MARKET TALK: Credit Suisse Lifts European Banks Weighting
8th Jul 2010 07:53
0653 GMT [Dow Jones] Credit Suisse increases its weighting of European banks to benchmark from 10% underweight, and stays benchmark of US banks. Upgrades European banks as macro factors are now less of a headwind. Also cites valuation, as "European Banks are trading some 20% below the historical nor
Read moreLondon close: Back above 5,000
7th Jul 2010 16:21
Britain's banks staged an impressive turnaround Wednesday that helped carry London out of the red and onto a second day of very respectable gains. High street lenders were unsettled early on as investors waited for details on the nature of European stress tests for about 100 banks. Last-minute hagg
Read moreLondon afternoon: Banks help retrace losses
7th Jul 2010 14:26
London's leading shares have retraced most of the earlier losses as Wall Street starts with some modest gains. Wall Street was expected to begin jittery but moved ahead with tech stocks leading the advance. Banks, which were lower earlier in the day, have now retraced those losses. Lloyds and HSB
Read moreLondon midday: Market struggles despite BP rally
7th Jul 2010 12:07
A cautious update from Marks & Spencer and weak banking shares are weighing on the market despite good showings from BP and Sainsbury's. M&S reported a 3.6% rise in UK like-for-like sales in the first quarter, but is cautious about the outlook for consumer confidence and spending. Like for like sal
Read moreAlkane Energy Signs 3-Year GBP5.5M Loan Pact With Lloyds
7th Jul 2010 07:43
LONDON (Dow Jones)--Alkane Energy Plc (ALK.LN), owner and operator of "Gas to Power" plants in the U.K., announced Wednesday an additional three year GBP5.5 million Revolving Credit Facility with Lloyds TSB Bank PLC (LLOY.LN) to fund the development of its new sites. MAIN FACTS: -The three y
Read morePRESS RELEASE: S&P Raises 10 Rtgs In Arran Corporate Loans No. 1 European CDO
6th Jul 2010 15:50
The following is a press release from Standard & Poor's: OVERVIEW -- These rating actions reflect the recent amortization of a number of assets in the portfolio. -- We have raised our ratings on 10 classes and affirmed our ratings on all other classes. -- Arran Corporate Loans No. 1
Read moreBridgepoint's Care UK Eyes Bond Market To Refinance LBO Debt
6th Jul 2010 14:50
By Carol Dean and Michael Wilson Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Care U.K. is considering taking the high-yield bond route to refinance part of the GBP210 million of senior debt that backed Bridgepoint's buyout of the healthcare company in March this year, said people familiar wit
Read moreMARKET TALK: ABB, Credit Suisse Among Top Execution Nobel Picks
6th Jul 2010 11:18
1018 GMT [Dow Jones] Execution Nobel's top European picks going into the third quarter are ABB (ABB), Aviva (AV.LN), Cable & Wireless (CWC.LN), Centrica (CNA.LN), Credit Suisse (CS), Finmeccanica (FNC.MI), H&M (HM-B.SK), Lloyds (LYG), Mitchell & Butlers (MAB.LN), Prysmian (PRY.MI), Reed Elsevier (EN
Read moreMARKET TALK: Exane Upgrades Royal Bank of Scotland To Neutral
6th Jul 2010 10:15
0915 GMT [Dow Jones] Exane BNP Paribas upgrades Royal Bank of Scotland (RBS.LN) to neutral from underperform. The share price has now corrected and Exane BNP sees signs of incremental stability and progress. Further sustained underperformance is less likely and the risk/reward now looks balanced, sa
Read moreInsurer Hiscox Gets $750M 3-Year Syndicated Bank Facility
6th Jul 2010 09:46
LONDON (Dow Jones)--International specialist insurer Hiscox Ltd. (HSX.LN) Tuesday said it has agreed a $750 million syndicated three-year revolving credit and letter of credit facility. Chief Financial Officer Stuart Bridges said the "competitive" facility will support the insurer's business dev
Read moreTuesday tips round-up: Kesa, Serco, Lloyds Banking
6th Jul 2010 06:39
The City's bearishness on Kesa shares partly reflects concerns over the tough trading environment that Comet faces in the UK. Furthermore, the City's UK-centric view glosses over the fact that Darty continues to deliver the bulk of the group's operating profit. Therefore, along with an improved per
Read moreLondon close: Footsie drops slightly
5th Jul 2010 16:33
London's main markets closed slightly lower after trading within a tight range all day. BP was the strongest blue chip all day on reports that the governments of Kuwait, China and Singapore could inject funds under a £6bn plan designed to shore up the oil group's finances in the wake of the Gulf di
Read moreFTSE 100 movers: Cash injection rumour boosts BP
5th Jul 2010 15:21
BP is strong on reports that the governments of Kuwait, China and Singapore could inject funds under a £6bn plan designed to shore up the oil group's finances in the wake of the Gulf of Mexico disaster. The cost of the clean-up exceeds $3bn. Educational publisher Pearson has benefited from Royal Ba
Read moreLondon afternoon: London continues drifting
5th Jul 2010 14:21
London shares are stuck in neutral, with the Footsie barely changed on the day. BP is the strongest blue chip on reports that the governments of Kuwait, China and Singapore could inject funds under a £6bn plan designed to shore up the oil group's finances in the wake of the Gulf disaster. The cost
Read more2nd UPDATE: Lloyds Banking Sells Private Equity Portfolio
5th Jul 2010 13:03
(Adds detail, analyst comment.) By Margot Patrick Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Lloyds Banking Group PLC (LYG) Monday said it will receive GBP332 million by selling a portfolio of private equity investments to a new joint venture in which it will hold a minority stake, as pa
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