London midday: Stormy weather for BP
25th Jun 2010 12:01
Mining stocks and BP have combined to spoil what was a firm start by London's blue-chip stocks, with even the weather now appearing to have it in for the beleaguered UK oil giant. Mining stocks such as ENRC, Lonmin and Kazkhmys suffer chunky falls but these are dwarfed by BP shares, which are havin
Read moreMARKET TALK: Basel Adjustments Particularly Good For UK Banks
25th Jun 2010 10:51
0951 GMT [Dow Jones] Reports of adjustments to Basel III proposals would be particularly positive for UK banks, says Deutsche Bank. Notes reports that the Bank for International Settlements could be dropping its proposals for the net stable funding ratio at the G20 meeting, and that pension deficit
Read moreMARKET TALK: UK Bank Stocks Rise; Basel III In Focus
25th Jun 2010 09:16
0816 GMT [Dow Jones] Bank stocks lead the gains in London as speculation rises that the Basel Committee will present a modified version of Basel III at the G20 meeting, this weekend. Traders note reports that the document is likely to present watered down proposals. Commenting on the speculation, E
Read moreWater Hall Group To Sell Lloyds Banking Shares >WTH.LN
24th Jun 2010 12:12
LONDON (Dow Jones)--Water Hall Group PLC (WTH.LN), a holding company, said Thursday that its residual investment of 0.8 million shares in Lloyds Banking Group PLC (LLOY.LN) is regarded as non-core and it will therefore be sold at an opportune time. MAIN FACTS: -The U.K. planning system, esp
Read moreADR Report: Shares Close Mostly Flat On Cautious Outlook
23rd Jun 2010 22:11
By Victoria Finkle Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--International companies trading in New York ended close to flat Wednesday, following a fitful session during which the U.S. Federal Reserve kept interest rates low and took a cautious stance on the economic outlook. The Bank
Read moreFinancial News: How Budget Tax Measures Will Affect The Banks
23rd Jun 2010 14:37
By Dominic Elliott Of FINANCIAL NEWS Measures announced as part of the U.K.'s emergency Budget will provide a fillip to Lloyds Banking Group's (LYG) business by the year 2012 and will hit earnings at the country's other four large universal banks by "just" GBP56 million on average--or less t
Read moreFTSE 100 movers: Banks move higher
23rd Jun 2010 14:13
The banks are rising again today even though they were hit by a new tax yesterday. Royal Bank of Scotland and Lloyds are both higher. BP is also heading higher now that Bob Dudley is taking control of the day-to-day handling of the Gulf of Mexico oil leak crisis from chief executive Tony Hayward.
Read moreMARKET TALK: Levy Impact On UK Banks Minimal - Matrix
23rd Jun 2010 13:23
1223 GMT [Dow Jones] The impact of the proposed bank levy on UK banks is likely to be minimal and much more benign than the worst-case scenario some market participants may have been expecting, says Matrix Group. In particular, reckons concerns about Lloyds Banking Group (LLOY.LN) being significantl
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
23rd Jun 2010 13:23
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] 1223 GMT [Dow Jones] The impact of the proposed bank levy on UK banks is likely to be minimal and much more benign than th
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
23rd Jun 2010 07:21
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] 0621 GMT [Dow Jones] The levy on banks imposed by the UK Chancellor is not as bad as expected and there is the further relie
Read moreMARKET TALK: Lloyds Banking Seen Benefiting From Budget
23rd Jun 2010 07:21
0621 GMT [Dow Jones] The levy on banks imposed by the UK Chancellor is not as bad as expected and there is the further relief in the form of an unexpected cut in the corporate tax rate, says Citigroup. Lloyds Banking Group (LLOY.LN) is the clear winner in the budget. It estimates the net effects on
Read moreHEARD ON THE STREET: UK Levy Not Too Taxing For Banks
22nd Jun 2010 19:13
By Simon Nixon A DOW JONES COLUMN Following an election in which bank-bashing figured prominently, the U.K. banking sector can count itself lucky with the coalition government's emergency budget. Although Chancellor George Osborne is pushing ahead unilaterally with a bank levy, it is only ex
Read moreUK Banks Hit With New Tax, But Escape Harsher Measures
22nd Jun 2010 17:29
By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. banks escaped new taxes on profits and remuneration, but a widely expected levy on their balance sheets that could provide an extra GBP2 billion a year to the government raised warnings from the sector, which said the U.K.
Read moreFTSE 100 movers: Lloyds heads risers
22nd Jun 2010 16:54
Lloyds Banking is heading the risers on the Footsie despite the bank levy, which will be introduced alongside similar taxes in France and Germany. There was a positive reaction to Costa Coffee owner Whitbread's trading update. Premier Inn and Costa Coffee were the star performers for the hotel and
Read moreMARKET TALK: UK Bank Levy Better Than Feared - Oriel
22nd Jun 2010 16:15
1515 GMT [Dow Jones] The newly-announced U.K. bank levy to raise roughly GBP2B is better than feared, says Oriel Securities analyst Mike Trippitt. Oriel sees Barclays (BCS) having a relatively large exposure because of its big balance sheet, with Standard Chartered (STAN.LN) and HSBC Holdings (HBC)
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