UK financial reform could be delayed as banks scramble to avoid taxes
1st Sep 2011 10:49
Rumours are flying that reform of the UK's financial sector could be delayed until 2015 - after the next election. Reports from the Financial Times and the BBC claim legislation could be passed to split banks' retail and investment arms before 2015 but not implemented until later. Banks have been
Read moreLondon close: Stocks slump again
18th Aug 2011 16:40
Volatility returned with a vengeance on Thursday, with the leading share index slumping back towards the lows it hit last week. The day got off to a bad start after a gloomy report on global economic growth from Morgan Stanley and things got worse after some more poor figures from the US. The glob
Read moreLondon midday: More losses amid global worries
18th Aug 2011 12:03
London's leading share index is nursing heavy losses now, with global worries over economic growth continuing to hurt sentiment. Miners are among the worst performers, with Kazakhmys, Vedanta and Rio Tinto deep in the red. FTSE 100 mining giants Anglo American, BHP Billiton and Xstrata also fall d
Read moreLondon open: Miners drag Footsie below 5,300
18th Aug 2011 08:34
Just five stocks were making gains at 8.35am on Wednesday, as the blue chip index opened below the 5,300 level. The miners were among the worst performers, with Kazakhmys, Vedanta and Rio Tinto among the heaviest fallers, partially offsetting the gains made yesterday. FTSE 100 mining giants Anglo
Read moreSector movers: Spectris bolsters gains in electronic sector
15th Aug 2011 15:17
Gains for FTSE 250 precision instrumentation and controls company Spectris are bolstering the electronic and electrical equipment sector on Monday. Spectris's shares rose 5% to 1,416p (3.35pm) after it announced that it is to acquire Omega, a privately held US business providing measurement and con
Read moreFTSE 100 Movers: Banks suffer while miners do well
15th Aug 2011 11:47
BP saw a rise despite announcing that its growth could be hampered because it "cannot find skilled workers". With the price of silver on the up it was no surprise to see that precious metals miner Fresnillo was performing well, topping the board at almost 5%. It was a similar story for Kazakhmy
Read moreLondon close: Stocks rally after strong start in US
11th Aug 2011 16:30
The volatile trading continued on Thursday as losses were turned into gains in London on the back of a rally on Wall Street. A steep rise was seen after midday erased earlier losses and helped the Footsie to finish near its highs for the day. Equities were on the rise in morning trade in New York a
Read moreLondon close: Stocks slide after short-lived rally
10th Aug 2011 16:43
London's leading share index almost closed back below the 5,000 point mark after giving up a short-lived rally. Euphoria over US plans to keep interest rates at their current low levels was soon overshadowed by the reason for the plans: the grim economic outlook. Here, the Bank of England has cut
Read moreLondon midday: FTSE 100 stable for now after gains
10th Aug 2011 12:21
Shares are holding onto most of their gains after rallying on the back of the US Federal Reserve's announcement that rates will stay low for two years. Hopes that this will keep the global economy growing has spurred demand for miners, with big-hitters such as Xstrata and Kazakhmys higher, joined b
Read moreLondon open: Strong start as Footsie climbs back over 5,200
10th Aug 2011 08:32
Just three stocks were in the red early on, as the Footsie attempted to claw its way back after a week of turmoil in global markets. The US Federal Reserve last night pledged to freeze short-term US interest rates for two years and opened the door to more quantitative easing, in an attempt to resto
Read moreLondon pre-open: Fed's pledge is shot in the arm to equities
10th Aug 2011 07:53
The US Federal Reserve last night pledged to freeze short-term US interest rates for two years and opened the door to more quantitative easing, in an attempt to restore confidence to battered markets. It seems to have done the trick on this side of the pond where City traders expect the Footsie to
Read moreHSBC expects $2.4bn gain on sale of US businesses
10th Aug 2011 07:03
US bank Capital One has been confirmed as the buyer of HSBC's card and retail services business in the US. The deal, some details of which leaked out over the week-end, will see HSBC sell the businesses at an 8.75% premium to gross customer loan balances, resulting in a consideration of $32.7bn bas
Read moreLondon close: Footsie bounces after morning sell-off
9th Aug 2011 16:45
Following another steep decline in early trading, the Footsie clawed its way back, surging nearly 400 points since the mid-morning to finish 1.89% higher. The blue chip index closed up 96 points. All eyes are on the Federal Reserve's monetary policy meeting, with markets eagerly waiting to hear of
Read moreLondon midday: Stocks bounce back
9th Aug 2011 12:19
The top share index has staged a strong recovery having plunged below the 5,000 point mark amid continued nervousness over economic growth. The Footsie tumbled below the 4,900 mark in mid-morning trade, with the blue chip index losing over 3% of its value for the second straight session. The sell-
Read moreLondon open: Flat start as Antofagasta and Vedanta rally
9th Aug 2011 08:26
Stocks are flat this morning, despite the predictions of a resumption of the slide, though recent volatility suggests it would be foolish to rule that out. Miners are rallying from hefty losses, yesterday, with South American copper group Antofagasta and India's Vedanta posting big gains. Precious
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