London 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
Read moreLondon midday: Stocks stay buoyant
19th Oct 2011 11:59
Shares are buoyant today, winning back some of the previous day's losses despite ongoing worries over the Eurozone. A 48-hour general strike has been called in Greece ahead of a vote on austerity measures. Spain, meanwhile, had its credit rating cut by two notches last night by the Moody's rating a
Read moreLondon open: RBS, Barclays and Lloyds lead the way
19th Oct 2011 08:32
Greece has been crippled by strikes. Spain's debt has been downgraded by Moody's. And EU officials say no deal has been reached on scaling up the Eurozone fund. But for now London's leading share index is in positive territory. A 48-hour general strike has been called in Greece ahead of a vote on a
Read moreWednesday newspaper round-up: RBS/Lloyds, Mervyn King, Lord Wolfson
19th Oct 2011 06:05
Companies are cutting their business with the taxpayer-owned lenders Royal Bank of Scotland and Lloyds amid fears that the cost of borrowing will rise after the recent ratings downgrade by Moody's. The Association of Corporate Treasurers told MPs yesterday that corporate borrowers had already begun
Read moreLondon open: Footsie flat early on
14th Oct 2011 08:35
The Footsie has opened flat despite expectations that Thursday's vote by Slovakia to expand the Eurozone' rescue fund would give a boost to equities early on. After the close last night, the expansion of Eurozone's rescue fund, the European Financial Stability Fund (EFSF), was approved by Slovak MP
Read moreLondon close: Banks drag market lower after Fitch downgrade
13th Oct 2011 16:34
A late rally drove the Footsie back above the 5,400 mark, but the blue chip index still finished 0.71% down after Fitch dampened sentiment in the banking sector. Not helping the mood was the International Monetary Fund (IMF) which lowered its growth forecasts for Asia for this year and next. The re
Read moreSector movers: Rolls-Royce lifts aerospace/defence stocks
13th Oct 2011 16:18
Power systems giant Rolls-Royce surged 9% on Thursday, helping the aerospace and defence sector to the top of the pile. Late last night, the firm revealed two major initiatives which are expected to significantly raise its operating profits in the future. It plans to sell its 32.5% stake in the bus
Read moreFitch cuts rating for Lloyds and RBS
13th Oct 2011 15:28
Ratings agency Fitch has confirmed speculation and cut ratings across the UK banking sector, downgrading part-nationalised lenders Lloyds and Royal Bank of Scotland (RBS) due to uncertainties about the level of government support that they may receive. Ratings for Lloyds and RBS - which were alread
Read moreALERT -Fitch cuts ratings on RBS and Lloyds
13th Oct 2011 14:08
Fitch cuts ratings on RBS and Lloyds. AB
Read moreUPDATE: Fitch could downgrade UK banks today, says Sky News
13th Oct 2011 11:17
The banks tumbled lower late Thursday morning - despite rising earlier on - on the back of reports that Fitch could cut ratings across sector. Barclays was the heaviest faller, losing over 4% as of 11:48, while HSBC and Lloyds were also under the cosh. "The credit ratings agency Fitch is poised to
Read moreLondon close: Higher finish after choppy day
12th Oct 2011 16:36
London's leading share index closed in the blue as worries over the Slovak parliament's rejection of the European Financial Stability Fund (EFSF) gave way to optimism that it will be passed. SLOVAK SEE-SAW Late Tuesday night, just 55 of the 150 MPs in Slovakia's parliament voted in favour of expan
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