London close: Carnival provides lift
24th Feb 2010 16:55
Footsie closed slightly higher, with Carnival giving London's blue chips a lift after announcing that it is going to increase the price of its cruises. Carnival was leading the FTSE 100 higher after the cruise operator said it will be lifting ticket prices following strong reservations activity for
Read moreLondon afternoon: Stocks steady at higher levels
24th Feb 2010 14:12
London has moved into consolidation mode in the afternoon session, ahead of a moderately firmer opening on Wall Street. HSBC remains the top performer as reports circulate that the company is preparing to sell its train leasing business for around £2bn. Sentiment towards the bank is also sweetened
Read moreLondon midday: HSBC rolls higher on train sale rumours
24th Feb 2010 12:04
Banks are leading the market's advance today, more than offsetting weakness among miners. HSBC was the morning's top performer as reports circulate that the company is preparing to sell its train leasing business for around £2bn. Sentiment towards the bank is also sweetened by reports that the boar
Read moreNorthern Rock loses 100% savings guarantee
24th Feb 2010 10:17
Northern Rock has confirmed that it will lose the government's guarantee that protects 100% of customers' savings on their deposits in three months' time. The Newcastle-based lender said removal of the guarantee, which was broadly anticipated, will take place on 24 May. Savers will continue to be
Read moreSector movers: Banks move higher
24th Feb 2010 10:14
Investors are bracing for results from banks RBS and Lloyds tomorrow and the following day respectively. Both stocks are higher, but the gains are modest. HSBC leads the sector higher amid reports the bank is expected to announce that its chief executive Michael Geoghegan not receive his 40% pay r
Read moreHSBC to scrap pay rise for CEO
24th Feb 2010 09:30
HSBC, Britain's biggest bank, is expected to scrap a pay rise of almost 40% for its chief executive Michael Geoghegan following shareholder protests. The board will make a final decision on Friday, before HSBC publishes 2009 results on Monday, according to press reports. It is understood that the
Read moreLondon close: Footsie suffers lack of confidence
23rd Feb 2010 16:21
A terrible report on US consumer confidence sent Wall Street spiralling lower, dragging London's leading index deep into the red late on. UK shares started well enough, but weakened steadily through the morning and spent much of the afternoon dipping in and out of negative territory until the US da
Read moreLondon afternoon: Stocks drift lower
23rd Feb 2010 15:16
A weak opening on Wall Street has dragged Footsie lower, though the number of fallers among the blue-chip index's constituents barely outnumbers the risers. Wolseley is leading the risers, after surprising the market with an unscheduled trading update. The building supplies group said it expects p
Read moreLondon midday: Leading shares mixed
23rd Feb 2010 12:13
For the second day in succession the FTSE 100 has turned lower after a moderately bright start. Comments on the fragility of the UK economy from Bank of England governor Mervyn King have given investors pause for thought. King, appearing before a parliamentary committee, said: 'There have been some
Read moreLondon open: Shares start strongly
23rd Feb 2010 08:38
Shares have started strongly as company updates are given a warm reception. Shares in Wolseley jumped after the building supplies group said it expects profits for the year to 31 July 2010 to exceed analysts' expectations of £326m. However, it said the better than expected earnings will be due to
Read moreLondon pre-open: Slight gains expected
23rd Feb 2010 07:36
Footsie is expected to rise slightly despite a lower finish on Wall Street last night. Building supplies group Wolseley said it expects profits for the year to 31 July 2010 to exceed analysts' expectations of £326m. However, it said the better than expected earnings will be due to improvements in c
Read moreLloyds confirms Daniels will waive bonus
23rd Feb 2010 07:24
Lloyds Banking Group has issued a statement confirming that chief executive officer Eric Daniels will waive his right to a bonus for the second year in succession. ‘Mr Daniels has taken this action because he believes that the excellent progress the group is making, based on the considerable contri
Read moreTuesday paper round-up: British Airways, Lloyds Banking, Toyota
23rd Feb 2010 06:28
British Airways crew have voted to strike and could throw the travel plans of hundreds of thousands of passengers' into chaos as early as next week. Union workers at the country's national air carrier voted 81% in favour of industrial action over pay and conditions. As many as 700,000 travellers co
Read moreLloyds Banking boss gives up bonus
22nd Feb 2010 16:52
Eric Daniels, chief executive officer of loss-making lender Lloyds Banking Group, has bowed to public pressure and waived his right to a bonus this year. Daniels, who was instrumental in driving through the disastrous merger with HBOS which saw the traditionally conservative Lloyds become contamina
Read moreLondon close: Footsie slips back
22nd Feb 2010 16:36
Footsie struggled to find any sense of direction on a quiet day's trading, closing slightly in the red. Bunzl showed a healthy rise as the market was encouraged by a strong second half for the group that saw margins improve. Foreign exchange tailwinds enabled the outsourcing and distribution group
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