MARKET TALK: All Lloyds Exchange Subscribers Should Get Swapped
15th Jun 2010 08:34
0734 GMT [Dow Jones] All subscribers to Lloyds' recent offer to exchange four of its existing dollar-denominated upper-tier 2 bonds into common shares, should have their bonds fully exchanged, BNP Paribas analysts say. According to the take-up on the offer, 570.8 million new shares would need to be
Read moreFOCUS: UK Banks Tap Covered Bonds, But RMBS Buyers Still Missed
14th Jun 2010 17:18
By Mark Brown Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. lenders are increasingly turning to covered bonds to finance their lending activities, but some market participants caution that the instruments cannot fill the gap left by the collapse of the market for securities backed by resid
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
14th Jun 2010 07:31
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] 0631 GMT [Dow Jones] Morgan Stanley downgrades Lloyds Banking Group (LLOY.LN) to underweight from equalweight, and cuts its t
Read moreMARKET TALK: M Stanley Cuts Lloyds Banking To Underweight
14th Jun 2010 07:31
0631 GMT [Dow Jones] Morgan Stanley downgrades Lloyds Banking Group (LLOY.LN) to underweight from equalweight, and cuts its target price to 50p from 65p. Says Lloyds faces the biggest risk among UK banks of missing consensus beyond FY'10, given pressure on net interest margin, tepid GDP growth and i
Read moreUK Business Secretary In Bid To Split Banks - Report
13th Jun 2010 13:29
LONDON (Dow Jones)--U.K. Business Secretary Vince Cable is keen on separating retail from investment banking despite assurances from the Treasury that the prospect of such a split hasn't been concluded yet, the Sunday Telegraph reported. "The coalition agreement is quite explicit ... The purpose
Read moreLloyds Prefers Selling 600 Branches, Not List A New Bank
13th Jun 2010 13:25
By Vladimir Guevarra Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Lloyds Banking Group PLC (LYG) prefers to sell some 600 branches as part of a divestment plan agreed with the European Commission, and not float a new bank on the stock exchange, a bank spokeswoman said Sunday. "The group h
Read morePRESS RELEASE: Moody's: Uk Prime Rmbs Performance Stable In April 2010
11th Jun 2010 10:54
The following is a press release from Moody's Investors Service: UK Prime RMBS Indices -- April 2010 London, 11 June 2010 -- The performance of the UK prime residential mortgage-backed securities (RMBS) market continued its stable trend lines during April 2010, according to the latest indices pu
Read more4th UPDATE: UK To Probe Investment Banks' Equity-Raising Fees
10th Jun 2010 15:50
(Adds comment from the Association for Financial Markets in Europe.) By Vladimir Guevarra and Digby Larner Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The U.K.'s Office of Fair Trading put investment banks in its sights Thursday, saying it will launch an inquiry into how much they charge
Read more3rd UPDATE: UK To Probe Investment Banks' Equity-Raising Fees
10th Jun 2010 15:34
(Adds comment from the Investment Management Association.) By Vladimir Guevarra and Digby Larner Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The U.K.'s Office of Fair Trading put investment banks in its sights Thursday, saying it will launch an inquiry into how much they charge for equity
Read more2nd UPDATE: OFT Launches Inquiry Into Investment Banks
10th Jun 2010 11:46
(Adds comment from the British Bankers' Association.) By Vladimir Guevarra and Digby Larner Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The U.K.'s Office of Fair Trading took a sideswipe at investment banks Thursday, saying it will launch an inquiry into how much they charge for equity un
Read moreUPDATE: OFT Launches Inquiry Into Investment Banks
10th Jun 2010 11:03
(Adds background, analyst comment.) By Vladimir Guevarra and Digby Larner Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The U.K.'s Office of Fair Trading took a sideswipe at investment banks Thursday, saying it will launch an inquiry into how much they charge for equity underwriting and oth
Read morePRESS RELEASE: Moody's Abcp Rating Actions Ending June 7, 2010
9th Jun 2010 17:32
The following is a press release from Moody's Investors Service: New York, June 09, 2010 -- Moody's ABCP rating actions for the seven-day period ended June 7, 2010 THE RATINGS OF THE FOLLOWING ABCP PROGRAMS WERE AFFIRMED AT PRIME-1 DURING THE PERIOD JUNE 1, 2010 THROUGH JUNE 7, 2010: SYNDIC
Read morePRESS RELEASE: Moody's Abcp Rating Actions Ending -2-
9th Jun 2010 17:32
affiliates (collectively, "MOODY'S"). All rights reserved. CREDIT RATINGS ARE MOODY'S INVESTORS SERVICE, INC.'S ("MIS") CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. MIS DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT ME
Read moreBanks Still Aim To Cut UK Property Loans But See No Sales Soon
9th Jun 2010 16:24
By Anita Likus Of DOW JONES NEWSWIRES LONDON (Dow Jones)--While U.K. banks are still seeking to reduce their commercial property loan books, industry experts aren't holding their breath for waves of property disposals and urged potential buyers to be patient. Speaking at Savills PLC's (
Read moreUPDATE: RBS Plans 3-Yr Euro Covered Bond At Swaps +125 Area
9th Jun 2010 09:31
(Adds background, details, comment) by Mark Brown Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Royal Bank of Scotland Group PLC (RBS) is planning its first ever issue of covered bonds, a syndicate official at the bank said Wednesday. Guidance on the three-year, euro-denominated deal ha
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