Sector movers: HSBC cheer offsets Barclays gloom
10th Nov 2009 10:52
Banking is one of the best performing sectors despite mixed results. HSBC leads the sector higher, after saying it is seeing some stabilisation in its bad debts picture, especially in the US, while elsewhere business generally remains strong. "Overall, loan impairment charges and other credit risk
Read moreLondon open: Early improvement
10th Nov 2009 08:33
UK shares have started to edge higher after an initial pause as investors weigh up a flood of results from some of the country's biggest companies. Schroders leads the way following a smaller than expected 19% drop in third quarter profit. The fund manager made a profit before tax and exceptional i
Read moreHSBC encouraged by bad debt picture
10th Nov 2009 08:17
Giant global bank HSBC is seeing some stabilisation in its bad debts picture, especially in the US, while elsewhere business generally remains strong. "Overall, loan impairment charges and other credit risk provisions declined in Q3 2009 from earlier in the year and were at their lowest quarterly l
Read moreTuesday preview: HSBC, Barclays, Vodafone
9th Nov 2009 15:43
A barrage of big company results are due out Tuesday, with the biggest company by market value, HSBC, the heaviest of the heavyweights declaring figures. Third quarter results from the Asia focused banking giant should provide a stark contrast to the figures last week from part-nationalised lender
Read moreBroker snap: HSBC & Barclays preferred to RBS
9th Nov 2009 13:26
Nomura Securities continues to take a cautious stance on rescue case Royal Bank of Scotland and recommends clients should reduce exposure to the stock. 'We do not believe the group has surplus capital, as the apparently significant capital strengthening will be absorbed by further losses and involu
Read moreBroker tips: RBS, Prudential, Cadbury
9th Nov 2009 13:18
Insurance giant Prudential was one of the major risers on Monday morning after a price target upgrade from Dutch broking group ING. ING has upped its target price for the Pru from 392p to 584p, but maintains its 'hold' rating for the shares. The broker is not sold on all insurers, however. 'The re
Read moreHSBC axing 1,700 jobs
3rd Nov 2009 14:36
HSBC is slashing about 1,700 jobs in the UK, mostly among back office staff rather than at its branches. Reports suggest the banking giant will cut most positions at credit cards and collections, reducing the business from nine regional offices to two sites in Birmingham. The company hasn't taken
Read moreMonday newspaper round-up: Lloyds Banking, Ryanair, British Airways
2nd Nov 2009 06:11
Lloyds Banking will on Tuesday unveil twin sweeteners to persuade existing bondholders to exchange their bonds for riskier investments that could convert into equity - the most innovative, and closely guarded, element of the part-nationalised bank's £25bn recapitalisation programme, the FT writes.
Read moreLondon close: Footsie suffers reversal of fortunes
26th Oct 2009 16:21
Stocks had looked like making a decent start to the week, but a dramatic and sudden sell-off on Wall Street quickly sent London into the red. The Dow Jones turned an early three-digit gain into a 100-point loss as US analyst Dick Bove downgraded Fifth Third Bancorp, SunTrust Banks and US Bancorp.
Read moreLondon afternoon: Stocks get lift from Wall Street
26th Oct 2009 14:20
After crawling higher throughout the morning session London's leading shares received a boost from a firm start on Wall Street. The market is buoyant despite weakness in the banking sector, where the market is holding its breath for the anticipated cash call by Lloyds Banking. Elsewhere in the sect
Read moreLondon close: Oil fired Footsie
19th Oct 2009 17:10
Boosted by a bright start on Wall Street equities finished the day with a flourish in London with the FTSE 100 index close to racking up a triple digit gain. Energy stocks saw some late interest as the price of oil moved higher. At midday in New York the price of the most widely traded oil futures
Read moreLondon afternoon: Shares consolidate gains
19th Oct 2009 14:39
After racing off to a fast start leading equities have largely consolidated the gains made in the first hour of trading. Property stocks are among the best performers after a positive note on the sector from Evolution Securities, which has upped its ratings for British Land, Liberty International
Read moreUpdate: FSA to protect borrowers from themselves
19th Oct 2009 13:48
City watchdog the Financial Services Authority (FSA) has unveiled a range of proposed changes to mortgage regulation designed to 'protect consumers more from themselves.' The headline-grabbing change proposed by the FSA is the scrapping of self-certification mortgages, with the regulatory body taci
Read moreLondon midday: More gains for Footsie
19th Oct 2009 12:14
Mining and property stocks have sparked another strong morning for the FTSE 100 index. Miners Fresnillo, Kazakhmys, Vedanta, Anglo American, Xstrata and Antofagasta are leading the way. Property stocks are lifted by a positive note on the sector from Evolution Securities, which has upped its rat
Read moreFSA to outlaw self-certification mortgages
19th Oct 2009 09:17
Self-certification mortgages are for the scrap-heap, the Financial Services Authority said Monday, as it proposed a shake-up of mortgage regulations. The Financial Services Authority (FSA) said the onus of verifying affordability when a mortgage application is considered should be on the lender, wi
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