MARKET TALK: Banks Rise After Bank Levy Not As Bad As Feared
22nd Jun 2010 13:43
1243 GMT [Dow Jones] The FTSE 350 banks index comes off lows and Lloyds Banking Group storms higher, as the UK Chancellor brings his budget speech to a close. A trader says the bank levy announced in the budget will raise just GBP2bn a year, not upwards of GBP3B as had been speculated in some public
Read moreEffective Regulation, Not Tax, Key To Reducing Bank Risk-AFME
22nd Jun 2010 13:36
By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The Association for Financial Markets in Europe said Tuesday that while it welcomed more details on the tax that the U.K. government will impose on the banks, effective regulation remains the most important tool to avoid future
Read moreMedia Square Gets New Three-Year, GBP26.6M Banking Facility
21st Jun 2010 07:26
LONDON (Dow Jones)--Marketing communications group Media Square PLC (MSQ.LN) Monday said it has agreed new three-year, GBP26.6 million banking facilities with Bank of Scotland, part of Lloyds Banking Group PLC (LLOY.LN). Chairman Roger Parry said the new facility, which includes long-term debt
Read morePRESS RELEASE: Moody's Assigns Definitive Aaa Ratings To Royal Bank Of Scotland's Mortgage Covered Bonds
18th Jun 2010 12:12
The following is a press release from Moody's Investors Service: EUR1.25 billion of debt securities affected London, 18 June 2010 -- Moody's Investors Service has assigned definitive long-term ratings of Aaa to Series 1 of the mortgage covered bonds issued by The Royal Bank of Scotland plc (RBS
Read moreLondon close: Seventh day of gains for Footsie
17th Jun 2010 16:46
London's blue chips rose for the seventh day running as BP took some comfort from the $20bn deal agreed with US president Obama. Banks also rallied on the new plans for City regulation set out yesterday. This afternoon, the coalition government also axed 12 projects costing £2bn, suspended another
Read more2nd UPDATE: UK Axes GBP80 Mln Sheffield Nuclear Industry Loan
17th Jun 2010 15:38
(Adds details and quotes from business secretary and analyst.) By Selina Williams Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The U.K. government Thursday axed an GBP80 million loan to Sheffield Forgemasters International Ltd. for equipment to make the large forgings for nuclear power sta
Read moreFTSE 100 movers: BP heads higher
17th Jun 2010 14:56
BP and banks are pushing Footsie higher today. Clarity on the issue of BP's dividends and the staggered nature of payments into Escrow has reassured investors. BP has cancelled dividends for the rest of the year and agreed to a demand from US president Obama to put $20bn in an escrow account to c
Read moreUK Bank Investors See Bright Side Of Financial Reform
17th Jun 2010 14:26
By Margot Patrick Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Bank investors and analysts Thursday saw the brighter side of U.K. government plans to radically overhaul banks' supervision and potentially restrict their activities, with major bank shares rising and analysts saying the proposals
Read moreLondon afternoon: Stocks drift off highest levels
17th Jun 2010 14:12
Leading shares saw their gains trimmed over the lunch time session, despite expectations of a firm start on Wall Street. BP and the banks continue to lead the market higher. Under fire oil giant BP remains the top performer after yesterday's meeting between BP officials and the US president. BP h
Read morePRESS RELEASE: S&P Afms Or Raises Ratings On Eight Covered Bond Programs
17th Jun 2010 14:04
The following is a press release from Standard & Poor's: OVERVIEW -- Today's rating actions follow the application of our revised criteria for assessing asset-liability mismatch risk in covered bonds. -- We have affirmed or raised our ratings on eight covered bonds programs and the debt
Read morePRESS RELEASE: S&P Afms Or Raises Ratings On -2-
17th Jun 2010 14:04
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Read moreLondon midday: Spanish bond sale boosts banks
17th Jun 2010 12:05
BP and the banks are leading the market higher, with the latter in demand after concerns over Spain's ability to raise money on the bond markets were eased by the latest Spanish bond auction, which saw a higher level of demand than the March offering. Royal Bank of Scotland, Lloyds Banking and Bar
Read moreBAT Makes Tender Offer For 3.625% 2012 Bonds
17th Jun 2010 11:24
LONDON (Dow Jones)--British American Tobacco PLC (BATS.LN) said Thursday it is making a tender offer for its EUR750 million, 3.625% bonds due 2012. In a regulatory notice, the company said it is making a cash offer via joint dealer-managers BNP Paribas SA, Deutsche Bank AG, HSBC Holdings PLC, JP
Read moreMARKET TALK: Banks Should Feel 'Cautious Relief' On Changes
17th Jun 2010 10:44
0944 GMT [Dow Jones] Exane analyst Ian Gordon says UK banks should feel "cautiously relieved" by the tone and content of Chancellor George Osborne's speech to City executives Wednesday night, which laid out plans to fold the supervisory powers of the FSA into the Bank of England and named John Vicke
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
17th Jun 2010 10:44
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0944 GMT [Dow Jones] Exane analyst Ian Gordon says UK banks should feel "cautiously relieved" by the tone and content of Chan
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