London afternoon: Footsie on fire
8th Jul 2010 14:13
Bullish banks and rising commodity prices have sparked a fresh rally, taking this week's recovery near to 300 points and the leading index to its highest in nine days. Growing optimism about the European bank stress tests and yesterday's forecast upgrade by American peer State Street had buyers all
Read moreGETTING PERSONAL:UBS Rules May Not All Apply To HSBC Account Holders
8th Jul 2010 12:35
(This article was originally published Wednesday.) By Arden Dale A DOW JONES NEWSWIRES COLUMN The crackdown on offshore tax evasion has officially moved beyond UBS AG (UBS, UBSN.VX), and Switzerland. After months of expecting U.S. authorities to reach beyond the Swiss banking giant
Read moreNedbank Share Price Rises On Takeover Report - I-Net
8th Jul 2010 12:21
JOHANNESBURG (I-Net Bridge)--Shares in South African banking company Nedbank Group Ltd. (NED.JO) rose more than 5% Thursday following a report Europe's biggest bank, HSBC Holdings PLC (HBC), is in the early stages of evaluating a bid for it. Sky News reported Thursday that HSBC has appointed inv
Read moreLondon midday: Banks buoyed by IMF report
8th Jul 2010 12:03
Leading shares resumed their upward trek late in the morning session, with banks leading the advance ahead of the announcement of the Bank of England's rate decision announcement. The Bank kept interest rates unchanged at 0.5%, as expected Buyers have been chasing bank prices higher after the Inter
Read moreEuropean Banks Facing Stress Tests Named
8th Jul 2010 10:27
LONDON (Dow Jones)--The Committee of European Banking Supervisors has released the list of 91 European Union banks subject to stress tests. Results of the tests, both in aggregate and on a bank-by-bank basis, will be released July 23. The banks are: Erste Group Bank AG (EBS.VI) Raiff
Read moreEU to stress test 91 banks
8th Jul 2010 10:05
All four of the UK's big banks are on a list to be 'stress-tested' by the European Union to measure their ability to withstand another major financial shock in future. HSBC, Royal Bank of Scotland, Lloyds and Barclays are among 91 banks selected by the EU to face scrutiny, a much greater number tha
Read moreBanque PSA Plans Euro Benchmark 3-Year Bond
8th Jul 2010 09:52
LONDON (Dow Jones)--Banque PSA, the financial unit of French auto maker Peugeot SA (UG.FR), is planning a three-year, euro-denominated, benchmark bond, one of the banks working on the deal said Thursday. Banco Bilbao Vizcaya Argentaria SA, Credit Agricole SA, HSBC Holdings PLC and Royal Bank of
Read moreEuropean Banks Higher After CEBS Details Stress Tests
8th Jul 2010 09:12
By Maarten van Tartwijk Of DOW JONES NEWSWIRES AMSTERDAM (Dow Jones)--European banking shares opened higher Thursday after Europe's banking regulator gave the first details of stress tests that will examine how the sector would stand up to a renewed financial crisis. The tests will look
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
8th Jul 2010 08:58
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0758 GMT [Dow Jones] Expectations that a stress test on U.K. banks will show positive results, added to good banking earni
Read moreMARKET TALK: UK Banks Up On Stress-Test Assurance, US Bank News
8th Jul 2010 08:58
0758 GMT [Dow Jones] Expectations that a stress test on U.K. banks will show positive results, added to good banking earnings news from the U.S., are lifting banks, analysts say. "The (test) results may turn market sentiment around by increasing the visibility for the EU banking sector, where uncert
Read moreMARKET TALK: Credit Suisse Lifts European Banks Weighting
8th Jul 2010 07:53
0653 GMT [Dow Jones] Credit Suisse increases its weighting of European banks to benchmark from 10% underweight, and stays benchmark of US banks. Upgrades European banks as macro factors are now less of a headwind. Also cites valuation, as "European Banks are trading some 20% below the historical nor
Read moreMARKET TALK: HSI +1.5% Midday; Sell Into Strength - Strategist
8th Jul 2010 05:45
0445 GMT [Dow Jones] HSI +1.5% at 20,148.36 midday, bolstered by gains in U.S. stocks; volume improves tad but remains sluggish at HK$24.88 billion. Strategist at brokerage arm of Chinese bank says any HK market rally in short term likely to be aided by Wall Street, on hopes of solid corporate earni
Read moreGETTING PERSONAL:UBS Rules May Not All Apply To HSBC Account Holders
7th Jul 2010 19:56
By Arden Dale A DOW JONES NEWSWIRES COLUMN The crackdown on offshore tax evasion has officially moved beyond UBS AG (UBS, UBSN.VX), and Switzerland. After months of expecting U.S. authorities to reach beyond the Swiss banking giant to other banks, tax advisers say clients with HSBC Holdi
Read morePRESS RELEASE: Moody's Abcp Rating Actions Ending July 5, 2010
7th Jul 2010 18:36
The following is a press release from Moody's Investors Service: New York, July 07, 2010 -- Moody's ABCP rating actions for the seven-day period ended July 5, 2010 THE RATINGS OF THE FOLLOWING ABCP PROGRAMS WERE AFFIRMED AT PRIME-1 DURING THE PERIOD JUNE 29, 2010 THROUGH JULY 5, 2010: HSBC'
Read moreLondon close: Back above 5,000
7th Jul 2010 16:21
Britain's banks staged an impressive turnaround Wednesday that helped carry London out of the red and onto a second day of very respectable gains. High street lenders were unsettled early on as investors waited for details on the nature of European stress tests for about 100 banks. Last-minute hagg
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