Lloyds stops selling PPI
27th Jul 2010 13:08
Consumer groups today claimed a major victory as Lloyds Banking became the first high street bank giant to stop selling payment protection insurance (PPI). State-controlled Lloyds stopped selling new PPI policies last Friday across all of its business including Halifax, Bank of Scotland, Cheltenham
Read moreLondon midday: Shares edge higher
27th Jul 2010 11:56
London's blue chips are still edging higher, with banks leading the way after Swiss peer UBS beat earnings estimates. Barclays, Lloyds and Royal Bank of Scotland are the top risers in the FTSE 100. Net profit at UBS in the second quarter came to 2bn Swiss francs from a loss of 1.4bn francs last tim
Read moreSector movers: UBS numbers buoy banks
27th Jul 2010 11:39
Banks are buoyant after strong second quarter results from Swiss sector giant UBS. UBS swung to a forecast-beating second-quarter net profit. Net profit came to 2bn Swiss francs from a loss of 1.4bn francs last time. That was well above expectations for a 1.26bn francs profit. Revenue jumped 59% to
Read moreMARKET TALK: UK Banks Jump On Basel 3 Watered-Down Rules
27th Jul 2010 10:05
0905 GMT [Dow Jones] UK banks are sharply higher on news that Basel 3 proposals have been watered down, analysts say. Lloyds Banking (LYG) and Barclays (BCS) particularly gaining from new requirements that will see both being able to recognize some minority interest capital as Tier 1 capital. Credi
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
27th Jul 2010 10:05
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0905 GMT [Dow Jones] UK banks are sharply higher on news that Basel 3 proposals have been watered down, analysts say. Llo
Read moreLondon open: Strong start for blue chips
27th Jul 2010 08:49
Footsie is making good gains in early trading, though BP, the big story this morning, has not joined in as yet. The oil giant BP confirmed Tony Hayward is to step down as chief executive of the group on 1 October to be succeeded by fellow executive director Bob Dudley. The group also unveiled a $
Read moreLondon close: US gives Footsie a lift
26th Jul 2010 16:42
Sentiment improved after the US open following a sluggish start, helping Footsie close with modest gains. A bigger than expected rise in US house sales reassured investors over the state of the world economy. Banks Lloyds, Royal Bank of Scotland and Barclays were all strongly ahead after they sail
Read moreLondon afternoon: Pick-up at Penguin boosts Pearson
26th Jul 2010 14:37
Leading shares remain mixed ahead of the deluge of big company announcements later in the week that includes oil giants BP, Shell and BG. Tullow Oil may be smaller than the aforementioned triumvirate but its shares are outperforming all of them and the rest of the Footsie constituents today after i
Read moreFinancial News: The Average Bonus At UKFI Last Year GBP16,500
26th Jul 2010 14:04
By Liam Vaughan Of FINANCIAL NEWS Staff at U.K. Financial Investments, the body managing government stakes in the banking sector, picked up average bonuses of GBP16,500 each last year. This marks the first time the body has paid out bonuses since it was set-up at the end of 2008. Accordi
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
26th Jul 2010 12:32
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1132 GMT [Dow Jones] Credit Suisse raises its Lloyds Banking Group (LLOY.LN) price target to 72p from 68p following the st
Read moreMARKET TALK: Credit Suisse Nudges Up Lloyds Target
26th Jul 2010 12:32
1132 GMT [Dow Jones] Credit Suisse raises its Lloyds Banking Group (LLOY.LN) price target to 72p from 68p following the stress test results. UK banks screened well on the CEBS test says CS. "Stress-tested Tier I ratios, sovereign bond disclosures and adverse impairment forecasts support our upbeat v
Read moreLondon midday: Updates fail to move Footsie
26th Jul 2010 12:13
Footsie is still seeking direction despite a stream of company news updates that have moved share prices Banks Lloyds, Royal Bank of Scotland and Barclays are all strongly ahead after they sailed through the tests last week. BP is ahead after the oil giant confirmed it will t will hold a board me
Read moreAT A GLANCE: A Roundup Of Analyst Opinion On EU Stress Tests
26th Jul 2010 11:44
THE EVENT: The European Union's Committee of European Banking Supervisors, or CEBS, on Friday released results showing E.U. banks largely passed a round of government stress tests, with just a few institutions found to need further capital as a buffer against further economic and sovereign risks.
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
26th Jul 2010 09:56
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0856 GMT [Dow Jones] Lloyds Banking (LYG) and Royal Bank of Scotland (RBS) could be biggest gainers among U.K. banks from
Read moreMARKET TALK: RBS, Lloyds May Be Biggest Stress-Test Gainers
26th Jul 2010 09:56
0856 GMT [Dow Jones] Lloyds Banking (LYG) and Royal Bank of Scotland (RBS) could be biggest gainers among U.K. banks from stress test results, which could provide a lift to debt markets, says Exane BNP Paribas. "The bigger issue for U.K. banks is the extent [if any] to which the CEBS stress test exe
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