London 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
Read moreLondon midday: Banks fall as GDP figures disappoint
25th Jan 2012 11:55
- UK GDP contracts in the fourth quarter. - BoE unanimous in decision to maintain rates. - Mortgage approvals rise. In spite of a strong start, London's FTSE 100 experienced a sharp decline in morning trade following some disappointing gross domestic product figures which came in worse than expecte
Read moreLondon close: Stocks down on Greek concerns
24th Jan 2012 16:41
- Banks sold off as Greek talks continue. - S&P downgrades three French banks. - IMF cuts world GDP growth forecast. UK stocks were off their intraday lows but still finished firmly in the red on Tuesday, with global markets in negative territory as European leaders continue to argue over Greece
Read moreHSBC sells Central American businesses
24th Jan 2012 13:45
International banking giant HSBC is to exit Costa Rica, El Salvador and Honduras. The company has conditionally sold its operations in those countries to Banco Davivienda, a banking group listed in Colombia. Davivienda, Colombia's third largest bank, will pay $801m in cash for the bankng operations
Read moreSpeculation on bids for HSBC non-life insurance business
20th Jan 2012 13:43
HSBC is set to sell its non-life insurance operations, according to three persons close to the matter. Bloomberg.com has reported that the informers said Europe's second-largest insurer Axa and Zurich-based insurer Ace are two of the final bidders in the running to acquire the complete non-life un
Read moreFriday newspaper round-up: Google, Vodafone, HSBC
20th Jan 2012 06:51
Shares in Google dropped more than 10% in after-hours trading on Thursday, after the web search giant reported record sales but fell short of analysts' expectations. The company grew its full year revenues by 29% and saw quarterly revenues climb 27% year-on-year to $10.58bn (£6.83bn), including $1.0
Read moreLondon close: Footsie up 0.7% as banks and IAG surge
19th Jan 2012 17:05
-Euro optimism drives gains. -Barclays, Lloyds, RBS leads the risers. -Essar falls 11.9%, still volatile after Indian tax ruling. A combination of better-than-expected earnings figures and economic data from the US, talks of progress between the Greek government and private creditors, and strong de
Read moreFTSE 100 movers: Banks move higher
19th Jan 2012 14:42
Bankings stocks were providing a lift at midday with Barclays, RBS, Lloyds and HSBC all among the best performers, aided by euro optimism which has given a boost to sentiment. Tesco was also on the rise after US investor Warren Buffett stocked up on shares in the supermarket giant. Meanwhile, Es
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