London pre-open: Early gains predicted
25th Feb 2011 07:58
Footsie is tipped to moved ahead in early dealings as Saudi Arabia moved to calm the panic stricken oil markets. Initial estimates are for the index to open up 26 points from its previous close of 5,920. Saudi Arabia is prepared to increase supplies and the kingdom has entered "active talks" with E
Read moreLloyds retail profit soars
25th Feb 2011 07:08
State-controlled Lloyds Banking swung back into profit last year as impairment charges almost halved and retail net margins improved. Pre-tax profits were £281m, down from £1bn, but on a continuing basis profits were £2.2bn against a loss of £6.4bn. Market forecasts had been for a profit between £
Read moreFriday preview: Lloyds Banking, IAG
24th Feb 2011 16:49
After the brouhaha that surrounded Royal Bank of Scotland's disappointing and eye-numbingly detailed full year results it is the turn of another part-nationalised lender, Lloyds Banking , to update the market on Friday. Charles Stanley is predicting a return to profitability, and has a pre-tax pro
Read moreBroker snap: Nomura prefers Lloyds to RBS
24th Feb 2011 12:45
There was nothing in the full year results from Royal Bank of Scotland (RBS) to persuade Nomura Securities to abandon its preference for fellow part-nationalised lender Lloyds Banking. The Japanese broker reiterated its 'reduce' recommendation on Royal Bank of Scotland after the figures came in muc
Read moreThursday newspaper round-up: Lloyds, RBS, JJB, $220-a-barrel oil
24th Feb 2011 06:27
Qatar, the natural gas-rich Middle Eastern state which owns stakes in Barclays and Sainsbury's, could invest in Lloyds and Royal Bank of Scotland, the banking groups part-nationalised at the height of the financial crisis. The Treasury owns about 83% of RBS and about 40% of Lloyds, with the stakes m
Read moreFTSE 100 movers: Miners lead the fall
23rd Feb 2011 14:20
Declining metals prices have pushed Antofagasta, Xstrata and Fresnillo lower. Consumer packaging giant Rexam has been hit by profit-taking even though it grew underlying profit by a bigger than expected 45% in 2010 and expects further progress this year. Profit before tax and exceptional items jum
Read moreLondon open: Libya casts pall over blue chips
23rd Feb 2011 08:51
London has opened with Libya on its mind amid fears that the unrest sweeping through the country and the Middle East could destabilise Bahrain as well. Brent crude hit over $107 per barrel, up 1% today, as the violence and rhetoric in Libya increased. Libyan leader Muammar Qaddafi vowed to fight a
Read moreTuesday newspaper round-up: Halifax, Libya, interest rates
22nd Feb 2011 06:28
Hundreds of thousands of Halifax borrowers are set to receive a windfall because of a poorly drafted paragraph in mortgage offer letters that will cost Lloyds Banking Group £500m. The payout announced by the Halifax's new parent yesterday is a record figure for customer redress by a single financial
Read moreLondon close: Shares fall as Libya crisis intensifies
21st Feb 2011 16:53
The top share index was nursing big losses at trading's close as worries over the turmoil in Libya sent the oil price soaring and continued high usage of the European Central Bank's marginal lending facility stoked nervousness over banks. Banks are granted the right to seek overnight loans from th
Read moreLondon afternoon: ECB emergency loans give banks jitters
21st Feb 2011 14:26
Concerns about rising oil prices should Libya descend into civil war are nagging away at investors, while continued high usage of the European Central Bank's marginal lending facility is making traders nervous about banks. Banks are granted the right to seek overnight loans from the European Centr
Read moreLloyds takes £500m hit for mortgage confusion
21st Feb 2011 12:32
Lloyds Banking is to take a £500m charge in its results this week to cover potential compensation costs from badly worded mortgage agreements. The confusion arose after some customers wrongly assumed after reading their mortgage offer that Halifax would notify them if it raised the cap, or link to
Read moreLondon midday: Banks hold back FTSE 100
21st Feb 2011 12:12
Shares are in the red as banking stocks fall back and the turmoil in the Arab world casts a shadow. Banks are the main drag, with RBS, Lloyds and Barclays nursing losses following gains last week. RBS and Lloyds are due to release results later this week. The oil price has topped $104 a barrel as
Read moreFTSE 100 movers: Banks head lower
21st Feb 2011 11:58
RBS and Lloyds are lower ahead of their results later this week. On top of that, Lloyds has announced a voluntary agreement with the FSA about certain Halifax mortgage contracts. This relates to the wording of the mortgage contracts. Barclays is also lower. Invensys is higher because of press spec
Read moreLloyds may speed up branch sell-off
18th Feb 2011 14:45
Lloyds Banking has reportedly stepped up plans to dispose of 600 branches and is interviewing advisers to handle the disposal. Outgoing chief executive Eric Daniels had suggested the sale could take two years, but new chief Antonio Horta-Osorio is said to want to complete any deal within months. T
Read moreWeek Ahead: BoE meeting minutes, RBS, Lloyds
18th Feb 2011 10:53
With each month that passes the release of the minutes of the meeting of the Monetary Policy Committee (MPC) become more eagerly anticipated, as the consensus view of the rate-setting committee starts to fragment. The Bank of England's quarterly inflation report on Wednesday conceded that the cent
Read more