London 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
Read moreFTSE 100 movers: M&S leads risers on Qatar rumours
18th Mar 2013 15:43
Takeover speculation at M&S stepped up a gear this weekend with Qatar's sovereign wealth fund thought to be mulling a bid for the High Street giant worth eight billion pounds. According to the Sunday Times, the Qatar Investment Authority is said to be assembling a consortium of private-equity invest
Read moreLondon midday: Banks, miners drop after controversial bailout deal in Cyprus
18th Mar 2013 11:44
Markets were in risk-off mode on Monday morning as fears over the Eurozone debt crisis resurfaced after a deal to bail out Cyprus sparked a run on banks across the country. Banks and miners were bearing the brunt of the sell-off in London after Cyprus' €10bn bailout deal with the Troika - a move in
Read moreBroker snap: Nomura prefers HSBC and StanChart among UK banks
18th Mar 2013 11:03
Nomura has reviewed its ratings in the UK banking sector, reiterating its preference for emerging markets-focused lenders HSBC and Standard Chartered, both rated 'buy'. The broker said it continues to have a "defensive/growth bias" within the sector and believes that both HSBC and StanChart are "we
Read moreLondon open: Fears of Cypriot bank run sink stocks after bailout deal
18th Mar 2013 08:27
Fears of a bank run in Cyprus and contagion across the wider Eurozone sparked a mass sell-off on European stock markets on Monday, as the Eurozone debt crisis rears its ugly head once again. Analysts at UniCredit said in their morning note to clients that markets would be in a "risk-off mood" today
Read moreThursday broker round-up UPDATE
14th Mar 2013 07:11
Amara Mining: After having been under review, Cantor Fitzgerald reinitiates coverage with a price target of 81p and a buy recommendation. Antofagasta: Citigroup shifts target price from 990p to 1000p, but retains its sell recommendation. Ashtead Group: Investec raises target price from 475p to 700
Read moreLondon close: FTSE 100 breaches 6,500 despite mixed data
11th Mar 2013 16:30
The FTSE 100 breached the psychological barrier of 6,500 on Monday afternoon, hitting fresh five-year highs, though gains were only slight given a barrage of mixed economic data released earlier in the session. The fact that a number of benchmark indices around the globe are trading at (or close to
Read moreFTSE 100 movers: Banks decline on calls for operations to be divided
11th Mar 2013 15:09
Barclays and RBS were both in the biggest fallers after the Parliamentary Commission on Banking Standards called for British banks to be forced to divide its routine retail operations from investment operations. The panel is looking for ways to bring about banking reform as part of the Banking Refor
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