Lloyds announces 1,000 job cuts
7th Feb 2012 14:56
Lloyds Banking Group has announced plans to slash almost 1,000 jobs in the UK, as well as closing some of its offices, according to the bank's employee union, Accord. The banking giant, which is undergoing an extended period of cost reduction and streamlining of its businesses, said it plans to mak
Read moreLondon close: Footsie breaks 5,900 as US jobs data excites
3rd Feb 2012 16:58
The much-anticipated January employment report from the US Labor Department didn't disappoint, with a better-than-expected increase in non-farm payrolls sending the FTSE 100 vertical in afternoon trading to break through the 5,900 level. The world's largest economy created 243,000 new jobs last mon
Read moreFTSE 100 movers: Admiral leads the way higher
3rd Feb 2012 13:17
Insurance group Admiral jumped into the top spot after extending its existing UK car insurance reinsurance partnerships with Hannover Re, Mapfre Re, New Re and Swiss Re until 2014. "Reinsurance has been at the core of Admiral's successful business model since 2000 and we look forward to continuing o
Read moreLondon midday: Admiral leads the rise ahead of US data
3rd Feb 2012 12:03
Stocks were up at the day's best levels by lunchtime following a subdued start, with insurance outfit Admiral leading the charge. Miners on the other hand, are providing a drag, pulling back from their strong showing yesterday on the back of heightened M&A speculation in the sector. Markets were gi
Read moreLondon open: Stocks flat ahead of US data, Admiral jumps
3rd Feb 2012 08:31
London's blue chip stocks were broadly flat in early trading on Friday, with investors cautious ahead of some key non-farm payroll data due out in the US later today. In domestic news, the National Institute of Economic and Social Research (NIESR) predicts that the UK may fall back into recession t
Read moreThursday newspaper round-up: Retail sector, Austerity, Lloyds
2nd Feb 2012 06:48
The former chairman of the fashion retailer New Look has said the high street is in an "death spiral" and has recommended re-classing empty shops for residential use. Phil Wrigley, the chairman of the retailer Majestic Wine, also criticised the recent report on the high street by Mary Portas, the se
Read moreLondon close: Financials surge as macro data lifts sentiment
1st Feb 2012 17:00
- Schroders leads financial stocks higher as risk appetite increases. - Manufacturing data from UK, Europe, US and China well-received. - Greece 'one formal step away' from deal. The Footsie finished with a triple-digit point gain on Wednesday after manufacturing data from across the globe lifted s
Read moreFTSE 100 movers: ARM hits the bottom spot, ICAP soars
1st Feb 2012 13:46
Chip designer ARM Holdings proved to be the day's big faller, pulling back after yesterday's well-received results. The Financial Times' Lex column is today singing the virtues of ARM's "strong fundamentals", but adds that the company's valuation, at 47 times expected earnings, is "through the roof.
Read moreLondon midday: Stocks rise after Eurozone manufacturing data
1st Feb 2012 11:56
Gains were extended by lunchtime after Eurozone manufacturing data suggested that the region may escape a recession. Financials were putting in a strong performance in London, led by ICAP which was rising over 7% at the midday mark. January's purchasing managers' index (PMI) for the Eurozone manufa
Read moreChanging of the guard at Lloyds Banking
1st Feb 2012 09:53
Details of the much-heralded senior management shake-up at Lloyds Banking have been revealed, with the group adopting a structure that reduces the number of bosses reporting directly to Group Chief Executive António Horta-Osório to five. Alison Brittain has bagged the newly created role of Group Di
Read moreLondon open: ICAP leads strong rise for Footsie
1st Feb 2012 08:23
The Footsie opened in positive territory, rising well above the 5,700 level, after better-than-expected Chinese data and rumours of progress in Greece lifting the mood early on. European markets have opened strongly as investors await Eurozone manufacturing data later this morning. The HSBC China m
Read moreLondon close: Euro worries drag Footsie down 1.1%
30th Jan 2012 17:13
Just nine stocks in the FTSE 100 finished above water on Monday as the Eurozone crisis weighed heavily on sentiment. With the borrowing rate of Portuguese debt surging, Greek talks still unresolved and an EU summit taking place, a risk-off attitude swept across the market today with resource stocks
Read moreFTSE 100 movers: Banks and miners weigh footsie down
30th Jan 2012 13:18
The banks were in the red as the euro crisis drags on, with Lloyds, Standard Chartered and Royal Bank of Scotland (RBS) among the worst performers. Lloyds is rumoured to be shaking up its management structure, according to the Financial Times. Sources quoted by Reuters indicate that an announcement
Read moreLondon midday: Stocks fall ahead of EU summit
30th Jan 2012 11:55
London's blue chip index had fallen close to its lowest levels of the day by lunchtime ahead of the EU summit in Brussels. Meanwhile, markets were still digesting the downgrade of five Eurozone nations on Friday and the talks between the Greek government and private creditors that are still ongoing.
Read moreLondon open: Banks weigh on Footsie lower early on
30th Jan 2012 08:18
The FTSE 100 slipped towards the 5,700 level in early trade, with the banks providing a drag as investors digested the downgrade of five Eurozone nations and the ongoing talks in Greece. Fitch announced late on Friday to downgrade the ratings of five Eurozone nations - Italy, Spain, Belgium, Cyprus
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