Monday newspaper round-up: Royal Bank of Scotland, China, Prudential
8th Mar 2010 06:39
Santander has moved into pole position to take over the 320 branches in England being sold by Royal Bank of Scotland. A large corporate buyer with existing UK interests such as the Spanish bank would frustrate attempts to inject fresh competition into British banking. The sale memorandum went out l
Read moreSunday newspaper round-up: Spending cuts, British Airways, House prices
7th Mar 2010 10:21
Alistair Darling will refuse to bow to calls for more aggressive spending cuts in his budget this month and will stick to fiscal plans set out last year. The chancellor's intransigence could put further pressure on the pound. Nervousness over a hung parliament and Britain's ailing public finances d
Read moreNew Lloyds non-exec David Roberts spends £200,000
3rd Mar 2010 15:27
David Roberts, recently appointed as a non-executive director at the bank, has wasted no time in signalling his faith in his new employers, buying nearly £200,000 of shares. Roberts bought 378,670 shares at 52.55p a time. Roberts' appointment was announced on 11 February, following an interview wi
Read moreWednesday tips round-up: Meggit, JLT, RBS
3rd Mar 2010 06:41
With every one cent decline in the pound against the US dollar adding £400,000 to defence group Meggitt's prospective pre-tax profits, currency moves alone have been enough to send current-year forecasts higher. Even so, profit progress in 2010 driven more by Meggitt's target of £50m of annualised
Read moreLondon afternoon: Footsie consolidates gains
2nd Mar 2010 14:13
Leading shares consolidated gains over the lunchtime session though it remains a bad day to be invested in the insurance sector. Insurer Prudential is under the cosh again as investors bale out ahead of an expected monster cash call to finance the group's acquisition of AIG's Asian assets. RSA In
Read moreLondon midday: Banks bounce back
2nd Mar 2010 12:08
Although base metal miners have reversed course and are now heading south the FTSE 100 index has added to early gains, helped by a surge in interest in banking shares. Ahead of results tomorrow Standard Chartered is leading the banking sector higher. Part-nationalised lenders Royal Bank of Scotland
Read moreLondon close: Strong finish for FTSE 100
1st Mar 2010 16:30
The leading share index finished on a strong footing as strength in the mining sector and gains on the back of company updates helped offset a weak performance from financial stocks. Miners were in demand following a rise in copper prices following the earthquake in Chile, the world's number one p
Read moreLondon afternoon: Copper-bottomed advance
1st Mar 2010 14:15
Gains on mining stocks are more than offsetting losses in an insurance sector that has been rocked by the prospect of a huge rights call from Prudential. Confirmation that Pru may pay $35bn (£23bn) for the Asian business of troubled US insurer AIG has unsettled the insurers. Any deal would need to
Read moreBroker tips: Lloyds Banking, Aviva, Michael Page
1st Mar 2010 13:18
Nomura Securities remains negative on Lloyds Banking despite regarding the recent results from the lender as 'incrementally positive'. The broker thinks the short-term negative reaction to the results could yet flip-flop, but longer term it remains 'negative towards Lloyds owing to asset quality, f
Read moreBroker snap: Sell Lloyds into strength
1st Mar 2010 12:04
Nomura Securities remains negative on Lloyds Banking despite regarding the recent results from the lender as 'incrementally positive'. The broker thinks the short-term negative reaction to the results could yet flip-flop, but longer term it remains 'negative towards Lloyds owing to asset quality, f
Read moreHSBC boss to give bonus to charity
28th Feb 2010 12:01
HSBC chief executive Michael Geoghegan will break ranks with his rivals at other UK banks and accept a £4m bonus for last year, but immediately hand it onto charity. HSBC has received no state support during the banking crisis and feels it should be allowed to make its own decisions on remuneration
Read moreSunday tips round-up: RBS, Lloyds, SSL
28th Feb 2010 11:55
For income investors, Royal Bank of Scotland's inability to pay dividends due to EU state aid rules makes it far from attractive, but for those prepared to take a long-term view and hitch a ride alongside the UK government, then the stock could make an interesting addition. Buy says the Telegraph.
Read moreLondon close: Blue chips surge forward
26th Feb 2010 16:52
Footsie surged forward and closed in buoyant mood as buyers returned across a number of sectors despite disappointment with Lloyds Banking's results. Serco remains the best performer among Footsie stocks. The outsourcing group increased the dividend by a quarter as it ramped up profits by almost a
Read moreLondon afternoon: Stocks belcamed at higher levels
26th Feb 2010 14:23
Leading shares traded sideways over the lunchtime session, lacking any sort of lead from Wall Street, which is expected to open mixed as traders struggle through the snow storm engulfing New York to get into work. Serco remains the best performer among Footsie stocks. The outsourcing group increase
Read moreLondon midday:Stocks off the top
26th Feb 2010 12:22
Hopes that Footsie would claw back all of yesterday's losses look less likely to be realised after share prices came off the top late in the morning, though most stocks are still trading in positive territory. Serco remains the best performer among Footsie stocks. The outsourcing group increased t
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