Banks commission small business credit research
6th Sep 2010 17:01
The biggest British banks have commissioned a report that will profile the creditworthiness of their small business customers. The banks hope the report will head off criticism of their lack of lending. The banks argue that they are only turning away the risky proposals but small business organisa
Read moreFTSE 100 movers: TUI continues downward journey
11th Aug 2010 15:39
There are few risers in the Footsie as TUI Travel continues to head the fallers. Package holiday firm Thomas Cook followed up yesterday's disappointing trading statement by TUI with one of its own. Thomas Cook warned that full-year profits will be at the low end of forecasts due to softer UK booki
Read moreBroker tips: Aviva, Lloyds Banking, ITV
9th Aug 2010 12:49
Panmure Gordon is upgrading its earnings forecasts for Aviva after much better than expected interim results from the insurance giant last week. "On a market consistent embedded value (MCEV) operating profit basis we have increased 2010 forecast to £3,886m (+12%) from £3312m (-5%) driven by improve
Read moreBroker snap: Lloyds making progress
9th Aug 2010 10:56
Last week's results from Lloyds Banking Group showed the part-nationalised lender is making progress on all key issues, Nomura Securities believes. "Impairments and the margin/revenue improved more quickly, which should lead to upgrades. The capital and funding positions also improved," Nomura anal
Read moreMonday newspaper round-up: Lloyds, BP, Barley
9th Aug 2010 06:40
The Bank of England has warned Lloyds and Royal Bank of Scotland that they could face penalties from Brussels if there was an extension of the special funding scheme put in place during the financial crisis. The Bank believes that such an extension could break European Union state aid rules, becaus
Read moreLondon close: Rally falls short
4th Aug 2010 16:50
The FTSE 100 briefly made it into positive territory in the afternoon session but that only lured out more sellers and the blue-chip index closed slightly down on the day. Shares in Next remained in the doghouse all day, not so much because of the performance in the first half of its financial yea
Read moreLondon midday: Stocks start to recover
4th Aug 2010 12:08
Leading share prices have come off the bottom but the FTSE 100 remains in arrears, following mixed news on the corporate front. Shares in Next are sharply lower. The fashion retailer has noticed a 'cooling' in consumers' demand in recent months, but still expects profits this year to rise by betwee
Read moreEuropean midday: Banks largely lower
4th Aug 2010 12:02
Europe's main markets remain in the red in midday dealings as investors consider a mixed bag of results in the banking sector. Quarterly profits at Societe Generale beat analyst forecasts, climbing more than threefold, helped by a good performance of its French retail business. The Paris-based ban
Read moreEuropean open: Banking figures in focus
4th Aug 2010 09:06
European shares slipped early on Wednesday after a number of the region's biggest banks updated the market on their recent performance. Quarterly profits at Societe Generale beat analyst forecasts, climbing more than threefold, helped by a good performance of its French retail business. The Paris
Read moreLondon open: Blue chips lower on mixed results
4th Aug 2010 08:40
London has made a quiet start after a decline on Wall Street overnight and mixed trading statements this morning. Lloyds is very much back in the black after posting a profit of £1.6bn for the first half of 2010, twice as much as some analysts had forecast. The bank, which lost almost £4bn this tim
Read moreLondon pre-open: Stocks to pull back
4th Aug 2010 07:30
Early losses look likely in London this morning as investors react to a decline on Wall Street overnight. Futures prices currently indicate a 22-point decline for the FTSE 100 when trading starts shortly. Lloyds is very much back in the black after posting a profit of £1.6bn for the first half of
Read moreLloyds returns to profit in style
4th Aug 2010 07:04
Lloyds is very much back in the black after posting a profit of £1.6bn for the first half of 2010, twice as much as some analysts had forecast. The bank, which lost almost £4bn this time last year and is still 41%-owned by the government, added that total impairments more than halved to £6.5bn from
Read moreWednesday newspaper round-up: Interest rates, Egg, BP
4th Aug 2010 06:34
Interest rates may have to rise far more sharply than households and markets expect as the Bank of England moves to head off inflation risks, the former deputy governor said yesterday, the Times reports. Sir John Gieve told a City of London audience that solid economic growth could prompt the Bank
Read moreWednesday preview: Lloyds Banking, Legal & General, Next
3rd Aug 2010 15:26
The UK government is showing a paper profit on its 41% stake in high street banking giant Lloyds and should have further cause for celebration when the bank unveils profits for the first half of the year on Wednesday. Expectations are for Lloyds to declare pre-tax profits in excess of £800m, a shar
Read moreLondon afternoon: Fire sale at BP continues
3rd Aug 2010 14:14
After yesterday's dramatic rise London is taking a pause for breath today and either digesting the steady stream of big company results already out this week or preparing for results from the giants of the insurance and banking sectors later this week. Insurance colossus Aviva , scheduled to releas
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