London open: Footsie at 30-month high
21st Dec 2010 08:53
London has hit a new 30-month high on a partial recovery on Wall Street overnight and strong performance in Asia this morning. Banks are leading the way, with good gains for Barclays, RBS and Lloyds this morning. Reports, since played down, that Business secretary Vince Cable could walk away from t
Read moreBanks paid too little for toxic insurance
21st Dec 2010 08:17
Britain's bailed-out banks paid too little to get their toxic loans underwritten by the taxpayer, the National Audit Office has concluded, and could have afforded to pay another £4bn. Lloyds paid £2.5bn to pull out of the asset protection scheme (APS) in October last year after placing £260bn of it
Read moreLondon close: FTSE 100 shrugs off weather woes
20th Dec 2010 16:44
Shares held onto gains to close in positive territory despite the bad weather hitting travel and retail stocks. Snow-affected stocks such as British Airways and many of the major retailers fell. Arctic conditions are hurting retailers at their busiest and most crucial time of the year. Next, Marks
Read moreLondon afternoon: Shares stay buoyant despite weather hit
20th Dec 2010 15:25
Footsie is still hovering around 5,900 points following a mixed start on Wall Street. Snow-affected stocks such as British Airways and many of the major retailers have trimmed losses. Arctic conditions are hurting retailers at their busiest and most crucial time of the year. Next, Marks & Spencer,
Read moreLondon midday: Footsie tops 5,900
20th Dec 2010 12:00
Things turned around dramatically in the hour before lunch as the session came alive after a rather dull start, nudging a 2½-year high by midday. Defensive issues are still going well. National Grid, Scottish & Southern Energy and British Gas owner Centrica are expected to benefit from the cold sn
Read moreOsborne has to wait for bank bonus face-off
20th Dec 2010 08:53
The chancellor and business secretary's showdown with the banks has been postponed because of the weather. George Osborne, stranded in New York, and Vince Cable, had been due to threaten Britain's five largest banks with further taxation and regulation unless they water down this year's bonus round
Read moreMonday newspaper round-up: Bank bonuses, snow, BSkyB
20th Dec 2010 06:30
George Osborne and Vince Cable will today pile pressure on senior bankers by threatening tax rises and further regulations if they go ahead with another bumper round of bonuses. The Chancellor and the Business Secretary are meeting the chief executives of the five largest banks ? the Royal Bank of S
Read moreSunday newspaper round-up: Big freeze, Anglo American, 888...
19th Dec 2010 10:51
The big freeze shattered some retailers' hopes of a 'Super Saturday' as treacherous conditions kept shoppers away in some parts of the country. The Trafford Centre in Manchester reported high numbers of customers but Bluewater in Kent said numbers were down compared with last year. Brent Cross sho
Read moreLondon close: Banks hold back Footsie
17th Dec 2010 17:03
Shares failed to haul themselves into the blue on a busy day's trading, as worries over the Irish economy spooked banking stocks. Ratings agency Moody's has slashed its credit rating on Ireland by five notches to Baa1 from Aa2 citing concerns over banking liabilities and economic prospects. Lloyd
Read moreLloyds warns on Irish exposure
17th Dec 2010 15:06
Continuing difficulties in the Irish economy will result in further loan impairments at Lloyds by the year end, the part-nationalised UK lender has admitted. It said that it anticipates that compared to the mid-year point, about another 10% of its £26.7bn Irish portfolio will become impaired by the
Read moreLondon afternoon: Downbeat banks hold back Footsie
17th Dec 2010 15:05
Shares remain uncertain as the weekend approaches, with banks holding the leading share index back amid continuing eurozone worries. Ratings agency Moody's has slashed its credit rating on Ireland by five notches to Baa1 from Aa2 citing concerns over banking liabilities and economic prospects. Me
Read moreSector Movers: Astra drags down pharma sector
17th Dec 2010 14:57
The pharmaceuticals and biotechnology sector is the weakest sector Friday afternoon with AstraZeneca among the biggest fallers. AstraZeneca has tumbled after it suffered another delay in getting US approval for its potential blockbuster blood-thinning drug Brilinta after the US Food and Drug Admini
Read moreFTSE 100 movers: AstraZeneca disappointment
17th Dec 2010 12:58
AstraZeneca is the worst performer in the Footsie because the FDA has asked for more information about blood-thinning drug Brilinta. This represents a further delay is getting US approval for Brilinta. Gloomy comments by the Bank of England about potential bad debt provisions hit Royal Bank of Sco
Read moreLondon midday: Stocks retreat
17th Dec 2010 12:49
The leading index broke above 5,900 for a short time, but now finds itself stuck in the red as AstraZeneca and the banks offset gains in the property sector. The Bank of England has warned of more bad debt provisions for the banks and also expressed serious concerns for the bond markets if yields c
Read moreLondon open: Flat start for blue chips
17th Dec 2010 08:43
London has started slowly despite the late gains on Wall Street overnight with some gloomy comments from the Bank of England unsettling the mood. The Bank warned of more bad debt provisions for the banks and also expressed serious concerns for the bond markets if yields continued to rise. Lloyds an
Read more