London open: Footsie back above 6,000
11th Jan 2011 08:50
UK blue chips have raced away this morning led by the banks as the government caved in on the issue of bonuses. As a trade-off for no additional taxes on the expected £7bn of UK bonuses this year, the banks are in talks to raise their business lending by 10%, or £20bn, to £200bn. Shares in Barclays
Read moreSunday newspaper round-up: Royal Bank of Scotland, Bank bonuses, Xstrata...
9th Jan 2011 10:00
Stephen Hester, the chief executive of the Royal Bank of Scotland, is to be paid almost £7m just two-and-a-half years after the state-controlled bank was bailed out by taxpayers. Mr Hester, parachuted in to rescue RBS at the height of the 2008 financial crisis, will take home an estimated £6.8m in
Read moreLondon close: FTSE 100 hits 6,000
23rd Dec 2010 16:37
It was a quiet the markets on the last full day of trading before Christmas, but the top share index's attempt to inch past the 6,000 point mark proved an exciting spectacle. A final push ensured that symbolically important feat was achieved, but FTSE 100 closed just below that level, last seen in
Read moreLondon afternoon: Stocks come off the top
23rd Dec 2010 14:24
Footsie's assault on 6,000 has run out of steam and the blue-chip index is now barely holding on to gains. Mortgage lending fell to a 20-month low in November new figures from the British Bankers' Association (BBA) show, underlining the weakness the housing market is currently experiencing. Oil pr
Read moreLondon midday: Stubborn FTSE 100 stays below 6,000
23rd Dec 2010 12:08
Domestic economic data has failed to jolt the top share index into life, but a raft of data from the US could trigger a move above 6,000 points later this afternoon. Mortgage lending fell to a 20-month low in November new figures from the British Bankers' Association (BBA) show, underlining the wea
Read moreKeir global head of commercial banking at HSBC
23rd Dec 2010 09:37
Global banking giant HSBC has named Alan Keir as its global head of Commercial Banking, with effect from the start of 2011. Keir, currently head of Commercial Banking Europe, will join the group management board chaired by HSBC's chief executive-designate, Stuart Gulliver. He will remain based in
Read moreLondon open: Assault on 6,000 begins
23rd Dec 2010 08:15
Blue chips have had a first stab at hitting the magic 6,000 level following gains in the US overnight and are regrouping after falling just one point short. Insurer Old Mutual is among the early winners, followed by Sainsbury's and Kingfisher, but ARM is giving back a little of yesterday's big gain
Read moreWednesday newspaper round-up: Vince Cable, Citigroup, UK banks
22nd Dec 2010 06:02
Vince Cable was stripped of key roles on the media and telecoms tonight after he told undercover reporters he had "declared war on Rupert Murdoch" and planned to block his efforts to take full control of BSkyB. Dr Cable survived as Business Secretary on the insistence of Nick Clegg. But in a humilia
Read moreLondon close: FTSE 100 shrugs off weather woes
20th Dec 2010 16:44
Shares held onto gains to close in positive territory despite the bad weather hitting travel and retail stocks. Snow-affected stocks such as British Airways and many of the major retailers fell. Arctic conditions are hurting retailers at their busiest and most crucial time of the year. Next, Marks
Read moreLondon afternoon: Shares stay buoyant despite weather hit
20th Dec 2010 15:25
Footsie is still hovering around 5,900 points following a mixed start on Wall Street. Snow-affected stocks such as British Airways and many of the major retailers have trimmed losses. Arctic conditions are hurting retailers at their busiest and most crucial time of the year. Next, Marks & Spencer,
Read moreLondon midday: Footsie tops 5,900
20th Dec 2010 12:00
Things turned around dramatically in the hour before lunch as the session came alive after a rather dull start, nudging a 2½-year high by midday. Defensive issues are still going well. National Grid, Scottish & Southern Energy and British Gas owner Centrica are expected to benefit from the cold sn
Read moreOsborne has to wait for bank bonus face-off
20th Dec 2010 08:53
The chancellor and business secretary's showdown with the banks has been postponed because of the weather. George Osborne, stranded in New York, and Vince Cable, had been due to threaten Britain's five largest banks with further taxation and regulation unless they water down this year's bonus round
Read moreMonday newspaper round-up: Bank bonuses, snow, BSkyB
20th Dec 2010 06:30
George Osborne and Vince Cable will today pile pressure on senior bankers by threatening tax rises and further regulations if they go ahead with another bumper round of bonuses. The Chancellor and the Business Secretary are meeting the chief executives of the five largest banks ? the Royal Bank of S
Read moreBroker tips: UK banks, Serco, Misys
16th Dec 2010 14:29
Nomura highlights the attractive valuations of EU banks, but says the sector is volatile and its preference if for northern European commercial banks over those in the south. According to Peace, southern European banks are under a greater earnings risk than the northern sector due mostly to the imp
Read moreBroker snap: North European banks get nod over the south
16th Dec 2010 12:08
Nomura highlights the attractive valuations of EU banks, but says the sector is volatile and its preference if for northern European commercial banks over those in the south. Analyst Jon Peace says the sector valuation is low after recent macro-related underperformance, and ongoing uncertainty surr
Read more