Lloyds makes provision for potential mis-selling
5th May 2011 07:15
First quarter profits fell sharply at part-nationalised lender Lloyds Banking, as the bank took an impairment charge that was half a billion pounds larger than it was expecting. The group, still labouring under the weight of the controversial HBOS acquisition, saw profit before tax fall to £284m in
Read moreThursday preview: BoE rate decision, Lloyds, Morrisons ...
4th May 2011 18:36
It is a big day for central banks on Thursday with the Bank of England and the European Central Bank both set to announce their interest rate decisions, though neither is expected to alter course ... yet. For the Bank of England's Monetary Policy Committee (MPC), the pressure to lift interest rates
Read moreFTSE 100 movers: Aggreko leaps on full year guidance
27th Apr 2011 13:39
Temporary power supplier Aggreko has surged ahead after saying it expects its full year profits to be slightly ahead of 2010 after a strong start to the year. Airline IAG is firmly highly, continuing from strong gains made yesterday. Engineers GKN, IMI and Weir Group are also among the best perfo
Read moreTuesday newspaper round-up: Lloyds, HSBC, Barclays
26th Apr 2011 06:31
Lloyds Banking Group, which is now 43% owned by the taxpayer, is reported to be considering a sale of its pensions and insurance business Scottish Widows. The group's new chief executive, Antonio Horta-Osorio, is said to be poised to offload the subsidiary, possibly together with the bank's 60 per c
Read moreFTSE 100 movers: Resolution unwanted after downgrade
18th Apr 2011 13:43
Insurance giant Resolution is the worst performer on the FTSE 100, after being downgraded from 'buy' to 'neutral' by UBS. The broker cuts its rating given the weak operational performance, mixed valuation picture and strong recent share price performance. The share price is left at 300p. Also lowe
Read moreFTSE 100 movers: Banking shares head south
15th Apr 2011 12:37
The banking sector is heading lower today as sentiment sours after credit rating agency Moody's cut its rating for Ireland's sovereign debt by two levels to Baa3 from Baa1, while retaining its negative outlook. RBS, Lloyds and Barclays are among the worst performers. Also in the red are the blue ch
Read moreLondon midday: Banks dull after Ireland downgrade
15th Apr 2011 12:02
The top share index failed to regain the 6,000 level in the morning, but came close before subsiding just before midday. Banks are dragging the index lower, offsetting good gains among property companies. Banks such as Royal Bank of Scotland, Lloyds and Barclays are off the pace as sentiment sour
Read moreLondon close: Retailers lift Footsie higher
13th Apr 2011 16:08
While the Footsie came off its daily highs, it still managed to post a gain of close to 1% as strong results from ASOS boosted the retail sector higher. Meanwhile, stocks were recovering from the 89 point sell-off yesterday, its worst one-day fall since mid-March. Strong growth overseas helped the
Read moreTuesday newspaper round-up: Banking commission, tablets, UK growth
12th Apr 2011 06:07
Banks breathed a sigh of relief yesterday as the Government's Independent Commission on Banking (ICB) stopped short of proposing radical measures to increase stability and competition in the sector. Presenting what he called "moderate" interim recommendations on banking reform, Sir John Vickers, the
Read moreLondon close: Flat finish despite banks' advance
11th Apr 2011 16:54
The top share index was seeking direction all day Monday even as banks advanced following the publication of changes proposed for the sector by the Independent Commission on Banking (ICB). While Lloyds Banking had a grumble about the ICB's recommendation that it should have to sell more than 600 br
Read moreFTSE 100 movers: Banks firmer after ICB report
11th Apr 2011 15:02
The banking sector is performing well today after a report from the Independent Commission on Banking (ICB). The ICB stopped short of recommending that banks that have investment banking arms should demerge those operations. Instead, it has recommended that banks' retail operations should be protec
Read moreLondon afternoon: Burberry eases after third quake
11th Apr 2011 14:15
The Independent Commission on Banking (ICB) has issued its interim report on changes proposed for the sector, and while Lloyds Banking has had a grumble about the ICB's recommendation that it should have to sell more than 600 branches, the market's reaction is that the report looks favourable for th
Read moreLloyds protests ICB's call for more disposals
11th Apr 2011 11:58
Lloyds Banking Group has hit back at a recommendation by the Independent Banking Commission that it should sell more than branches than the bank currently intends. It said Lloyds proposed sale of 600 branches would have a limited impact on competition and proposes "enhancing the divesture." But Ll
Read moreBanks urged to separate retail and investment arms
11th Apr 2011 08:04
Banks' retail operations should be separated from their investment banking arms, the Independent Commission on Banking (ICB) has recommended. The recommendation comes in the ICB's interim report on the sector, with the final report due to be released in September. The ICB stops short of advising t
Read moreLondon close: Shares in late dive
7th Apr 2011 16:43
Shares were little changed for much of the day as central banks in London and Frankfurt acted as expected, but another earthquake in Japan sent jitters through markets ahead of the close. The Bank of England kept its key lending rate unchanged. The European Central Bank, however, stuck to its scrip
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