Lloyds Exchanges Yen Bond For 405M Shares; To Book Gain
29th Jun 2010 10:46
LONDON (Dow Jones)--Lloyds Banking Group PLC (LYG) Tuesday said it is exchanging a yen-denominated bond for 405.4 million shares, in its latest effort to book gains by buying back debt for less than face value. Lloyds Monday said it was exchanging a set of dollar-denominated bonds for shares, re
Read more2nd UPDATE: Aflac Sells Greek Debt After Stock Decline
28th Jun 2010 22:18
(Updates with details about possible issuers, analyst comments) By Erik Holm Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Aflac Inc. (AFL) unloaded its holdings of Greek debt after the insurer's stock fell more than 20% on concern about European securities in its investment portfolio.
Read moreLondon close: Miners lift Footsie
28th Jun 2010 16:24
London's top stocks ended Monday's trading session with modest gains thanks to strong mining stocks. Footsie traded in and out of the blue during the day, largely mirroring the performance of BP's share price. The massive clean-up operation in the Gulf of Mexico continues and has now cost BP $2.65
Read moreConsortium Closes In On HSBC Train Unit - Sources
28th Jun 2010 15:51
By Jessica Hodgson, Carol Dean and Marietta Cauchi Of DOW JONES NEWSWIRES LONDON (Dow Jones)--A consortium consisting of Morgan Stanley's (MS) infrastructure fund, 3i Group's infrastructure fund (3IN.LN) and private equity fund Star Capital is the sole consortium conducting due diligence for
Read moreLondon afternoon: Miners prop up Footsie
28th Jun 2010 14:16
The Footsie has been in retreat since shortly after ten this morning and dipped back into the red over the lunchtime session before limping back into positive territory, helped by the strength of mining stocks. The Footsie's performance largely mirrors that of the share price of oil giant BP, which
Read moreUPDATE:Lloyds Banking Group Swaps $760M Bonds For 537M Shares
28th Jun 2010 13:25
(Adds Lloyds comment, details.) By Margot Patrick Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Lloyds Banking Group PLC (LYG) Monday said bondholders have agreed to exchange $760 million in upper Tier 2 bonds for 537.2 million new shares, as part of the bank's effort to cut its debt costs.
Read moreGeneral Dynamics Buys Defense Company From Lloyds' Buyout Arm
28th Jun 2010 12:38
By Marietta Cauchi Of DOW JONES NEWSWIRES LONDON (Dow Jones)--LDC Monday said it has sold defense equipment company Kylmar to General Dynamics United Kingdom Limited, part of U.S. giant General Dynamics Corp. (GD). Financial details of the transaction weren't disclosed. LDC, the mid
Read moreBroker tips: Lloyds, RBS, Hyder, Taylor Wimpey...
28th Jun 2010 12:23
UK banks are turning the corner, according to Nomura Securities, which has named Lloyds Banking as its preferred stock in the sector. "UK banks are benefiting from a combination of declining impairments, rising margins and strengthened capital bases," reasons Nomura analyst Robert Law, adding that
Read moreLondon midday: Oils lift indices
28th Jun 2010 12:14
Markets are higher after some better news from BP in the Gulf of Mexico and on reflection of the outcome of the latest G20 summit. The massive clean-up operation in the Gulf of Mexico continues and has now cost BP $2.65bn (£1.75bn). The oil giant is stopping almost 23,000 barrels of oil from leakin
Read moreLloyds Banking Group Swaps $760 Mln Bonds For 537 Mln Shares
28th Jun 2010 10:34
LONDON (Dow Jones)--Lloyds Banking Group PLC (LYG) Monday said bondholders have agreed to exchange $760 million in upper Tier 2 bonds for 537.2 million new shares, as part of the bank's effort to cut its debt costs. Analysts estimate the bond exchanges, which were made at a discount to face valu
Read moreBroker snap: Lloyds is Nomura's preferred UK bank
28th Jun 2010 08:29
UK banks are turning the corner, according to Nomura Securities, which has named Lloyds Banking as its preferred stock in the sector. "UK banks are benefiting from a combination of declining impairments, rising margins and strengthened capital bases," reasons Nomura analyst Robert Law, adding that
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
28th Jun 2010 08:12
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] 0712 GMT [Dow Jones] Nomura upgrades Lloyds Banking Group (LLOY.LN) to buy from reduce and lifts the target to 80p from
Read moreMARKET TALK: Nomura Ups Lloyds; Cuts Barclays, HSBC
28th Jun 2010 08:12
0712 GMT [Dow Jones] Nomura upgrades Lloyds Banking Group (LLOY.LN) to buy from reduce and lifts the target to 80p from 53p. Says Lloyds is particularly geared to domestic margin expansion owing to the repricing of mortgage asset yields and short-term wholesale funding. Cuts Barclays (BARC.LN) to
Read moreLondon close: Resource stocks drag Footsie lower
25th Jun 2010 16:42
Weakness in the resources sector ensured that Footsie finished firmly in the red. ENRC, Lonmin and Kazkhmys were big losers in the mining sector as base metal prices retreat. BP resumed its slide following a couple days' respite. Nomura Securities has suggested that the oil giant may have to ra
Read moreLondon afternoon: Stuck in reverse
25th Jun 2010 14:14
BP trimmed its losses over the lunch time session but the Footsie ended the period more or less where it started it, as weak mining stocks continue to weigh on the index. ENRC, Lonmin and Kazkhmys remain the big losers in the mining sector as base metal prices retreat. BP is still under the cosh
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