Sector movers: Banks move higher
24th Feb 2010 10:14
Investors are bracing for results from banks RBS and Lloyds tomorrow and the following day respectively. Both stocks are higher, but the gains are modest. HSBC leads the sector higher amid reports the bank is expected to announce that its chief executive Michael Geoghegan not receive his 40% pay r
Read moreHSBC to scrap pay rise for CEO
24th Feb 2010 09:30
HSBC, Britain's biggest bank, is expected to scrap a pay rise of almost 40% for its chief executive Michael Geoghegan following shareholder protests. The board will make a final decision on Friday, before HSBC publishes 2009 results on Monday, according to press reports. It is understood that the
Read moreLondon open: Early gains for blue chips
24th Feb 2010 08:54
Financials are keeping Footsie moving forward this morning. Standard Life, HSBC and Aviva are all in demand despite the 100-point fall on the Dow overnight. Reckitt Benckiser is lower again on worries over the inquiry into its sales methods for Gaviscon heartburn products. Mining giant BHP Billit
Read moreWednesday paper round-up: HSBC, Google, RAB Capital
24th Feb 2010 06:32
The European Commission has launched an anti-trust investigation against Google after three online companies alleged that the internet giant's search functions were penalising their businesses. The investigation comes under the Lisbon Treaty's "abuse of dominant position" powers and is the first t
Read moreLondon afternoon: Footsie falls as miners switch sides
3rd Feb 2010 14:32
Mining stocks headed south over the lunch time session, taking the blue-chip index with them. Antofagasta is the worst performer in the mining sector. The copper miner produced 442,500 tonnes of the red metal in 2009, ahead of its original forecast of 433,000 tonnes but lower than the 477,700 tonne
Read moreLondon midday: Merrills takes a shine to banks
3rd Feb 2010 12:08
Footsie ended the morning at an intra-day high, driven by a strong performance from financial stocks and miners. Standard Life is the top riser after it announced a 'significant increase' in flows and sales in the fourth quarter. Life and pensions net inflows more than tripled to £1.3bn from £0.4bn
Read moreSunday newspaper round-up: ITV, GSK, HSBC
31st Jan 2010 11:40
In the coming months, chairman Archie Norman, who was joined by former Royal Mail head Adam Crozier as chief executive, are expected to consider the possibility of a pay-per-view package for ITV 2, 3 and 4 among a range of options as ITV benefits from a slowly improving economic climate, says the Su
Read moreLondon close: Strong finish for FTSE 100
29th Jan 2010 16:38
Footsie gave up a recent weak spell to finish the week with good gains. Whitbread was the star performer. Following an investor day yesterday, Barclays Capital raised its price target on the Costa Coffee and Premier Inn owner to 1,700p from 1,600p. The broker thinks Whitbread will benefit from new
Read moreFTSE 100 movers: Banks and miners recover
29th Jan 2010 15:34
The FTSE 100 index is recovering today with banks and miners leading the way. Negative broker comment has not hampered the banks. FBR Capital Markets has been running its rule over UK banks and has cut its price target for HSBC from 893p a share to 800p a share "to reflect a similar level of conse
Read moreLondon midday: RBS unit sued for $8bn
29th Jan 2010 12:10
After a mid-morning dip blue-chips are on the rise again, though it is not the sort of advance that is likely to change investors' view that January was a month to forget. For once, the miners are not moving in lock step with each other. Sector giants Rio Tinto and BHP Billiton are firmer, while go
Read moreThursday newspaper round-up: HSBC, Barclays, Morrison
28th Jan 2010 05:58
Alistair Darling is to meet the chiefs of top British and American banks at a secret meeting in Davos tomorrow to hear their concerns about the introduction of tough new sanctions against the banking sector. The Times has learnt that the bosses of HSBC, Barclays and Standard Chartered, and top exec
Read moreLondon close: Footsie snaps 4-day losing streak
26th Jan 2010 16:25
Top stocks staged a recovery late afternoon as Wall Street reacted well to US consumer confidence at a 16-month high. Standard Chartered was a bright spot after Nomura said the recent share price fall represents a buying opportunity. The Japanese broker upgraded the Far East focused bank to 'buy'
Read moreHSBC chairman attacks bank bonuses
26th Jan 2010 13:03
HSBC chairman Stephen Green has hit out at 'distorted' banker's bonuses and predicts pay-outs will be lower in future. 'In banks' remuneration, there's been plenty of distortion,' he said in an interview with the Financial Times. 'You've had bonuses paid off gross income, you've had bonuses paid of
Read moreTuesday newspaper round-up: UK recession, HSBC, Porsche
26th Jan 2010 06:31
Britain will be declared to have emerged from the deepest recession for a generation today with political leaders more divided than ever about how to sustain recovery. On the eve of figures expected to show that the economy grew by 0.4%in the last three months of last year, Gordon Brown and David
Read moreLondon close: Downward drift continues
25th Jan 2010 16:33
Nervousness returned to the markets after an indecisive start, sending Footsie to another day of losses on top of last week's slump. British American Tobacco, National Grid, GlaxoSmithKline and Scottish & Southern Energy were among the fallers. Miners were also hit, with ENRC, Anglo American and R
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