Financial Policy Committee tells banks to raise capital ASAP
23rd Mar 2012 12:46
The Bank of England (BoE) has warned banks that they must raise external capital as early as is feasible. The Financial Policy Committee (FPC), which acts as a watchdog for the BoE, published a report expressing its concerns that "capital is not yet at levels that would ensure resilience in the fac
Read moreLondon midday: Miners drag Footsie lower
23rd Mar 2012 11:55
- Footsie on track for worst weekly performance YTD - Miners fall, Randgold still hampered by Malian concerns - BT rises on pension deficit arrangement After a strong start, a sell-off in the mining sector dragged the Footsie into the red by lunchtime. Rising commodity prices did little to lift the
Read moreLondon open: BT leads the risers early on
23rd Mar 2012 08:38
The Footsie rose in the opening hour of Friday's session, helped by a strong performance by financial stocks. Company news was thin on the ground early on but BT was the best performer after announcing plans to eliminate its pension deficit within 10 years. The blue chip index remains nearly 100 po
Read moreLloyds's mass branch sale to Co-op proves 'complex'
22nd Mar 2012 15:35
Lloyds has said that it will update the market on the progress being made on its sale of hundreds of branches to The Co-operative Group (Co-op) in the second quarter due to the 'complex' nature of the deal. The European Commisson-mandated divestment of 632 retail and commercial branches, known as P
Read moreLondon open: Miners pull the Footsie lower
20th Mar 2012 08:36
- Miners fall as BHP warns of slowing steel production in China - OBR to raise UK GDP forecasts for 2012 - ARM, National Grid, United Utilities rise after upgrades The FTSE 100 slumped in the opening hour on Tuesday as the miners dragged the blue chip index into the red for a second day. According
Read moreLondon close: Losses trimmed by news from Greece
19th Mar 2012 17:03
- Greek CDS auction finishes in line with expectations - Greece expects GDP to fall 4.5 per cent in 2012 and 0.5 per cent in 2013 - Markets await Wednesday's Budget The FTSE 100 finished only slightly in the red after a positive start on Wall Street, which saw UK stocks trim losses in afternoon tra
Read moreMonday broker round-up - UPDATE
19th Mar 2012 09:37
Antofagasta: Exane BNP Paribas upgrades from neutral to outperform, target lifted from 1,200p to 1,450p; Nomura cuts target to 1,500p from 1,650p, buy rating unchanged. AstraZeneca: Goldman Sachs cuts target from 3,350p to 3,306p, neutral rating kept. Barclays: UBS raises target from 240p to 272p,
Read moreLondon close: Footsie finishes strongly as banks, miners provide a lift
16th Mar 2012 16:47
- Footsie finishes the week up 1.4 per cent - Eurozone debt crisis eases, US data mixed - Essar closes up 10 per cent The Footsie finished the week strongly, closing not too far off the elusive 6,000 mark, with financials and miners making ground as tensions arising from the Eurozone's debt crisis
Read moreFTSE 100 movers: Lower gold price hits miners
16th Mar 2012 15:39
Polymetal and Randgold Resources both dropped lower, as gold prices took a hit. Polymetal continues to make headlines concerning the rumoured merger with Russian peer Polyus Gold, which is aiming to raise its free float to 25% (from 14%) in order to gain a long-awaited premium listing on the FTSE
Read moreLondon midday: Footsie extends gains, RBS leads the rise
16th Mar 2012 11:32
- RBS up over five per cent after upgrade - Tullow Oil strikes again off the coast of Ghana - Footsie up 1.4 per cent on the week The FTSE 100 was continuing to set new intraday highs by lunchtime, helped by a strong performance by financial and resource stocks. It has been a relatively quiet day f
Read moreLondon open: Financials gains, US data eyed
16th Mar 2012 08:52
- Financials stock, Tullow oil lead the rise on the Footsie - Barroso sees improvement in the Eurozone - Oil prices rebound London's blue chip index advanced in the opening hour on Friday on a relatively quiet day for company news. Investors will be looking ahead to industrial production and consum
Read moreLloyds makes bonus raid on former execs
16th Mar 2012 08:41
It seems as if some former directors of Lloyds will be putting the champagne firmly back on ice. According to press reports, several ex-board members at the state-backed bank will not be paid share awards resulting from an incentive plan introduced in the wake of the merger with HBOS back in 2009.
Read moreFTSE 100 movers: Legal and General divi rise sends shares soaring
14th Mar 2012 14:07
The legion of income investors holding shares of Legal and General were cheered by the insurance leviathan's decision to bump up the 2011 dividend by more than a third, well ahead of market expectations. The final dividend in respect of fiscal 2011 has been increased by a whopping 39% to 4.74p per
Read moreLondon open: Legal and General leads the Footsie higher
14th Mar 2012 08:28
- Legal and General jumps five per cent after solid 2011 - Majority of US banks pass stress tests - Osborne considering 100-year gilts London's blue chips rose strongly on Wednesday morning, led by financial stocks, following on from a surge on Wall Street last night. The Footsie opened up at level
Read moreLondon close: Stocks surge on improving global outlook
13th Mar 2012 16:48
- FTSE 100 at highest levels since last summer - Markets await FOMC, words from Bernanke - Draghi sees signs of 'stabilisation' The Footsie finished at an eight-month high on Tuesday, up a whole percentage point on the day, as financial stocks made gains on the back of an improving global economic
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