuses to top bosses including Chief Executive Antony Jenkins and the head of its invest
Read moreLondon close: Stocks trim losses as bank-run fears subside
18th Mar 2013 16:44
After registering sharp declines early on, stock markets across Europe had clawed back losses by the close of trade on Monday, as concerns of a contagious bank run across the Eurozone periphery were eased. Markets suffered a steep sell-off in the morning session after this weekend's controversial b
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