London 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
Read moreHSBC boss to give bonus to charity
28th Feb 2010 12:01
HSBC chief executive Michael Geoghegan will break ranks with his rivals at other UK banks and accept a £4m bonus for last year, but immediately hand it onto charity. HSBC has received no state support during the banking crisis and feels it should be allowed to make its own decisions on remuneration
Read moreSunday newspaper round-up: M&S, HSBC, Prudential
28th Feb 2010 11:23
Shareholders in Marks & Spencer are preparing for a fresh showdown with the retail giant over the £1.13m pay package of Sir Stuart Rose, the executive chairman. Institutional investors want M&S to slash Rose's annual salary when Marc Bolland, the new chief executive, joins in May. One big sharehol
Read moreWeek Ahead: HSBC, Standard Chartered, BoE rate decision
26th Feb 2010 11:36
The banking results season has coincided with 'bonus waiving' season this time round and when Asia-focused banking groups HSBC and Standard Chartered release full year figures next week attention is sure to be focused as much on management bonuses as on the numbers. The board of HSBC reportedly met
Read moreThursday newspaper round-up: RBS, HSBC, VT Group
25th Feb 2010 05:57
The Government has cleared Royal Bank of Scotland to pay its 17,200 investment bankers £1.3bn in bonuses despite losses for the year reaching £5bn across the group. The performance awards equate to £75,000 each and will lift total average earnings to £150,000. In discussions with UK Financial Inve
Read moreLondon close: Carnival provides lift
24th Feb 2010 16:55
Footsie closed slightly higher, with Carnival giving London's blue chips a lift after announcing that it is going to increase the price of its cruises. Carnival was leading the FTSE 100 higher after the cruise operator said it will be lifting ticket prices following strong reservations activity for
Read moreLondon afternoon: Stocks steady at higher levels
24th Feb 2010 14:12
London has moved into consolidation mode in the afternoon session, ahead of a moderately firmer opening on Wall Street. HSBC remains the top performer as reports circulate that the company is preparing to sell its train leasing business for around £2bn. Sentiment towards the bank is also sweetened
Read moreLondon midday: HSBC rolls higher on train sale rumours
24th Feb 2010 12:04
Banks are leading the market's advance today, more than offsetting weakness among miners. HSBC was the morning's top performer as reports circulate that the company is preparing to sell its train leasing business for around £2bn. Sentiment towards the bank is also sweetened by reports that the boar
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