Broker snap: Little to excite at UK banks
3rd Feb 2011 13:06
According to Credit Suisse, there is "little to excite" investors in UK banking: Barclays remains the broker's top pick in the sector, while target prices are reduced for Lloyds, RBS, HSBC and Standard Chartered. In regards to the sector as a whole, "our advice is unchanged", says analyst John Pier
Read moreThursday newspaper round-up: Lloyds Banking, BP, Irish banks
3rd Feb 2011 06:01
Lloyds Banking Group plans to create a vehicle to manage thousands of homes that it could then sell or float. The bank, which is heavily exposed to the British residential sector, is thought to be at a fairly advanced stage of setting up a special-purpose vehicle, or "residential asset management pl
Read moreMonday newspaper round-up: LSE, BP, Dividends...
31st Jan 2011 06:44
Stock exchanges in Britain and the US have turned to the security services for help after discovering they were the victims of terrorist plots and attempted cyber attacks that aimed to spread panic in leading global financial markets. The London Stock Exchange has been working with the Cabinet Offi
Read moreUKFI defends Lloyds/RBS bonuses
27th Jan 2011 12:26
UK Financial Investments, which oversees the taxpayer's stakes in Lloyds Banking and Royal Bank of Scotland, has defended the banks' staff bonuses as necessary to attract talent to maintain their value. UKFI chief executive Mark Budenberg told a select committee of MPs that the banks needed to reta
Read moreFTSE 100 movers: Miners head lower
25th Jan 2011 12:26
Miners are in decline with African Barrick Gold leading them down. Randgold Resources and Kazakhmys are also lower. European banks are out of favour with Lloyds Banking the biggest faller. International Consolidated Airlines has fallen back on its second day of trading. Friends Provident, th
Read moreLondon pre-open: Stocks to make modest headway
25th Jan 2011 07:35
Stocks are expected to head higher at the outset but investors have half an eye on the US Federal Reserve's rate setting committee, which meets tomorrow evening, and may therefore be reluctant to over commit. City traders expect the FTSE 100 will open around 15 points higher. Water group Severn Tr
Read moreFriends raids Lloyds for new chief
25th Jan 2011 07:11
Friends Provident, the trading business of life insurance consolidator Resolution, has appointed Andy Briggs as chief executive with current incumbent Trevor Matthews moving to a new post of vice chairman. Friends said that Matthews has decided to move back to Australia within the next three years
Read moreLondon close: Shares jump after sluggish start
24th Jan 2011 16:46
Shares put their early indecisiveness behind them to close with good gains after a decent start on Wall Street. Banks were weak after comments by the head of the Independent Banking Commission over stricter capital rules and possible separation of the retail and investment bank arms. The political
Read moreLondon afternoon: Stocks edge higher
24th Jan 2011 14:49
After a morning of indecision, leading shares pushed on over the lunch time session, despite the weakness of the banking sector. Banks are weak after comments by the head of the Independent Banking Commission over stricter capital rules and possible separation of the retail and investment bank arms
Read moreSector movers: Pharmaceuticals up, banks down
24th Jan 2011 14:27
Pharmaceuticals and biotechnology is the best performing sector today. Source Bioscience put in a solid trading performance during November and December 2010 and full year 2010 results should be in line with market expectations. "Both our LifeSciences and PharmaBiotech divisions demonstrated double
Read moreNGnooncall:Equity markets fairly quiet on slow day for data
24th Jan 2011 13:40
UK UK markets have traded fairly quietly today with the banking sector leading the fallers after the report at the weekend by Sir John Vickers, chairman of the Independent Commission on Banking, said the financial crisis had exposed a "damagingly rickety structure" at the heart of the financial syst
Read moreFTSE 100 movers: Banks turn lower
24th Jan 2011 12:50
RBS and Lloyds are both lower after comments by the head of the Independent Banking Commission over stricter capital rules and the possible separation of the retail and investment bank arms. The political problems in Ireland have also unsettled financials. Goldman Sachs has downgraded engineer In
Read moreLondon midday: Banks hold back FTSE 100
24th Jan 2011 12:13
Shares are still seeking direction as banks fall back. The sector is weak after comments by the head of the Independent Banking Commission over stricter capital rules and possible separation of the retail and investment bank arms. The political problems in Ireland have also unsettled the mood. RBS
Read moreLondon open: Cautious start to week
24th Jan 2011 08:51
London is muddling along in the early exchanges despite the decent finish to last week on Wall Street. Banks are weak after comments by the head of the Independent Banking Commission over stricter capital rules and possible separation of the retail and investment bank arms. The political problems i
Read moreProject Merlin progress stalls
23rd Jan 2011 14:29
Talks between the UK's big banks and the government over the amount they will lend to small businesses have stalled, according to reports over the weekend. Project Merlin, as the plan is known, had been tipped to be unveiled possibly as early as Monday, but last minute hitches mean an agreement may
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