HSBC sells portfolio to Paragon Group of Companies
8th Oct 2013 09:56
HSBC subsidiary, HSBC Bank, on Tuesday sold a portfolio of non-performing personal unsecured and secured loans to the Paragon Group of Companies. The sale was made for a total consideration of £13.5m. The portfolio is made up of loans from HFC Bank, an indirectly wholly-owned subsidiary of HSBC
Read moreLondon open: M&S, Burberry lead FTSE 100 lower as US shutdown persists
7th Oct 2013 08:29
An ongoing government shutdown Stateside continued to weigh on market sentiment on Monday with London's FTSE 100 registering losses in morning trade. US lawmakers failed to reach an agreement on either the budget or the debt-ceiling over the weekend, heightening fears that the US could run out of t
Read moreLondon close: Markets in 'wait-and-see' mode as shutdown continues
4th Oct 2013 16:46
After fluctuating between gains and losses for most of the day, the FTSE 100 finished broadly flat on Friday as stocks struggled for direction. In the absence of economic news and ongoing political uncertainty in the States, markets remain in "wait-and-see mode", according Senior Market Analyst Mic
Read moreFTSE 100 movers: Standard Life leads financials higher
4th Oct 2013 15:24
Financials were performing relatively well today with insurers Standard Life, Prudential, Resolution and RSA moving higher, along with banking groups HSBC and RBS. Standard Life was boosted by JP Morgan, which reiterated its 'overweight' rating on the stock, and commented that growth continued to
Read moreLondon midday: UK markets lack direction as US budget impasse persists
4th Oct 2013 11:31
After a slow start, the FTSE 100 had erased losses by midday on Friday but markets remain subdued as stocks struggle for direction in the absence of economic news and ongoing political uncertainty in the States. Since the partial shutdown of the US government has extended into its fourth day, gove
Read moreLondon open: Stocks fall as US shutdown continues
4th Oct 2013 08:36
Markets look to end the week on a quiet note with stocks lacking direction in the absence of the all-important US jobs report; the FTSE 100 fell slightly in the red on Friday morning. Since the partial shutdown of the US government has extended into its fourth day, governmental agencies and departm
Read moreLondon close: Late rally not enough as FTSE 100 falls for fourth straight day
2nd Oct 2013 16:43
A slight bounce in the UK-listed mining sector saw the FTSE 100 rally on Wednesday afternoon but the index still finished firmly in the red, setting a fresh one-month low as political uncertainty in the US and Italy continued to weigh on sentiment. The FTSE 100 finished down 22.51 points at 6,437.5
Read moreWednesday newspaper round-up: Iran, Eurozone, bond market
25th Sep 2013 07:00
President Barack Obama and his Iranian counterpart, Hassan Rouhani, backed a new drive for diplomacy over Iran's nuclear programme on Tuesday. The US president told the UN that there was "the basis for a meaningful agreement".Mr Obama said he was directing John Kerry, US Secretary of State, to "purs
Read moreLondon close: Stocks sink into the red ahead of FOMC outcome
18th Sep 2013 16:23
After a range-bound morning session, markets sunk into the red on Wednesday afternoon as investors reduced their appetite for risk ahead of the Federal Reserve policy decision later this evening. The FTSE 100 closed 11.35 points lower at 6,558.82, the index's second day in negative territory after
Read moreSector movers: Banks rebound after sharp falls
18th Sep 2013 14:26
Stocks in the banking sector were among the highest risers on Wednesday as share prices rebounded following some heavy falls the day before. UK domestic bank Lloyds was towards the top of the pack on the FTSE 100 after bearing the brunt of the selling action on Tuesday. Shares in the part-nationa
Read moreLondon midday: Markets rangebound ahead of Fed decision
18th Sep 2013 11:32
Markets were rangebound on Wednesday morning as investors showed nervousness ahead of the all-important Federal Reserve policy decision later this evening. UK stocks were registering moderating gains by midday but just 19 points separated the FTSE 100's intraday low (6,568) and high (6,587) as trad
Read moreSector movers: Banks fall as government starts Lloyds sell-down
17th Sep 2013 14:36
Banking stocks were among the worst performers in London on Tuesday with Lloyds sinking after the government began to sell-off its stake in the lender five years after its state bailout back in 2008. The UK Financial Investments, the company that manages the government's investments in Lloyds and f
Read moreLondon close: FTSE 100 at three-week high after policy meetings
5th Sep 2013 17:03
A host of central-bank policy meetings, a dovish tone from Mario Draghi and the continued improvement in US economic data helped lift stocks higher on Thursday, with the FTSE 100 closing at levels not seen in three weeks. London's benchmark index ended the day up 57.7 points at 6,532.44, its highes
Read moreFTSE 100 movers: M&S leaps after HSBC upgrade
5th Sep 2013 15:20
High Street department store Marks & Spencer surged today after HSBC upgraded the stock from 'neutral' to 'overweight', saying it is the most operationally geared among its peers to play on the UK consumer recovery. Hotels group IHG was also a high riser after UBS raised its rating from 'neutral to
Read moreSector movers: Banking stocks lead risers in London
5th Sep 2013 14:05
Banking stocks were the highest risers on Thursday as markets reacted positively to a number of central-bank policy decisions across the globe. The Bank of England, European Central Bank (ECB) and Bank of Japan all decided to keep monetary policy on hold over the last 24 hours. A close eye was kept
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