London open: Barclays divestment sinks Footsie
2nd Jun 2009 08:33
London has opened lower in the wake of the decision by Abu Dhabi's International Petroleum Investment Company to bank profits on its Barclays stake. Barclays is down by 13%. Khadem Al Qubaisi, managing director of IPIC, adding that the sale did not represent a lack of faith in Barclays, its managem
Read moreHSBC acquires 88.89% in Indonesian bank
22nd May 2009 08:52
Bank HSBC doubled its exposure in Indonesia after completing its acquisition of 88.89% of PT Bank Ekonomi Raharja Tbk (Bank Ekonomi) for $607.5m in cash. The acquisition of Bank Ekonomi, one of the largest providers of SME banking services in Indonesia, will almost double HSBC's presence in the cou
Read moreBroker tips: Banks, M&S, Morgan Crucible
15th May 2009 12:36
Barclays, already fielding bids for its iShares business, was buoyed Friday morning by rumours of a sale of the whole of its asset management arm. US group Blackrock is rumoured to be interested in buying the unit and may be prepared to pay up to $10bn. Little wonder, then, that Keefe, Bruyette
Read moreBroker snap: Barclays and HSBC get the nod from KBW
15th May 2009 09:14
Barclays, already fielding bids for its iShares business, was buoyed Friday morning by rumours of a sale of the whole of its asset management arm. US group Blackrock is rumoured to be interested in buying the unit and may be prepared to pay up to $10bn. Little wonder, then, that Keefe, Bruyette &
Read moreThursday newspaper round-up: BT, Barclays, HSBC
14th May 2009 06:07
BT could face a pension-fund deficit of more than £11bn, according to independent pensions expert John Ralfe. Mr Ralfe estimates that under "true market valuations" the hole in BT's pension could have ballooned to over £11bn - more than the market capitalisation of the former state-owned telecoms co
Read moreTechnical Analysis: Banks running out of steam
12th May 2009 10:56
Since March the banking sector has undergone a significant turn around in fortunes. This turnaround must be put into context of its decline since 2007. Since the peaks of 11,696.30 in February 2007 the sector has plummeted over 85% peak to trough so it was inevitable that there would be a bounce at
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