CFO Tookey to be interim CEO at Lloyds Banking
2nd Nov 2011 07:46
Chief financial officer Tim Tookey is to sit in for António Horta-Osório as chief executive of Lloyds Banking while the hard-charging boss takes a well earned rest. Tookey's stint as chief executive is not expected to last beyond the end of the year, after which he will return to his previous role
Read moreLondon close: Miners plummet, Footsie drops 2.8%
31st Oct 2011 16:33
London's blue chips registered an average fall of 2.77% on Monday as a steep sell-off in the heavyweight mining sector dragged the Footsie down to 5,544, 158 points off Friday's close of 5,702. Just three stocks finished the day with gains. The steady decline continued following a dreary start on W
Read moreLondon midday: Miners tumble as Japan intervenes
31st Oct 2011 12:15
The miners dragged the Footsie over 1% lower by midday after Japan's intervention into the currency markets and Chinese demand worries spurred a fall in commodity prices. London's blue chip index remains firmly in the red at the 5,641 mark, down from Friday's close of 5,702. In economic news, the g
Read moreLondon close: Choppy FTSE 100 closes lower
28th Oct 2011 17:08
Shares finished slightly lower after a quiet day on the company news front, giving traders a chance to sit back and appraise the latest developments in the Eurozone saga. Stock markets across the globe surged higher yesterday, with the three US benchmarks rising by an average 3% last night after le
Read moreFTSE 100 Movers: Bank investors loose enthusiasm
28th Oct 2011 13:17
ITV was on the up after RBS reiterated its "buy" hold on the stock. Meanwhile, International Consolidated Airlines dipped following a target price cut from UBS from 260p to 240p. Barclays was also falling despite an upgrade from J.P.Morgan from neutral to overweight and a "buy" reiteration from
Read moreLondon midday: Pause for breath after euro boost
28th Oct 2011 12:01
Shares are still flat amid a quiet day on the company news front, giving traders a chance to sit back and appraise the latest developments in the Eurozone saga. SUBDUED START AFTER YESTERDAY'S SURGE Stock markets across the globe surged higher yesterday, with the three US benchmarks rising by an a
Read moreUPDATE: Friday broker round-up
28th Oct 2011 09:13
HSBC/Standard Chartered: Citi chief economist William Buiter argues today that: "World trade is set for a prolonged boom and a marked transformation. Transaction banking and trade finance should track the direction of trade and economic growth in the long term. (...) Standard Chartered and HSBC shou
Read moreLondon open: Flat start for the Footsie
28th Oct 2011 08:40
The FTSE 100 opened flat on Friday morning following yesterday's massive 2.9% gain on the back of strong US economic data and the pivotal Eurozone agreements announced yesterday. SUBDUED START AFTER STRONG DAY ON THURSDAY Stock markets across the globe surged higher yesterday, with the three US b
Read moreLondon close: Big gains on Euro hopes
27th Oct 2011 16:43
Stocks posted big gains amid optimism following the agreements reached on the Eurozone situation last night. Banks in particular are on the attack, with Barclays and RBS posting double-digit gains. EUROZONE AGREEMENT BOOSTS THE MARKETS Working into the early hours of the morning, Eurozone official
Read moreBroker tips: Lloyds, Glaxo, Laird
27th Oct 2011 12:53
Credit Suisse has cut its target price for British bank Lloyds by 22.5% ahead of the firm's third quarter statement due on 8 November. The Swiss broker has increased its 2011 underlying loss per share expectations from 0.3p to 0.6p. Also, underlying earnings per share estimates have been cut from 3
Read moreLondon midday: Double-digit gains for Barclays, RBS
27th Oct 2011 12:04
Stocks are posting big gains amid optimism following the agreements reached on the Eurozone situation last night. Banks in particular are on the attack, with Barclays and RBS posting double-digit gains. EUROZONE AGREEMENT BOOSTS THE MARKETS Working into the early hours of the morning, Eurozone off
Read moreBroker snap: Credit Suisse expects weak Q3 at Lloyds, target cut
27th Oct 2011 11:16
Credit Suisse has cut its target price for British bank Lloyds by 22.5% ahead of the firm's third quarter statement due on 8 November. The Swiss broker has increased its 2011 underlying loss per share expectations from 0.3p to 0.6p. Also, underlying earnings per share estimates have been cut from 3
Read moreUPDATE: Thursday broker round-up
27th Oct 2011 09:09
Smith&Nephew: Citi reiterates sell. Anglo American: Citi maintains at buy. Invensys: UBS raises to neutral-short term buy from neutral. Lowers target to 225p from 250p. Bellway: UBS keeps at buy, raises target price to 825p from 793p. Lloyds: Credit Suisse cuts target to 31p from 40p, keeps at
Read moreLondon open: Markets celebrate euro agreements
27th Oct 2011 08:30
Just one stock was in the red on the FTSE 100 in the opening minutes of Thursday, as markets turned bullish on the back of a three-prongued deal in the Eurozone last night. The blue chip index in London jumped 1.85% early on, joining all major benchmarks across the continent this morning, with indic
Read moreLondon close: Banks buoyed by bailout beef-up
19th Oct 2011 16:50
Footsie enjoyed a buoyant if unspectacular day, with almost two-thirds of its constituents finishing in the blue. The market shrugged off the news that Spain's credit rating has been cut by two notches by the Moody's rating agency, and preferred to concentrate on a report in The Guardian newspaper
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