HSBC to investigate reports that Hong Kong customers benefited from Swiss franc error
16th Jan 2015 10:14
HSBC said it was investigating reports that customers in Hong Kong managed to buy the Swiss franc below market rates, due to a technical glitch. Customers were apparently allowed to take advantage of the mistake, when an on-line bank failed to keep up with the Swiss franc's sharp gains in the wake o
Read moreLondon close: Stocks end choppy session firmly lower as data disappoints
6th Jan 2015 17:19
It was a volatile day for the UK equity market with stocks swinging between losses and gains for most of the session, with a late sell-off sending the FTSE 100 firmly in the red by the close. Service-sector activity data from across the globe largely came in below expectations with weak figures from
Read moreSunday newspaper round-up: Tesco, Oil explorers, Sainsbury´s
28th Dec 2014 17:17
Tesco is testing a discount format in its One Stop chain, indicating the group could be considering new ways to combat Aldi and Lidl, the Sunday Times said. Three One Stop branches have been trading as discounters with low prices and limited ranges for the past seven weeks. The trial is the idea of
Read moreFCA wants banks to fund FX fines out of their bonuses
21st Dec 2014 10:49
The banks involved in the foreign exchange rigging scandal should fund their fines out of this year's bonuses, the Financial Conduct Authority (FCA) has said. Citigroup, Royal Bank of Scotland (RBS), HSBC, JP Morgan and UBS were fined a combined £1.1bn by the FCA in November for allowing traders to
Read moreLondon open: FTSE rises for fourth day as late Santa Rally kicks in
19th Dec 2014 08:27
UK stocks rose for a fourth straight day on Friday following massive gains on Wall Street the night before, with the Dow Jones index registering its biggest one-day gain in three years. London's FTSE 100 was up 0.6% at 6,506 in early deals and has now risen by over 5% since Tuesday. Mike van Dulken
Read moreLondon midday: UK stocks back in the red ahead of Fed meeting
17th Dec 2014 12:18
UK stocks were back in the red on Wednesday after their first gain in seven days the previous session, with investors scaling back risk appetite ahead of a number of risk events. Along with a host of economic data due out during the session, markets were keeping an eye out for minutes for the latest
Read moreLondon close: Shares soar on upbeat Eurozone and bank news
16th Dec 2014 16:26
London shares bounced back on Tuesday in the wake of some long-awaited upbeat economic data in the Eurozone and positive news for UK banks. The FTSE 100 Index climbed 149.11 points to 6331.83 as Markit's purchasing managers' index (PMI) for euro-area manufacturing rose to 50.8 in December from 50.1
Read moreLondon pre-open: UK stocks to inch higher after heavy sell-off
16th Dec 2014 07:37
News that the Bank of England (BoE) has given a clean bill of health to seven out of eight of the UK's largest banks and building societies may offer some respite for financial markets on Tuesday, though sentiment is likely to still be fragile after an eye-watering sell-off the previous session. Cit
Read moreSeven out of eight UK banks pass BoE stress tests, Co-op Bank fails
16th Dec 2014 07:10
Seven out of eight of the UK's largest banks and building societies have passed the Bank of England's (BoE) latest round of stress tests, with the struggling Co-operative Bank being the only lender to have failed. BoE governor Mark Carney said that the results show that "the core of the banking syst
Read moreLondon midday: Stocks tumble as oil prices extend losses, data disappoints
12th Dec 2014 11:36
Weaker-than-expected data from across the globe and a continued plunge in oil prices meant that there was no let-up in the sell-off for UK equity markets on Friday. Stocks were falling for the fifth day straight, with shares in the oil and gas sector faring the worst. London's FTSE 100 was down a s
Read moreLondon open: Sell-off continues as UK resource stocks tank
12th Dec 2014 08:42
The dramatic sell-off on the FTSE 100 continued into its fifth straight day on Friday as a weak finish on Wall Street and disappointing data from China hammered already-fragile sentiment on the market. London's benchmark index was down a staggering 1.3% at 6,377 early on, dropping below the 6,400 le
Read moreSunday newspaper round-up: BP, Sainsbury, Premier Foods
7th Dec 2014 17:59
BP will shed middle managers and put projects on hold as it deals with the falling price of oil, the Sunday Times reported. Finance Director Brian Gilvary told the paper headcounts were falling across all operations and that it would cut the estimated price of oil it uses for budgeting. Gilvary said
Read moreBanks may be understating the level of fraud in the banking system, says Tyrie
7th Dec 2014 13:30
Andrew Tyrie, Chairman of the Treasury Committee, has written to some of the UK's major banks after the Committee heard evidence last month that the figures published by banks may be understating the level of fraud in the banking system. In the letter, thought to be addressed to Barclays, HSBC, Lloy
Read moreSector movers: UK banking stocks rebound after strong US jobs report
5th Dec 2014 14:37
UK banking stocks were on the rise on Friday, bouncing back after taking a hit earlier in the week following the Autumn Statement, with market sentiment helped by a much better-than-expected US jobs report. Global stock markets jumped after the US Labor Department revealed that monthly non-farm payr
Read moreThursday broker round-up
27th Nov 2014 10:15
Amlin: Numis upgrades to 'buy' with a target price of 535p. Amerisur Resources: PeelHunt lowers target price from 58p to 50p and reiterates a 'hold' recommendation. Associated British Foods: Citi raises target price from 3100p to 3700p and maintains its 'buy' recommendation. Avingtrans: FinnCap up
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