Lloyds 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 moreLondon close: Blue chips close flat
17th Feb 2011 16:51
Footsie closed the day a shade higher having traded in a very narrow range all day as both buyers and sellers seem preoccupied with other things. Life insurance consolidator Resolution closed as top performer saying it is unlikely to make any further acquisitions this year. Instead, it will focus
Read moreLondon afternoon: Footsie stumbles after US CPI data
17th Feb 2011 14:43
Footsie fell back over the lunchtime session with sentiment taking a knock from a bigger than expected increase in US consumer prices. The US Consumer Price Index rose 0.4% in January, as it did in December, on the back of higher fuel and food prices. Economists had pencilled in a 0.3% rise. On th
Read moreBroker tips: Reed Elsevier, BHP Billiton, Lloyds Banking
17th Feb 2011 13:02
BarCap has retained its 'underweight' stance on business and academic publisher Reed Elsevier, despite a healthy set of full-year results and a reasonable outlook for 2011. The group reported revenues of £6.06bn, versus consensus of £5.82bn, as underlying growth improved to 2% in 2010, from a fall
Read moreFTSE 100 movers: Banks move higher
17th Feb 2011 12:22
Banks head the risers. Positive comment from Nomura has boosted Lloyds. Even so, RBS, HSBC and Barclays are also higher. African Barrick Gold continues to rise after yesterday's figures. BAE Systems has fallen after warning that sales in 2011 will decline as cutbacks in government spending star
Read moreLondon midday: Shares little changed
17th Feb 2011 12:07
Banks are setting the pace today, while other stocks are moving in both directions after updates. The FTSE 100 is flat overall. Nomura says Lloyds Banking Group is the preferred name of the UK lenders, and has the best exposure to recovery of traditional banking, without the overhang of a capital m
Read moreBroker snap: Lloyds geared to a UK recovery
17th Feb 2011 10:12
Lloyds Banking Group has the best exposure to recovery of traditional banking, without the overhang of a capital markets franchise, Nomura suggests. The Japanese broker estimates a group loss before non-operating items for 2010 of £959m, much improved on a loss of £12.4bn in 2009. Nomura also forec
Read moreLondon close: Late rally not enough
15th Feb 2011 16:44
Weakness in the US sent shares into the red and a slight rally in late trading failed to lift the FTSE 100 into positive territory. US retail sales were up 0.3% in January, according to the Commerce Department, though they'd risen 0.5% the month before and were expected to do the same this time. Ex
Read moreLondon afternoon: US retail sales setback
15th Feb 2011 14:30
Footsie moved into the red over the lunch time session after the release of disappointing US retail sales figures. US retail sales were up 0.3% in January, according to the Commerce Department, though they'd risen 0.5% the month before and were expected to do the same this time. Excluding autos,
Read moreFTSE 100 movers: Barclays leads risers
15th Feb 2011 13:57
There was a positive reaction to Barclays' results and Lloyds and RBS have risen in sympathy. The bank has cut its staff bonuses by 7% even though profits jumped by a better than expected 32% as bad debt charges tumbled everywhere except Spain. Real estate investment trust British Land grew underl
Read moreLondon midday: FTSE 100 little changed
15th Feb 2011 12:09
Shares are still seeking direction in spite of some notable movements in both directions. Barclays has moved ahead after results. The bank has cut its staff bonuses by 7% even though profits jumped by a better than expected 32% as bad charges tumbled everywhere except Spain. Pre-tax profits in 2010
Read moreLondon open: Footsie marks time
15th Feb 2011 08:57
A limp performance in the US overnight and a tricky session in Asia this morning has resulted in London trading sideways in early dealings. Barclays has cut its staff bonuses by 7% even though profits jumped by a better than expected 32% as bad charges tumbled everywhere except Spain. Pre-tax profi
Read moreBarclays stops providing asset finance to smallest companies
14th Feb 2011 14:19
Barclays says that it will stop providing asset finance to firms with a turnover of less than £5m a year. This comes less than one week after Project Merlin the agreement between the main banks and the government which was supposed to secure additional lending to small businesses. Barclays, HSBC,
Read moreThursday newspaper round-up: Banks, interest rates, stock exchanges
10th Feb 2011 06:05
George Osborne was accused by a senior Liberal Democrat of letting bankers off the hook after the banks bought themselves an easy ride on bonuses by promising to lend more to small businesses. Lord Oakeshott was dismissed as his party's Treasury spokesman in the Lords within hours of castigating a l
Read more