London close: Markets cement gains after strong US jobs data
8th Mar 2013 16:56
The FTSE 100 registered its highest closing price in over five years on Friday after a key indicator of the US labour market smashed expectations. However, the figures failed to give stocks a boost in afternoon trade as investors pondered whether the data is strong enough to prompt the Federal Rese
Read moreSector movers: Barclays, HSBC lead banks higher
8th Mar 2013 15:50
Strong economic data from the States pushed markets higher on Friday, with the banks benefitting from the bullish mood. UK banking heavyweights Barclays and HSBC were among the best performers on the FTSE 100 in afternoon trade. Barclays hit the headlines on Thursday night after its Chief Executiv
Read moreFTSE 100 movers: Evraz rises on hopes of greater demand from Asia
8th Mar 2013 15:15
Evraz rose into the top spot as the prospects of greater demand from Asia looked up, boosted by the release of a sharp upwards revision to Japanese growth estimates for the last three months of 2012. Shares in financial companies were also making decent gains in early trading as risk appetite incr
Read moreLondon midday: Stocks rise as market prices in strong US jobs data
8th Mar 2013 11:36
Markets maintained their positive bias on Friday morning as traders showed confidence ahead of a key reading of labour-market strength in the US later on, the February employment report. Increased risk appetite in London meant that financial stocks were leading the way higher today. Expectations r
Read moreLondon open: Risk appetite increases ahead of US jobs report
8th Mar 2013 08:25
The FTSE 100 was firmly in positive territory on Friday morning ahead of the crucial US employment report due out this afternoon, with traders hoping that jobs figures could beat forecasts given the solid economic data seen as of late. The US jobs report, out at 13:30 London time, is expected to gi
Read moreBoE says Funding-for-Lending Scheme will 'take time', as lending falls
4th Mar 2013 10:50
Just 13.8bn pounds was drawn down from the Bank of England (BoE) Funding-for-Lending Scheme (FLS) last year, figured published Monday revealed. The research also showed that net lending to UK households and business by FLS participants fell by £2.4bn during the three month period, compared to a ri
Read moreLondon close: Stocks rebound after upbeat US housing data
27th Feb 2013 17:08
Continuing upbeat data from the US housing sector boosted the FTSE 100 in afternoon trade on Wednesday, as stocks tracked Wall Street indices higher. Stocks sank yesterday (FTSE 100 down 1.3%, Cac 40 down 2.7% and FTSE MIB down 4.9%) in the wake of the Italian elections which revealed growing suppo
Read moreSector movers: UK banks gain despite FSA plan to increase competition
27th Feb 2013 15:46
Banking stocks in London were performing well on Wednesday afternoon, rebounding slightly after a political impasse in Italy hammered markets (especially cyclical stocks) the day before. RBS, Lloyds, Barclays and HSBC were in positive territory despite the news that the Financial Services Authority
Read moreBroker snap: Investec upgrades HSBC as disposals continue
27th Feb 2013 10:05
Investec has upgraded its recommendation for global banking giant HSBC from 'hold' to 'add' after the stock's recent underperformance. "After RBS (rated 'sell'), HSBC has been the worst performing UK bank year-to-date," according to Investec analyst Ian Gordon. Including Wednesday's 1.26% gain (to
Read moreWednesday broker round-up UPDATE
27th Feb 2013 08:11
: Panmure Gordon reduces target price from 2159p to 1742p and reiterates its hold recommendation. Antofagasta: JP Morgan cuts target price from 1485p to 1400p, while retaining its overweight rating. Barclays: Numis raises target price from 351p to 400p and upgrades to buy. BT Group: UBS moves tar
Read moreWednesday newspaper round-up: Barclays, JPMorgan, BP...
27th Feb 2013 06:53
Barclays is expected to reveal next week that as many as 600 of its staff are paid more than one million pounds, in the most detailed disclosure yet about how much its 140,000 employees take home each year. In a move that could force rival banks to follow suit, Barclays is preparing to report how mu
Read moreLondon close: Stocks tank on political instability in Italy
26th Feb 2013 16:38
Upbeat economic data from the States wasn't enough to give markets a boost on Tuesday as a political impasse in Italy dampened the demand for cyclical stocks, such as banks. The centre-left party led by Pier Luigi Bersani appears to have won the lower house by a narrow margin though the there was a
Read moreSector movers: GKN lifts autos; RBS leads banks lower
26th Feb 2013 16:16
Engineering giant GKN gave the automobile sector a lift on Tuesday afternoon following its well-received full-year results, while banks were leading the downside as cyclical stocks were hammered in the wake of the Italian elections. GKN, which makes technologies and products for vehicles and aircra
Read moreFTSE 100 movers: GKN rises after strong results and broker comment
26th Feb 2013 15:18
GKN got a boost after Jefferies said that company has a sound platform for solid growth after the engineering group's pre-tax profit came in ahead of its predictions. Chemicals group Croda was also a bright spot after saying that it has made an encouraging start to the new year. The company said t
Read moreLondon midday: FTSE 100 sinks on Italian political impasse
26th Feb 2013 11:37
The Footsie lost over one per cent on Tuesday morning in the aftermath of the Italian national elections, as financial markets reacted to the political uncertainty unravelling in the Eurozone's third-largest economy. The centre-left party led by Pier Luigi Bersani appears to have won the lower hous
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