London midday: Footsie extends gains, banks jump
9th Dec 2011 12:02
A strong performance by the banks and the miners lifted the FTSE 100 into positive territory by lunchtime, despite a fall early on, as markets digest last night's developments from the EU summit. Bourses across the Eurozone were all in the blue ahead of the conclusion of the meeting this afternoon.
Read moreLloyds boss has to 'reapply for own job'
9th Dec 2011 09:05
Lloyds Banking Group boss Antonio Horta-Osorio is ready to return to work, but will have to effectively reapply for his own job, according to media reports. Chief executive António Horta-Osório went on stress-induced medical leave in early November. Reports say the board of the bank will meet next
Read moreLondon open: Stocks flat, trading cautious after summit
9th Dec 2011 08:29
It was a flat start for the Footsie as investors digested the details coming from last night's pivotal summit, in which leaders failed to make sweeping changes to treaties which govern all 27 members of the European Union. EU SUMMIT DISAPPOINTS Britain blocked an agreement that would apply to all
Read moreFriday newspaper round-up: Cameron, Lloyds, LSE
9th Dec 2011 07:20
Natural gas will eclipse coal as the world's second-biggest source of energy in just over ten years, according to ExxonMobil's latest annual survey. Global demand for natural gas will soar by 60% between now and 2040, a rate of growth that will see it steal the number two spot from coal in 2025, the
Read moreLondon close: Stocks plummet after ECB
8th Dec 2011 16:43
The Footsie took a tumble in the afternoon as initial optimism following the European Central Bank (ECB) decision to cut rates quickly faded after a press conference with its president Mario Draghi. In the last two-or-so hours of trade, London's blue chip index dropped more than 100 points from its
Read moreFTSE 100 Movers: GKN falls on downgrade
8th Dec 2011 15:25
GKN continued to fall on news that Credit Suisse had downgraded the stock from outperform to neutral. Standard Chartered fell after saying its income for 2011 is now expected to grow at "just below a double digit rate" after a depreciation in Asian exchange rates against the dollar. Previously the
Read moreFTSE 100 Movers: Banks fall on negative news from Europe
7th Dec 2011 15:13
Miners continued to rise following a strong morning trade, with Randgold Resources leading the way after gaining over 3% and Eurasian Natural Resources not far behind. Although not on the top 10, Kazakhmys, Antofagasta, Rio Tinto, Xstrata and Vedanta were also performing well. However, banks were n
Read moreLloyds selects Lone Star as preferred bidder
7th Dec 2011 12:30
Lone Star, a US private equity group, has been named as the exclusive bidder for £900m-worth of distressed property loans currently owned by Lloyds Banking Group, according to the Financial Times. The property loans, known as the Project Royal portfolio, is the biggest disposal of loans by a UK ban
Read moreLondon midday: Stocks pare gains, euro in focus
7th Dec 2011 11:49
The Footsie was trading well below its intraday high of 5,626 reached in early trading. However, the index was still making moderate gains - up 0.33% at 5,587 by midday - on fresh optimism over the Eurozone, as leaders draw up plans to increase the region's firepower against the crisis. Miners domi
Read moreLondon midday: Footsie in the blue despite S&P warning
6th Dec 2011 12:01
UK equities pushed into positive territory (albeit only slightly) by midday but trade was choppy in the morning session, as a Standard & Poor's warning over Eurozone ratings rattled markets' nerves. Nevertheless, US futures were pointing to a positive start on Wall Street, providing a lift here in
Read moreLondon open: Flat start after S&P warning
6th Dec 2011 08:23
UK stocks opened flat on Tuesday morning as yesterday's optimism surrounding the key Merkel-Sarkozy meeting and an upcoming EU summit was outweighed by some worrying comments from Standard & Poor's (S&P). S&P WARNS OF MASS EUROZONE DOWNGRADE Reports of a impending credit rating agency action on th
Read moreLondon close: Gains pared after 'Merkozy' meeting
5th Dec 2011 16:23
Gains for the FTSE 100 were trimmed late on after earlier optimism surrounding the key Franco-German meeting faded, but the index still finished modestly higher, up 0.28%. Investors will likely be cautious ahead of a pivotal EU summit to take place on Friday. "WE NEED STRUCTURAL CHANGES" German Ch
Read moreSector movers: Banks rise on euro optimism
5th Dec 2011 16:05
Banks continued to rise with Lloyds leading the way, rising over 7% on hopes that leaders can bring an end to the euro crisis. RBS and Barclays were also making gains. As the continent gears up for the EU summit on Friday, which is to focus on proposals to move euro area countries further towards c
Read moreFTSE 100 Movers: Banks rise on euro hopes
5th Dec 2011 14:35
Banks continued to lift the index with Lloyds leading the way, rising over 8% on hopes that leaders can bring an end to the euro crisis. RBS and Barclays were also making gains. As the continent gears up for the EU summit on Friday, which is to focus on proposals to move euro area countries furthe
Read moreLondon midday: Banks lift Footsie on euro optimism
5th Dec 2011 12:00
Hopes that leaders can bring an end to the euro crisis lifted markets on Monday. Many believe that it is now make-or-break time for the single currency, echoing remarks made last week by Economic and Monetary Affairs Commissioner Olli Rehn that the continent had just 10 days to save the euro. The de
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