London close: Lead slashed as miners fail
27th Jul 2010 16:37
A big chunk of the morning's hard-fought gains went up in smoke late in the session as an early rally on Wall Street quickly turned into nothing. Miners were the main culprits. All the big guns gave back big leads mid-afternoon following stronger-than-expected US home-price data that helped the dol
Read moreFTSE 100 movers: Banks higher on European results
27th Jul 2010 16:28
Banks are leading the market higher after good results from their European counterpart UBS. Barclays, Lloyds and Royal Bank of Scotland are the top three risers in the FTSE 100. Net profit at UBS in the second quarter came to 2bn Swiss francs from a loss of 1.4bn Swiss francs last time. That was
Read moreLondon afternoon: Basel boost for banks
27th Jul 2010 14:32
Banking stocks have wrenched attention away from BP this morning, with the major UK banks lifted by strong figures from European peers Deutsche Bank and UBS and also by rumours that banking regulator the Basel Committee is set to lower its minimum capital and liquidity requirements. Barclays, Lloy
Read moreLloyds sells Ecuadorian branches
27th Jul 2010 14:23
Lloyds Banking is selling its Ecuadorian branch assets and liabilities to Banco Pichincha for up to $25m in cash. The impact of the sale on its accounts will not be material, the group said. The Ecuadorian business is primarily a corporate relationship bank operating through two branches and emp
Read moreLloyds Banking Sells Ecuadorian Branch, Assets, Liabilities For $25M
27th Jul 2010 14:12
LONDON (Dow Jones)--Lloyds Banking Group PLC (LLOY.LN), said Tuesday that it is selling its Ecuadorian branch assets and liabilities to Banco Pichincha for a cash consideration of up to $25 million, adding that the impact of the sale on the group's accounts will not be material. MAIN FACTS:
Read moreLloyds 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 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 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 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 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
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