Sector movers: GKN drives auto stocks higher
29th Nov 2011 15:45
The automobiles and parts sector was the best performer of the day, with engineering giant GKN providing a lift. GKN shares were given a boost on Tuesday after Moody's changed the outlook on the stock's Ba1 rating from stable to positive. According to financial website ThisisMoney.co.uk, GKN shar
Read moreFTSE 100 Movers: Randgold shines again
29th Nov 2011 15:20
Randgold Resources was the top performer, rising over 5%, climbing its way back after yesterday's fall. On Monday, the firm cut its production forecast for the year after running into a number of difficulties at its Tongon mine in Côte d'Ivoire. The firm said that it now expects group production for
Read moreLondon midday: Modest gains ahead of Osborne speech
29th Nov 2011 12:01
With US stock futures pointing to a positive start on Wall Street, London's FTSE 100 index reversed its earlier losses to trade modestly in the blue by midday on Tuesday. All eyes have turned to the Chancellor of the Exchequer, ALL EYES ON GEORGE George Osborne is to make his Autumn statement at
Read moreLondon close: Footsie rises above 5,300
28th Nov 2011 17:29
Footsie stormed above 5,200 in trading and kept on going, finishing north of 5,300 on hopes that tomorrow's meeting of Eurozone finance ministers in Brussels will be the occasion on which a number of new measured, aimed at getting to grips with the region's debt problems, will be announced. Banks w
Read moreFTSE 100 Movers: Banks lead the charge
28th Nov 2011 14:17
Lenders Royal Bank of Scotland, Barclays, Lloyds and Standard Chartered are all sharply higher on the prospect that their losses on European sovereign debt may not now be so severe. Lenders were buoyed by suggestions that progress is being made on the souped-up version of the European Financial St
Read moreLondon midday: Eurozone hopes boost banks
28th Nov 2011 12:18
Stocks markets across Europe are racing ahead and London is no exception, with the top-share index now back above the level it closed at on Monday night. Banks are prominent among the best performers, buoyed by suggestions that progress is being made on the souped-up version of the European Financ
Read moreLondon open: Sun comes out for Thomas Cook
28th Nov 2011 08:45
Banks are leading London higher, buoyed by reports that the Eurozone finance ministers are set to do them a favour when they meet in Brussels tomorrow. Reports say the finance chiefs are discussing the possibility that the European Financial Stability Facility (EFSF) could insure the bonds of debt
Read moreBroker snap: CEO's return not a big issue for Lloyds, UBS says
25th Nov 2011 13:34
Analysts at UBS have lowered their price target on shares of part-nationalised lender Lloyds Banking to 55p per share from the previous 60p and reiterated their 'buy' recommendation. They hold that uncertainty over Lloyds' management structure does not make for improved confidence, but on the who
Read moreFriday broker round-up: Atkins WS, Johnson Matthey, BT
25th Nov 2011 09:58
Atkins WS: UBS reiterates neutral, raises price target to 600p from 560p. Johnson Matthey: UBS reiterates buy, ups target to 2015p from 1915p. Lloyds: UBS reiterates buy, lowers target to 55p from 60p. BT Group: Credit Suisse reiterates outperform. Intermediate Capital Group: Credit Suisse reite
Read moreLloyds 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 more