FTSE 100 movers: Reed Elsevier leads risers, while banks and miners fall
16th Feb 2012 14:51
Information solutions provider Reed Elsevier jumped into pole position after seeing underlying revenues increase 2% in 2011, with all five business areas contributing to growth except the Exhibitions division, which was held back by biennial cycling. Nomura said today that the group's valuation - wi
Read moreOFT tells banks to play fair
16th Feb 2012 14:23
Do better by personal account customers or you'll be forced - that was the message behind a speech given by head of the Office of Fair Trading (OFT). John Fingleton said competition in the banking system has not functioned well for too long, despite a string of investigations into personal banking,
Read moreLondon midday: Stocks off lows but still firmly in the red
16th Feb 2012 11:40
- Greek bailout hit by more delays. - Moody's reviews ratings on 114 European financial institutions. - Real Eurozone GDP forecasts slashed in ECB survey. The FTSE 100 has come off its intraday low of 5,831 but still remains firmly in the red as delays in Greece, a warning to banks from Moody's an
Read moreLondon open: Stocks weighed down by Greece, Moody's
16th Feb 2012 08:35
- Greek bailout hit by more delays. - Moody's reviews ratings on 114 European financial institutions. - BAE Systems tumbles after results. London's blue chip index sank in early trading on Thursday, with just five stocks on the rise, as the Greek bailout faces fresh delays. Meanwhile, Moody's warn
Read moreMoody's reviews 114 financial institutions, nine in UK
16th Feb 2012 07:42
Moody's Investors Service has announced rating actions affecting no less than 114 financial institutions in 16 European countries as the sovereign debt crisis continues to take its toll. The credit ratings agency aptly points out that the "adverse and prolonged" impact of the euro area crisis make
Read moreLondon close: Stocks finish down with Greece in focus
15th Feb 2012 16:38
- Oil rises on supply concerns. - PBOC to keep buying Eurozone debt. - Samaras to honour terms of new package. Despite an earlier rise, the FTSE 100 index slumped in afternoon trade to finish in the red as strong performance by banks was offset by some heavyweight stocks that went ex-dividend. All
Read moreFTSE 100 movers: Ex-dividend stocks provide a drag
15th Feb 2012 14:46
Drugs giant AstraZeneca plunged into bottom spot, followed by sector peer GlaxoSmithKline and big oil players BP and Shell, after all four went ex-dividend today. Shares of ITV took a hit following a downgrade from Peel Hunt. The broker said that with the shares of the broadcaster having gained ste
Read moreLondon midday: Banks provide a boost
15th Feb 2012 11:45
- Banks lead the risers on the Footsie. - PBOC to keep buying Eurozone debt. - Venizelos foresees bailout resolution. UK stocks were slightly higher by midday after China pledged to continue buying Eurozone bonds, easing concerns of the region's debt crisis. Banks were the best performers of the d
Read moreLondon open: Stocks rise as China pledges to keep helping Eurozone
15th Feb 2012 08:19
- PBOC to keep buying Eurozone debt. - Eurogroup meeting cancelled. - Essar leads the risers early on. UK stocks rose in early trading on Wednesday, rebounding after yesterday's decline, with European indices following Asian markets higher after China pledged to continue buying Eurozone debt. Spea
Read moreBank lending to SMEs falls short of targets in 2011
13th Feb 2012 15:17
Lending to businesses by the five major UK banks exceeded targets in 2011, but loans to small- and medium-sized businesses (SMEs) came up short, according to the latest data from the Bank of England (BoE). Gross lending from Barclays, HSBC, Lloyds, Royal Bank of Scotland and Santander totalled £214
Read moreLondon close: Stocks slip as Greek talks commence
8th Feb 2012 16:37
- Greek talks now underway in Athens. - Investors await policy decision by BoE tomorrow. - Reckitt leads risers after full-year results. The earlier optimistic mood in global equity markets soon faded as talks between Greek leaders commenced on Wednesday afternoon. The Footsie slipped towards the e
Read more2012 to be a tough year for UK, but Citi still overweight on banks
8th Feb 2012 16:29
In spite of what Citi believes will be another tough year for the UK economy, the US investment bank has reiterated its overweight position on UK banks. 2012 will be another difficult year, the broker says, with "continued emphasis on balance sheet repair after the surge in private and public debt
Read moreLondon close: Banks fall after GDP data, markets await Fed
25th Jan 2012 16:14
- UK GDP figures disappoint. - Markets await FOMC statement and Bernanke. UK stocks finished firmly in the red after worse-than-expected UK gross domestic product (GDP) figures sent banks reeling early on. Meanwhile, markets in the US were mixed ahead of the Federal Open Market Committee (FOMC) sta
Read moreHSBC offloads Thai unit for $115m
25th Jan 2012 15:28
HSBC has offloaded its Thai Retail Banking and Wealth Management business to Bank of Ayudhya Public Company Ltd (BAY), as it continued to dispose of its non-core businesses overseas. While HSBC didn't include a sale price for the division - saying that the gross assets being sold are worth 17.5bn b
Read moreFTSE 100 movers: Ashmore rises on Barclays upgrade
25th Jan 2012 13:34
Investment manager Ashmore was the best performer, rising over 5%, bouncing back after a poor performance yesterday on the back of a downgrade from Royal Bank of Scotland. Today, however, the stock was given a boost after Barclays upgraded it to overweight from neutral. ARM Holdings, the chip desi
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