Lloyds facing ratings downgrade from Moody's
9th Nov 2011 16:09
The credit ratings agency Moody's has fired a warning shot across the bows of Lloyds Banking Group by threatening to downgrade its A1 unsecured debt rating. Moody's says "the review has been prompted by the significant upheaval within Lloyds' senior management , following the announcement that the
Read moreLondon midday: Financials take a hit as Italian bond yields jump
9th Nov 2011 12:14
Despite a modest start, the Footsie took a tumble during morning trade and stood at its lowest levels of the day by lunchtime, as the focus turned to Italy's soaring borrowing costs. Financials were leading the decline on the blue chip index. ITALIAN BOND YIELDS KEEP ON RISING Yields on benchmark
Read moreWednesday broker round-up - UPDATE
9th Nov 2011 09:58
Admiral: Nomura puts buy rating and 1,900p target under review Admiral: Investec keeps sell rating and 843p target. HSBC: Evolutions Securities keeps sell rating and 650p target. British American Tobacco: Alpha Value downgrades to reduce from add. Regus: Credit Suisse upgrades from neutral to o
Read moreLondon close: Stocks stop at resistance again, despite Italy news
8th Nov 2011 18:08
UK stocks finished higher on Tuesday, but off their best levels off the day, as investors attempt to digest the potentially extremely serious implications of the 'soap-opera' that Euroland has become of late. In today's episode Italian Prime Minister Silvio Berlusconi has lost his absolute major
Read moreFTSE 100 Movers: Lloyds rises despite £3.9bn loss
8th Nov 2011 12:46
Shares in Lloyds Banking Group surged this morning despite the firm reporting a £3.9bn loss for the first nine months of 2011. Much of the loss - £3.2bn - was down to the bank setting money aside for the mis-selling of payment protection insurance, but its total income for the period also fell 15%
Read moreUPDATE: Lloyds shares jump despite heavy loss
8th Nov 2011 10:35
Shares in Lloyds Banking Group surged this morning despite the firm reporting a £3.9bn loss for the first nine months of 2011. Much of the loss - £3.2bn - was down to the bank setting money aside for the mis-selling of payment protection insurance, but its total income for the period also fell 15%
Read moreLondon open: Thumbs-up for Lloyds
8th Nov 2011 08:44
It has been a hectic morning for big company announcements, busy enough to distract traders from events in the Eurozone. Eight of the FTSE 100 companies have made trading updates already, while insurance giant Prudential is set to weigh in with his third quarter update at 9:00am. Part-nationalised
Read moreLondon pre-open: Lloyds plays 'pick a number'
8th Nov 2011 07:34
London is set to make a quiet start, possibly because traders are trying to determine which numbers to focus on in the trading update this morning from Lloyds Banking. City sources predict the FTSE 100 will open up 9 points from yesterday's close of 5,527. Part-nationalised lender Lloyds Banking
Read moreProfits down at Lloyds as financial instability begins to bite
8th Nov 2011 07:32
Lloyds Banking Group has seen profits and income fall between July and September as financial uncertainty has made life difficult for Britain's biggest high street lender. Total income net of insurance was £5,075m in the third quarter, down 5.5% on the April to June period and down 8% on the equiv
Read moreTuesday preview: Lloyds, M&S, AB Foods, Prudential
7th Nov 2011 18:03
Temporary chief executive Tim Tookey will no doubt be handling conference call duties on Tuesday after the release of third quarter figures from part-nationalised lender Lloyds Banking. Tookey, the group's chief financial officer, is standing in for António Horta-Osório, while the Portuguese boss re
Read moreWeek Ahead: Lloyds Banking, Marks and Spencer, BoE
4th Nov 2011 10:00
There is no shortage of big companies reporting in the second week of November, with the likes of HSBC and Lloyds keeping the banking results season ticking over, and Legal & General continuing the spate of insurers reporting. On top of that, the Bank of England will be reporting on Thursday on how
Read moreLondon close: US jobs data fuels rally
2nd Nov 2011 16:40
UK equities finished near their highest levels on the day after better-than-expected jobs data in the US gave a boost to markets this side of the Atlantic. The Footsie finished over 1% higher, despite falling into the red before midday, as investors continue to keep an eye on ongoing developments in
Read moreFTSE 100 Movers: Miners rising high
2nd Nov 2011 13:39
Africa-focused gold miner Randgold Resources surged higher after profits for the third quarter jumped by 336% on last year to $122.9m, helped by the sale of 31,646 ounces of previously held gold on hand at Tongon. Mining peers Fresnillo and Kazakhmys were also higher. Miners were also buoyed by ri
Read moreLondon midday: Footsie slips into the red
2nd Nov 2011 12:41
The FTSE 100 swung between gains and losses on Wednesday morning as investors kept their eye on developments in the Eurozone. By midday, the blue chip index was slightly in the red, with some disappointing manufacturing data weighing on sentiment. GREECE, EUROZONE MANUFACTURING, US FED The decisio
Read moreLondon open: Modest recovery led by Next
2nd Nov 2011 09:24
The Footsie was making a modest recovery on Wednesday, following yesterday's mass sell-off on the back of news of a Greek referendum. While the situation in the debt-laden country seems to be getting worse - with its prime minister rejecting calls for the vote to be cancelled - buyers returned to Eu
Read more