London midday: Market remains in the red
16th Mar 2011 11:50
The decline in the FTSE 100 appears to have bottomed out although there are continuing worries over the post-earthquake situation in Japan. A fire at the plant's fourth reactor sent radiation levels soaring and forced what few workers are left battling the potential disaster to retreat. Japan's Emp
Read moreHSBC Bermuda sells insurance management business
11th Mar 2011 07:02
HSBC Bank Bermuda, a subsidiary of banking giant HSBC, has sold its insurance management business to Kane Group, a provider of specialist risk and insurance management services. Kane is buying HSBC Insurance Holdings (Bermuda) Limited, HSBC Insurance SPC Limited and the insurance management busines
Read moreCredit Suisse prefers UK banks
9th Mar 2011 08:56
Credit Suisse has downgraded European banks to benchmark from a small overweight position in the second half of 2010, instead preferring UK lenders like HSBC and Barclays. It thinks Continental European banks could be hurt by an ECB policy "error" - a rate rise in April - and significant uncertaint
Read moreHSBC denies London move talk
6th Mar 2011 18:38
HSBC has rejected reports it has decided to move its headquarters from London to Hong Kong. A story in the Sunday Telegraph claimed major investors in the giant bank had been told that "a move is now more than likely". In a joint statement, the bank's chairman Douglas Flint and chief executive Stu
Read moreSunday newspaper round-up: HSBC, BSkyB, Virgin Money...
6th Mar 2011 10:53
HSBC has told its biggest shareholders that it is preparing to quit London in a shock move that it said is now "more likely than not". Britain's biggest bank, which has been headquartered in the capital for 19 years, warned key investors that last week's disappointing full-year results have made ar
Read moreLondon close: Lower finish as Libya turmoil persists
4th Mar 2011 16:56
The top share index closed in the red going into the weekend as the spectre of high oil prices remerged amid continuing turmoil in Libya. Brent crude rose above $116 a barrel as the conflict in Libya continues. Government forces have been cracking down on protesters in Tripoli and there have been c
Read moreLondon afternoon: Footsie turns red
4th Mar 2011 15:19
A weak start on Wall Street has sent London to an intra-day low, with miners turning tail. US monthly non-farm payrolls were better than expected, but not by much. Investors don't look keen to open up any new positions ahead of the weekend. Mining heavyweights Rio Tinto, Anglo American and Kazakh
Read moreFTSE 100 movers: Capita rises on Zurich talks
1st Mar 2011 13:39
Capita is the best performer in the footsie after the outsourcer revealed that it is in talks with insurer Zurich about performing some administrative tasks. The talks cover the UK and as well as some of Zurich's European administrative operations. Mexican miner Fresnillo is investing $800m in it
Read moreBroker tips: IAG, GKN, HSBC
1st Mar 2011 13:00
Charles Stanley upgrades its recommendation and target price for International Consolidated Airlines (IAG) as its market value has now factored in the rising prices of crude oil. Since the stock floated on 24 January, formed by the merger of British Airways and Iberia, €1.3bn has been wiped off the
Read moreBroker snap: Growth limited at HSBC
1st Mar 2011 12:00
Nomura keeps a cautious eye on HSBC as revenue growth at the global banking giant has "limited momentum". Analyst Robert Law says that "revenue growth is likely to remain challenged by continued low interest rates, lower Balance Sheet Management (BSM) revenues and the impact of the run-off of non-c
Read moreTuesday tips round-up: HSBC, Senior, Bloomsbury...
1st Mar 2011 06:43
HSBC looks like a good hold with a high dividend yield of 3.9% and a forecast price earnings multiple for 2011 of 11.2. It is true that Asia offers fantastic earnings opportunities, but there are cheaper ways to gain that exposure and with European recovery priced so cheaply at the moment - Lloyds
Read moreTuesday newspaper round-up: Food prices, Libya, Pearson...
1st Mar 2011 06:37
The City watchdog plans to investigate the way in which banks' retail sales forces are rewarded amid fears that some clients are being pushed to buy "inappropriate" products. Lord Turner of Ecchinswell, chairman of the Financial Services Authority, told The Times that he intended to investigate pay
Read moreLondon close: FTSE 100 rally falls short
28th Feb 2011 16:51
The top share index failed to sustain a rally that came on the back of strength in the US and closed a few points lower. A slight easing in the oil price lightened the mood. Crude had edged up in the morning session amid continuing turmoil in Libya and the spread of protests to the Gulf state of Om
Read moreSector movers: HSBC drags banks lower
28th Feb 2011 14:33
The banking sector is lower on the day HSBC released its 2010 full-year results. Shares in the global banking giant are 6% down Monday afternoon following its decision to cut its return on equity target after analysing the likely effects of new banking regulations. Pre-tax profits increased by 169
Read moreLondon afternoon: Footsie waxes as oil price wanes
28th Feb 2011 14:29
Shares staged a recovery over lunch, boosted by indications of a firmer start on Wall Street and a weakening of the oil price. Oil prices had edged up in the morning session amid continuing turmoil in Libya and the spread of protests to the Gulf state of Oman. Brent crude for April delivery was abo
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