Banks to pay compensation after mis-selling scandal
29th Jun 2012 14:35
The Financial Services Authority (FSA) revealed on Friday that it had found 'serious failings' in the way lenders sold complicated interest rate protection products to small- and medium-sized businesses (SMEs). "In order to provide as swift a solution to this problem as possible we have today confi
Read moreFTSE 100 movers: Barclays wobbles after 'serious failings'
29th Jun 2012 13:45
Following Barclays's 16 per cent drop yesterday after it was found to have manipulated interbank lending rates, shares were swinging between gains and losses today after the Financial Services Authority (FSA) revealed it has found "serious failings" in the way lenders sold complicated interest rate
Read moreLondon midday: Summit developments catch markets by surprise
29th Jun 2012 12:01
- EU leaders announce measures to combat crisis - Spanish, Italian bond yields tumble - Banks involved in another scandal Markets across Europe celebrated this morning what most experts consider to have be surprising 'breakthrough' agreements from the first day of the European Council summit. The
Read moreLondon open: Stocks jump on summit developments
29th Jun 2012 08:45
- EU leaders make break-through agreements - FSA reveals another banking scandal - Banks rise after yesterday's sell-off The FTSE 100 surged in early trading on Friday on the back of developments at the EU summit after European leaders issued a joint statement after the first day of discussions. L
Read moreFSA declares British Banks in yet another scandal
29th Jun 2012 07:19
British banks look to be at the centre of another yet another scandal as the Financial Services Authority (FSA) revealed it has found 'serious failings' in the way lenders sold complicated interest rate protection products to businesses. Some businesses claims they have been bankrupted by the liabi
Read moreLondon close: Barclays limits late rally for Footsie
28th Jun 2012 16:51
- Losses pared but banks still weigh on market - Barclays and banks sold off on Libor issues - Ladbrokes drops after profit warning London's blue-chip index finished at 5,493 on Thursday, well above its intraday low of 5,438 but still firmly in the red, as banking stocks provided a drag on the back
Read moreFTSE 100 movers: Banks dragging index lower
28th Jun 2012 15:07
Shares in Barclays were under heavy selling pressure after the banking group was found guilty of 'market manipulation' into interbank lending rates, prompting calls for the resignation of Chief Executive Officer Bob Diamond. Several other banks, including HSBC, Royal Bank of Scotland (RBS) and Llo
Read moreLondon midday: Banking stocks tank on Libor controversy
28th Jun 2012 11:42
- EU summit to begin soon - UK GDP in line with initial estimates - Libor scandal hits Barclays, banking stocks With the heavyweight banking sector extending its earlier losses, the Footsie was trading close to its lowest levels of the day by Thursday lunchtime ahead of the two-day EU summit which
Read moreThursday broker round-up
28th Jun 2012 10:24
3i Group: Citigroup upgrades to buy, target lifted from 215p to 220p. Abcam: Investec upgrades to buy, target lifted from 349p to 466p; Peel Hunt raises target from 440p to 480p, buy rating unchanged. bwin.party: UBS cuts target from 165p to 125p, neutral rating unchanged. Cookson: UBS cuts targe
Read moreNBNK to wind-up as Lloyds agrees Verde terms with Co-op
28th Jun 2012 09:10
After a long wait, UK banking group Lloyds announced that it has agreed on the terms of the branch-network sale, otherwise known as Project Verde, to the Co-operative Group (Co-op). The Verde business has 632 branches across the UK with around five million customers, representing 6% of the UK branc
Read moreLondon open: Stocks slip ahead of EU summit, Barclays under fire
28th Jun 2012 08:44
The Footsie opened lower on Thursday morning as investors remained cautious ahead of what is likely to be a closely watched EU summit in Brussels that kicks off today. European leaders are expected to discuss specific steps towards a cross-border banking union, closer fiscal integration and the po
Read moreThursday newspaper round-up: Eurozone, Barclays, Lloyds...
28th Jun 2012 07:05
Pleas from Spain and Italy for urgent financial aid from the Eurozone to bring down borrowing costs were dismissed by Angela Merkel as divisions hardened on the eve of a critical summit. Germany's Chancellor angrily rejected desperate pleading by Italy and Spain as a Franco-German rift over Eurozone
Read moreLondon close: Stocks surge after US data
27th Jun 2012 16:40
- US data fuels buying late on - EU summit in focus tomorrow - Xstrata appeases shareholders, Barclays rises despite 'market manipulation' London's blue chip index surged in afternoon trade on Wednesday after some upbeat housing data from the US lifted sentiment ahead of the crucial two-day EU summ
Read moreFTSE 100 movers: Evraz hits lowest price since joining index
27th Jun 2012 15:04
Evraz fell to its lowest price since it began trading on the index in November, with investors likely to be concerned by an announcement from a major steelmaker in Germany, Salzgitter AG, in which it said it in no longer able to forecast that it's steel division will break even in 2012. Banks were
Read moreLondon midday: Investors braced for EU summit
27th Jun 2012 11:39
- Markets still nervous ahead of summit - Chinese stimulus fuels stocks - Shire and banks lead Footsie higher UK stocks rose on Wednesday as investors hoped that the upcoming EU summit in Brussels will answer some of the uncertainties that continue to cloud the global economic outlook. The summit
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