London afternoon: Gains pegged after US housing data
18th Aug 2009 14:37
Disappointing US housing starts data took the wind out of London's sales over the lunchtime session, though the blue-chip FTSE 100 index remains in the blue. Housing starts are seen as one of the vital signs of the US economy and July's figures disappointed, with the annualised number of housing sta
Read moreBroker tips: HSBC, British Land, Glaxo
18th Aug 2009 12:55
Global banking giant HSBC is in pole position among banks to benefit from the global economic recovery when it picks up steam, Goldman Sachs believes. Goldman Sachs (GS) said that with the chapter now closed on HSBC's ill-fated acquisition of US sub-prime lender Household, its HSBC Finance division
Read moreFTSE 100 movers: Miners lift blue chips
18th Aug 2009 12:51
Once again mining stocks are in the driving seat but today they are driving the Footsie north, with many stocks recovering some of yesterday's heavy losses. Xstrata, ENRC, Kazakhmys and Antofagasta are the picks of the mining sector, along with cash strapped Rio Tinto, which has received a $2.025b
Read moreBroker snap: HSBC in pole position
18th Aug 2009 12:34
Global banking giant HSBC is in pole position among banks to benefit from the global economic recovery when it picks up steam, Goldman Sachs believes. Goldman Sachs said that with the chapter now closed on its ill-fated acquisition of US sub-prime lender Household, its HSBC Finance division should
Read moreLondon close: Footsie ends week on a high
7th Aug 2009 16:16
Some better-than-expected jobs data hauled Footsie into the blue Friday afternoon, ensuring the leading share index continued its rally. The Labor Department said 247,000 jobs disappeared in July, far less than the 320,000 predicted by analysts and almost half the 467,000 reported in June. RBS rem
Read moreLondon afternoon: Footsie higher as US data lifts sentiment
7th Aug 2009 14:15
Wall Street has come to the rescue with better-than-expected unemployment report lifting sentiment in London as well. US futures are now expected to start up after the Labor Department revealed data that showed job losses slowing in July to 247,000 against expectations of a fall to 320,000 and agai
Read moreLondon midday: RBS ends banks good run
7th Aug 2009 12:26
Footsie is having a tough morning with banks running into profit taking after Royal Bank of Scotland issued what it describes as a 'poor' set of numbers. RBS made a £15m profit, but bad debts rocketed to £7.5bn and it warned results may not "substantially" improve until 2011. Losses attributable t
Read moreLondon open: Banks on back foot
7th Aug 2009 08:40
London got off to a weak start following last night's losses in the US and as investors tread carefully ahead of this afternoon's US non-farm payrolls. Banks are struggling after RBS published its half-year numbers. It made a £15m profit, but bad debts rocketed to £7.5bn and it warned results may
Read moreSector 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
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