EU to stress test 91 banks
8th Jul 2010 10:05
All four of the UK's big banks are on a list to be 'stress-tested' by the European Union to measure their ability to withstand another major financial shock in future. HSBC, Royal Bank of Scotland, Lloyds and Barclays are among 91 banks selected by the EU to face scrutiny, a much greater number tha
Read moreEuropean Banks Higher After CEBS Details Stress Tests
8th Jul 2010 09:12
By Maarten van Tartwijk Of DOW JONES NEWSWIRES AMSTERDAM (Dow Jones)--European banking shares opened higher Thursday after Europe's banking regulator gave the first details of stress tests that will examine how the sector would stand up to a renewed financial crisis. The tests will look
Read moreMARKET TALK: UK Banks Up On Stress-Test Assurance, US Bank News
8th Jul 2010 08:58
0758 GMT [Dow Jones] Expectations that a stress test on U.K. banks will show positive results, added to good banking earnings news from the U.S., are lifting banks, analysts say. "The (test) results may turn market sentiment around by increasing the visibility for the EU banking sector, where uncert
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
8th Jul 2010 08:58
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] 0758 GMT [Dow Jones] Expectations that a stress test on U.K. banks will show positive results, added to good banking earni
Read moreLondon open: Banks and miners lead advance
8th Jul 2010 08:17
London's top stocks got off to a flying start, up around 1% in early dealings, with banks and miners leading the way. Royal Bank of Scotland and Barclays have both added more than 4%, closely followed by Lloyds Banking, up just under 4%. Among the miners, Antofagasta, Xstrata and Kazakhmys are in d
Read moreMARKET 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
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