Sector movers: Banks dominate
6th Aug 2009 13:29
This week's well-received results from Lloyds, Barclays and HSBC continue to keep buyers active. All three are sharply higher Thursday, sending Banks to the top of the tree. Royal Bank of Scotland is also better ahead of tomorrow's interim results. Unilever has given Food Producers & Processors a
Read moreLondon close: Footsie ends at 10-month high
3rd Aug 2009 16:16
Blue chips closed at their highest since early October as investors piled into heavyweight miners and the big banks, although the index failed to hold above 4,700. Oil services specialist Petrofac was in pole position after UBS upgraded the shares to 'buy' and its target price to £10. Crude prices
Read moreLondon afternoon: Banks dominate as Footsie rises
3rd Aug 2009 14:50
Footsie is still well in the blue with HSBC and Barclays leading the way and a decent start on Wall Street helping the mood. HSBC posted a profit before tax of $5bn during the period, down from $10.2bn a year ago, but just ahead of forecasts. It said it is 'pleased' with the results. Barclays deli
Read moreSector movers: Bank results impress market
3rd Aug 2009 13:19
Well-received results from Barclays and HSBC help lift the banking sector higher. Barclays shares shot up after it posted half-year profits of £3bn, despite an 86% rise in impairment charges, as profits at its investment banking division doubled. Pre-tax profit more than halved at HSBC in the firs
Read moreHSBC rallies despite profit plunge
3rd Aug 2009 12:24
Pre-tax profit more than halved at HSBC in the first six months of 2009 and the bank has warned that the economic outlook remains uncertain. The banking giant posted a profit before tax of $5bn (£3bn) during the period to 30 June, down from $10.2bn (£6bn) a year ago, but that was just ahead of fore
Read moreLondon midday: Bank results send Footsie soaring
3rd Aug 2009 11:59
Footsie is posting big gains on the back HSBC and Barclays results, with an upward move from the miners on higher metal prices also helping the mood. HSBC posted a profit before tax of $5bn during the period, down from $10.2bn a year ago, but just ahead of forecasts. It said it is 'pleased' with th
Read moreTechnical Analysis Snap: HSBC results push shares through resistance
3rd Aug 2009 10:19
HSBC reported first half profits on Monday morning, after including movements in fair value on debt related to CDS spreads, of $5bn, down 51% on the same period last year. Along with an improved Tier 1 ratio of 10.1%, this news has seen the share price leap through the 61.8% retracement level of 6
Read moreHSBC profits dive, shares rally
3rd Aug 2009 09:23
Pre-tax profit more than halved at HSBC in the first six months of 2009 and the bank has warned that the economic outlook remains uncertain. The banking giant posted a profit before tax of $5bn during the period, down from $10.2bn a year ago, but just ahead of forecasts. Underlying profit, exclud
Read moreShareholders of UK banks looking for a result
31st Jul 2009 18:06
The banking sector has been one of the top five performers since the market rally started on 9 March, and next week's results from the major players are expected to add weight to the view that the worst may be behind them. Barclays and HSBC get the ball rolling on Monday. Both companies have avoide
Read moreDarling to quiz banks on business lending
27th Jul 2009 08:25
Britain's high street bank chiefs have been summoned to the chancellor's office today to explain their failure to re-start lending to small businesses despite receiving £37bn of taxpayer's money. Heads of Lloyds and Royal Bank of Scotland - the two state-controlled high street banks- will be joined
Read moreTechnical Analysis: Banking sector testing resistance
24th Jul 2009 11:19
June 2007 seems a long time ago now, and it certainly has been a long time for the banking sector, because this was the last time that the value of the sector was above its 200 day moving average. It's certainly been a long hard slog but there does seem to be some light at the end of the tunnel, h
Read moreHSBC fined £3m for losing data
22nd Jul 2009 13:11
HSBC has been fined more than £3m by the City watchdog after customers' confidential details went missing in the post twice. Three of the banking giant's businesses were in trouble. HSBC Life UK was fined £1.6m, HSBC Actuaries and Consultants Limited will have to pay £875,000 and HSBC Insurance Bro
Read moreLondon midday: Shares pause for breath
22nd Jul 2009 12:07
Leading shares are mixed, with losses on miners and banks offset by gains on defensive favourites such as tobaccos and utilities. Mining giant BHP Billiton set the tone for the sector with its annual production report this morning. Quarterly (Apr-Jun) production increased for 12 major commodities
Read moreSector movers: Insurers impress
20th Jul 2009 15:09
Another strong day for equities got investors excited about Life Insurance. Global stock markets are rising for a sixth day, boosting the value of investments. Prudential and Legal & General are the best performers, but Friends Provident is also going well as the Resolution takeover situation rumbl
Read moreLondon close: Stocks tread water
3rd Jul 2009 17:12
A late swoon saw Footsie relinquish virtually all of its gains, with losses on resource stocks counter-balancing gains made by banks. Barclays, Royal Bank of Scotland, HSBC and Lloyds Banking were the pick of the banking sector, despite chancellor Alistair Darling firing a warning about the re-eme
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