London midday: Defensives left behind
19th Mar 2010 12:10
Risers outnumber fallers by around four to one among FTSE 100 constituents as the market continues to enjoy a sentiment boost from an impromptu and upbeat trading update from Lloyds Banking Group. Lloyds will be profitable on a combined businesses basis in 2010, chief executive Eric Daniels claimed
Read moreSector movers: Lloyds buoys banking sector
19th Mar 2010 10:52
Lloyds leads the banking sector after giving an impromptu and upbeat trading update ahead of a presentation at the Morgan Stanley european financials conference today. Lloyds will be profitable on a combined businesses basis in 2010, chief executive Eric Daniels claimed Friday. Daniels said trading
Read moreSunday newspaper round-up: Lloyds, EMI, Vedanta
14th Mar 2010 11:01
Lloyds Banking is believed to be considering plans to hive off a portion of its giant commercial property portfolio into a separate, tax-efficient company. Senior figures within the bank are thought to have put forward the idea, which would see some of the £50bn to £75bn worth of assets and loans in
Read moreFTSE 100 movers: Murdoch gossip lifts BSkyB
12th Mar 2010 15:29
BSkyB has been busy today on talk that Rupert Murdoch is planning to the take the satellite broadcaster private. The Aussie/US tycoon owns 40% of BSkyB already. Analysts were sceptical of the rumour, though apparently there has been a large buyer for the shares recently. Banks are going well with
Read moreHSBC data theft affects 24,000 accounts
11th Mar 2010 10:54
HSBC has admitted that data on about 15,000 customers with accounts in Switzerland has been stolen by a former information-technology employee. Up to 9,000 accounts that had been closed in the past are also said to have been affected. The British bank previously claimed that 'less than 10 clients'
Read moreFriday paper round-up: HSBC, Scottish & Southern, ITV
5th Mar 2010 06:33
The supertax on bank bonuses will reap more than £2.5bn for the Treasury, giving the UK government an unexpectedly large windfall to spend ahead of the general election, a Financial Times survey of 16 global banks has found. Government insiders predict that the receipts of £2.5bn would exceed by ab
Read moreWednesday tips round-up: Meggit, JLT, RBS
3rd Mar 2010 06:41
With every one cent decline in the pound against the US dollar adding £400,000 to defence group Meggitt's prospective pre-tax profits, currency moves alone have been enough to send current-year forecasts higher. Even so, profit progress in 2010 driven more by Meggitt's target of £50m of annualised
Read moreLondon afternoon: Footsie consolidates gains
2nd Mar 2010 14:13
Leading shares consolidated gains over the lunchtime session though it remains a bad day to be invested in the insurance sector. Insurer Prudential is under the cosh again as investors bale out ahead of an expected monster cash call to finance the group's acquisition of AIG's Asian assets. RSA In
Read moreLondon midday: Banks bounce back
2nd Mar 2010 12:08
Although base metal miners have reversed course and are now heading south the FTSE 100 index has added to early gains, helped by a surge in interest in banking shares. Ahead of results tomorrow Standard Chartered is leading the banking sector higher. Part-nationalised lenders Royal Bank of Scotland
Read moreTuesday paper round-up: Sterling, Prudential, HSBC
2nd Mar 2010 06:38
The pound suffered its biggest one-day fall for more than a year yesterday amid the prospect of a hung Parliament and growing fears that this will prevent swift and decisive action being taken over Britain's public finances. Sterling crashed by more than four cents at one stage against the US dolla
Read moreLondon close: Strong finish for FTSE 100
1st Mar 2010 16:30
The leading share index finished on a strong footing as strength in the mining sector and gains on the back of company updates helped offset a weak performance from financial stocks. Miners were in demand following a rise in copper prices following the earthquake in Chile, the world's number one p
Read moreLondon afternoon: Copper-bottomed advance
1st Mar 2010 14:15
Gains on mining stocks are more than offsetting losses in an insurance sector that has been rocked by the prospect of a huge rights call from Prudential. Confirmation that Pru may pay $35bn (£23bn) for the Asian business of troubled US insurer AIG has unsettled the insurers. Any deal would need to
Read moreLondon midday: Pru deal casts shadow
1st Mar 2010 12:01
Gains have been eroded steadily through the morning to leave the leading index up by a baker's dozen as Prudential slumps on rights issue fears and miners step back. Confirmation that Pru may pay $35bn (£23bn) for the Asian business of troubled US insurer AIG ate into London's early 60-point lead.
Read moreLondon open: Footsie strong despite Pru cash call looming
1st Mar 2010 08:46
Leading shares have started the week on a firm footing with miners strong, but the prospect of the Prudential shortly unveiling the largest rights issue ever seen in the UK has unsettled other life groups. Prudential is currently suspended while the details are sorted out. The group has confirmed w
Read moreHSBC profits below par
1st Mar 2010 08:44
Global banking giant HSBC reported pre-tax profits close to market forecasts in 2009, but a bigger than expected loss on the value of its own debt upset investors. Pre-tax profit of $7.08bn (£4.7bn) was slightly less than market expectations and also down 24% from the $9.31bn seen in 2008, as write
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