London close: Stocks surge as JPMorgan hints at ECB stimulus
24th May 2012 16:38
-JP Morgan suggests ECB rate cut, LTRO restart -EU leaders make little progress -UK contracts more than expected in Q1 An underwhelming EU summit and a barrage of disappointing economic figures failed to hold back gains on Thursday, as the Footsie rebounded following yesterday's steep sell-off. C
Read moreLondon open: Stocks rebound after heavy sell-off
24th May 2012 08:45
- EU leaders clash over Eurobonds - Chinese manufacturing continues to contract - Financials wanted after recent sell-off Equity markets shrugged off an underwhelming EU summit and some disappointing Chinese data on Thursday morning to rebound following a heavy sell-off yesterday. The outcome of l
Read moreLondon close: Stocks sink on Greek exit speculation
23rd May 2012 16:39
- Officials warn Eurozone to prepare for Greek exit - BoE policy makers 'finely balanced' on more QE - CBO warns of US recession The FTSE 100 sunk to its lowest levels of the day by the end of trade on Wednesday as investors looked ahead to this evening's EU summit with caution as speculation incre
Read moreWednesday broker round-up
23rd May 2012 09:29
Barclays: Investec maintains buy recommendation and 240p target. BTG: Jefferies keeps buy rating and 410p target. Burberry: Nomura remains a buyer with a 1,530p target; Merchant Securities keeps hold rating; Investec reiterates buy rating and 1,690p target. Cobham: UBS ups target from 255p to 260
Read moreTuesday newspaper round-up: HSBC, BoE, Thomas Cook
22nd May 2012 07:37
Stuart Gulliver, HSBC's chief executive, has said the bank had decided to drop "indefinitely" plans to look at moving its headquarters from London to Hong Kong. HSBC, which paid 1.5bn dollars (950m pounds) tax in the UK last year, threatened to leave the UK in the face of punitive financial regulati
Read moreLondon close: Stocks rebound, EU summit eyed
21st May 2012 17:14
- G8 underwhelms; markets look to EU summit - Hollande expected to push eurobond idea to Merkel - Risk-on as financials, miners advance; defensives sold London's FTSE 100 finished firmly higher on Monday following a poor performance last week which saw the blue chip index slump to its worst levels
Read moreFTSE 100 movers: Miners, financials recover after recent falls
21st May 2012 16:40
Miners and financial stocks were among the best performers of the day on Monday as the Footsie rebounded after slumping to a six-month low on Friday. Vedanta Resources, Polymetal, Xstrata and Glencore were making decent gains in afternoon trade on rumours that China could act to counter a slowdown
Read moreLondon midday: Stocks rise but Eurozone still in focus
21st May 2012 11:31
- G8 underwhelms as euro crisis continues to hamper sentiment - Cameron warns Eurozone to anticipate Greek exit - Barclays to offload BlackRock stake The FTSE 100 had held on to early gains by Monday lunchtime, as the blue-chips index rebounds from hitting a six-month low on Friday. US stock future
Read moreLondon open: Footsie rebounds from six-month low
21st May 2012 08:40
- G8 summit fails to lift sentiment as euro worries persist - Chinese stimulus speculation does the rounds - Man Group surges early on Despite an underwhelming G8 summit at the weekend, London's blue chip index opening slightly higher on Monday morning after slumping to its lowest levels since mid-
Read moreMonday newspaper round-up: Break-up, France, Bailouts
21st May 2012 07:16
When it comes to contingency planning for a Eurozone break-up, it is typically a German company that has been ahead of the game. Industrial conglomerate Siemens acquired a banking licence in December 2010. That allowed it to access directly European Central Bank funds, so cutting its exposure to swi
Read moreHSBC completes sale of New York branch network
21st May 2012 07:15
Global banking group HSBC has completed the sale of 195 US retail branches to First Niagara Bank, first announced in July last year. HSBC's wholly-owned subsidiary, HSBC Bank USA, received $0.9bn for the branches (based on figures at April 30th 2012), primarily in upstate New York. The sales is pa
Read moreFriday newspaper round-up: Northern Rock, HSBC, Euro
18th May 2012 07:24
British taxpayers could suffer a 2bn pound loss on Northern Rock but it should be seen as the cost of securing financial stability, according to the National Audit Office. The Government's spending watchdog said the Coalition was correct to seek an early sale of the nationalised lender, which result
Read moreHSBC sweet-talks investors
17th May 2012 10:49
HSBC, 'the world's local bank', is turning into ... er ... just a big bank as it executes its strategy of focusing on regions that offer the sexiest growth prospects. HSBC has issued an update of its huge restructuring. So far Britain's biggest bank has sold or exited 28 businesses since the beginn
Read moreThursday broker round-up
17th May 2012 09:36
African Barrick Gold: Goldman Sachs upgrades from sell to neutral. Amlin: Nomura maintains neutral rating and 383p target. Aviva: Shore Capital downgrades from buy to hold; Nomura keeps buy rating and 600p target. Babcock: Liberum Capital downgrades from buy to hold. Brammer: Westhouse Securitie
Read moreLondon close: Footsie sets new 2012-low on Greek concerns
14th May 2012 16:27
- Footsie closes at levels not seen since mid-December - Potential Greek exit from euro hammers stocks - Banks, miners the worst performers in London The FTSE 100 closed at its lowest levels in the year-to-date on Monday as investors speculated about what a disorderly exit of Greece from the Eurozo
Read more