Lloyds director buys up shares
23rd Nov 2011 16:42
Glen Moreno, a non-executive director at banking giant Lloyds, has dipped into his savings to buy £44,180-worth of shares. The 68-year-old, who joined the board in March 2010, purchased 200,000 shares at 22.09p each. Moreno is also the chairman of Pearson, the media group, and director of Fideli
Read moreLondon close: London falls for sixth successive day
21st Nov 2011 17:02
Stocks fell out of a bed with a bump this morning and then in the afternoon session rolled down the stairs all the way to the cellar, as US lawmakers reprised their tiresome wrangling over budget cuts, as previously seen back in July. NO PROGRESS IN CONGRESS With the clock ticking down towards a W
Read moreBroker snap: Lloyds is 'dysfunctional but cheap', says Evolution
21st Nov 2011 15:24
Evolution Securities reiterated its buy rating and 50p target price on Lloyds, saying that while it may be "dysfunctional", the stock remains cheap given the 66% share price fall since February. Though Lloyds says that its chief executive, António Horta-Osório, is making good progress after being o
Read moreFD to quit RSA for Lloyds Banking
21st Nov 2011 14:42
General insurance group RSA is on the look-out for a new chief financial officer after the current incumbent, George Culmer, announced his intention to jump ship to Lloyds Banking Group. Culmer, who has a 12-month notice period, and RSA are still wrangling over an exact leaving date. "I would lik
Read moreLondon midday: Global concerns spark mass sell-off
21st Nov 2011 12:13
After a steep sell-off early on, the FTSE 100 traded sideways in the morning session and remained firmly below the 5,300 level, registering triple-digit losses, as of midday. Stocks markets across Europe suffered falls of between 2% and 3%, while US futures were also pointing to sharp decline, as ne
Read moreFTSE 100 movers: Lloyds lower on board room developments
21st Nov 2011 11:41
Doubts have been cast on whether ailing Lloyds Banking boss António Horta-Osório will return from sick leave before the end of this year, after the company said non-executive director David Roberts would sit in as interim chief executive officer if Horta-Osório's return is delayed. Chief financial
Read moreLloyds makes interim CEO contingency plans
21st Nov 2011 11:35
Though Lloyds Banking says that its chief executive, António Horta-Osório, is making good progress after being ordered by his medical advisors to take a rest, the part-nationalised lender has made contingency plans just in case he does not return to the role by the end of the year as originally plan
Read moreLondon close: Footsie stages late recovery
15th Nov 2011 16:38
London's FTSE 100 index bucked the trend in global markets on Tuesday to trade broadly flat by the close despite some heavy falls for Burberry and the banks. Some slightly better-than-expected domestic economic news seemed to lift sentiment in the UK during the day. Worth noting, UBS has set its ye
Read moreFTSE 100 Movers: Surpise fall for Burberry
15th Nov 2011 13:43
It was a surprise fall for Burberry, the luxury fashion retailer, which has seen profits before tax rise 26% to £162m on revenues of £830m, while the interim dividend has been raised by 40% to 7p per share. Even after Nomura upped its full-year numbers, saying it sees "significant growth potential
Read moreLondon midday: Euro concerns dampen sentiment, Burberry falls
15th Nov 2011 12:05
Just six stocks were in the blue by midday, as reports of political difficulties for the Italy's Prime Minister-in-waiting shook investors' nerves. London's blue chip index remains firmly in negative territory, registering a fall of 1.35% by 12:05. ITALIAN, SPANISH YIELDS ON THE RISE Former EU Com
Read moreTuesday newspaper round-up: Petrol duty, RBS, Britain, carbon floor
15th Nov 2011 06:41
Downing Street is considering scrapping January's planned rise of 3p a litre in petrol duty to avoid imposing another crippling burden on motorists and damaging growth prospects. The Government is worried that the rise will hurt the economy, but cancelling it entirely would leave a £1.5bn hole in th
Read moreLondon close: Italian vote drives late surge
11th Nov 2011 16:46
Just four stocks finished in the red in London as the Footsie closed 1.85% higher, near its highest levels of the day. Sentiment was given a lift around midday after positive newsflow out of Italy and some encouraging economic data from the US. ITALIAN YIELDS DOWN; US DATA PROVIDES A LIFT Italy's
Read moreFTSE 100 Movers: Schroders tops the list
11th Nov 2011 12:30
Schroders was the top riser after Deutsche Bank upgraded the stock to hold from sell, and even though Credit Suisse cut its target to 1,390p from 1,450p. AMEC was also rising after Galvan Research marked the stock out as a buy, saying that it expects the engineering and project management services
Read moreMorning broker round-up - UPDATE
10th Nov 2011 09:48
Experian: Citi reiterates buy with a target of 940p. Experian: Nomura reiterates buy and 867p target. Experian: Prime Markets confirms buy recommendation and 841p target. Anglo American: Citi keeps buy rating and 3,500p target. Admiral: Credit Suisse downgrades from neutral to underperform, targ
Read moreLondon close: Italian fears spark sell-off
9th Nov 2011 16:30
The top share index in London finished at its lowest levels of the day on Wednesday afternoon, as worries over the dire financial situation in Italy caused a mass sell-off across all European markets. The same worries also dampened sentiment in the US, with the three Wall Street benchmarks dropping
Read more