FTSE 100 movers: Glenore dismisses rumours, shares drop
15th Jun 2011 14:08
Glencore is the worst performing stock on the blue chip index as of Wednesday afternoon. In a brief statement in response to press speculation, the commodities trader stated that it is not actively considering an offer for Kazakh mining company Eurasian Natural Resources Corporation (ENRC). The offi
Read moreBroker tips: HSBC, London & Stamford, Game
15th Jun 2011 12:55
UBS cuts its target price for HSBC by 7%, from 708p to 655p, based on expectations of lower long-term growth for the global banking giant. "We believe implicit in its goals are healthy EPS [earnings per share] growth and faster dividend growth. However, with news likely on these in March 2013, we h
Read moreBroker snap: Lower long-term growth at HSBC, says UBS
15th Jun 2011 12:01
UBS cuts its target price for HSBC by 7%, from 708p to 655p, based on expectations of lower long-term growth for the global banking giant. "We believe implicit in its goals are healthy EPS [earnings per share] growth and faster dividend growth. However, with news likely on these in March 2013, we h
Read moreBritish banks face ring-fence between retail and investment arms
15th Jun 2011 10:36
British banks are to be forced to ring-fence their retail and investment operations. The idea is to protect high street bank customers losing their savings if investment bankers suffer heavy losses, as they did during the financial crisis of 2008. The Chancellor of the Exchequer, George Osborne, i
Read moreLondon close: Stocks hold on to gains
27th May 2011 16:46
Stocks held on to gains going into a long weekend, as Wall Street opened up higher. After a sharp rise in early trading, the Footsie maintained its level around the 5,930-40 mark for the rest of the day, helped by strong showings from the miners and the banks. Just seven stocks finished in the red.
Read moreLondon midday: Banks provide a boost
27th May 2011 12:05
The Footsie is around 1% higher at the midday point, holding on to early gains. The banking sector is performing well today after positive comments from Citigroup. The US bank upped its rating on European banks to 'overweight', saying that the recent decline in the share prices provides a good entr
Read moreSector movers: Burberry lower ahead of results
25th May 2011 15:52
Burberry, the luxury fashion brand, is dragging the personal goods sector lower. The group is due to report its final results on Thursday, and revealed in April that it expects profits for the year to 31 March to be at the top end of forecasts, after a strong final quarter. Shares have risen by ar
Read moreAviva motoring
17th May 2011 07:15
Insurance giant Aviva highlighted the performance of its UK general insurance sales, which topped the billion pounds mark, as it made a solid start to the year. Net written premiums in the first quarter of 2011 were up 9% on the corresponding quarter and up 14% on the preceding quarter at £2.69bn.
Read moreLondon close: FTSE 100 back below 6,000
11th May 2011 16:51
After a calm start following good gains yesterday, shares took a sharp dive into the red as economic worries resurfaced. Despite a strong first start to the year, terrestrial broadcaster ITV, one of today's strugglers, has warned that it is facing tougher comparatives in the current quarter, meanin
Read moreFTSE 100 movers: ITV leads the fallers
11th May 2011 14:44
Terrestrial broadcaster ITV is the worst performing stock after warning that it is facing tougher comparatives in the current quarter, meaning that the firm could underperform the market in the first half. Banking giant HSBC is lower after announcing that it is to cut costs and may abandon some bu
Read moreLondon midday: FTSE 100 pauses after rally
11th May 2011 12:13
Shares are seeking direction following yesterday's big gains, with stocks moving in both directions on the back of updates. Despite a strong first start to the year, terrestrial broadcaster ITV has warned that it is facing tougher comparatives in the current quarter, meaning that the firm could und
Read moreLondon open: ITV takes a tumble
11th May 2011 08:29
The Footsie has opened up lower, with ITV providing a drag, taking a tumble in early trading. Despite a strong first start to the year, terrestrial broadcaster ITV has warned that it is facing tougher comparatives in the current quarter, meaning that the firm could underperform the market in the fi
Read moreLondon pre-open: BP gets green light from Brazil
11th May 2011 07:32
City sources predict the FTSE 100 will open 14 points up from yesterday's close of 5,6019, as London looks set to follow in Wall Street's foot steps. Banking giant HSBC has unveiled some details of its new strategic plan in which it will direct investment to fast growing markets while cutting back
Read moreHSBC may be less local in some parts of world
11th May 2011 07:04
Banking giant HSBC is to cut costs and may abandon some business areas in order to direct investment to faster growing markets. The group plans to focus on wealth management in 18 of the "most relevant" economies while limiting retail banking to those markets where it believes it can achieve profit
Read moreBanks cave in over PPI
9th May 2011 14:45
The banking industry has admitted defeat in its legal battle over the mis-selling of payment protection insurance (PPI). The British Bankers' Association (BBA) announced on Monday it would not appeal against a ruling by the High Court in favour of tough new rules on selling PPI. Several million pe
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