London 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
Read moreFTSE 100 movers: Inmarsat rises, banks fall
9th May 2011 13:32
Satellite communications giant Inmarsat is topping the risers after first quarter revenue rose by 15% boosted by payments from its agreement with US telecom group LightSquared. The banking sector is under the weather: Barclays' shares fell after it reported that it is setting aside £1bn to cover t
Read moreHigher costs dent HSBC profits
9th May 2011 09:40
Global banking leviathan HSBC saw first quarter profits slide as it faced revenue headwinds in its Global Banking and Markets division. Net operating income before loan impairment charges and other credit risk provisions dropped to $17.04bn from $17.93bn the year before. Japanese broker Nomura Se
Read moreMonday newspaper round-up: Greece, Barclays, GDP
9th May 2011 06:26
The Chancellor has ruled out British participation in a further bailout of Greece as the eurozone grapples with the country's debt crisis. George Osborne said yesterday that the UK had been a "reluctant partner" in Portugal's rescue and would not be writing further cheques for the Greeks. His commen
Read moreWeek Ahead: HSBC, IHG, IMPs
6th May 2011 12:50
Banking results season draws to a close with HSBC's first quarter update on Monday. The recent updates from Lloyds and Royal Bank of Scotland have not been short of detail and HSBC's statement may be similarly thorough, with updates on a number of key profit and loss items and balance sheet metrics
Read moreTuesday newspaper round-up: Lloyds, HSBC, Barclays
26th Apr 2011 06:31
Lloyds Banking Group, which is now 43% owned by the taxpayer, is reported to be considering a sale of its pensions and insurance business Scottish Widows. The group's new chief executive, Antonio Horta-Osorio, is said to be poised to offload the subsidiary, possibly together with the bank's 60 per c
Read moreThursday newspaper round-up: BT, Prudential, HSBC
21st Apr 2011 06:06
The Government could suspend the internet accounts of illegal downloaders after a challenge to new laws was overturned in the High Court. Justice Kenneth Parker rejected an appeal by BT and TalkTalk which claimed that the Digital Economy Act 2010 was seriously flawed and 'incompatible' with European
Read moreBroker snap: HSBC upgraded on Asian position
20th Apr 2011 14:29
Morgan Stanley has upgraded banking giant HSBC to 'overweight', from 'equal-weight', saying that the group's performance could improve "meaningfully from 2010" as a result of its position in the Asian market. The broker believes that the market is missing the turnaround in Asia because after more t
Read moreFTSE 100 movers: ARM gets a lift from Intel
20th Apr 2011 13:12
Chip giant ARM Holdings is the best performer on the FTSE 100, boosted by last night's bullish report by US peer Intel, which predicted that second quarter sales will come in at about $12.8bn (give or take $500m), ahead of analysts' estimates. Copper and gold prices have boosted the miners, with X
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