London close: Footsie bounces back
27th Nov 2009 16:28
Footsie ended the day with good gains as investors' nerves calmed following sharp declines on the back of worries about the financial sector's exposure to a debt default by Dubai World. Shares initially fell, adding to heavy losses yesterday after Dubai stunned financial markets when it announced t
Read moreLondon afternoon: Footsie advancing again
27th Nov 2009 14:11
Footsie has rallied and is now showing modest gains as worries over the Dubai debt situation ease. Royal Bank of Scotland has led teh recovery having calmed nerves by saying it has signed up for the government's asset protection scheme (APS). The bank said in a statement that the agreement was sign
Read moreLloyds to ask courts to throw out overdraft claims
27th Nov 2009 13:29
Lloyds Banking is to ask local courts to dismiss thousands of claims for the return of unauthorised overdraft fees. 'As the judgement concludes the test case, the FSA has agreed that these complaints should no longer remain on hold,' a statement on the websites of both Lloyds TSB and HBOS reads acc
Read moreLondon midday: Footsie still lower
27th Nov 2009 12:41
Footsie is still sitting slightly lower amid continued worries over the Dubai debt situation. But Royal Bank of Scotland is now going well having fallen back in early dealings on fears over the financial sector's exposure to a debt default by Dubai World. RBS calmed nerves by saying it has signed u
Read moreFriday newspaper round-up: Dubai fall-out, Ofwat, LSE
27th Nov 2009 06:31
The FTSE 100 suffered its worst one-day fall since March closing down 3.2%. Companies with big Middle Eastern shareholders led the rout, on the back of concerns that high-rolling emirate Dubai would be forced to sell stakes to raise capital. Barclays Bank tumbled 7.9% and the London Stock Exchange
Read moreLondon Close: Dubai worries knock market
26th Nov 2009 17:25
The London market wasn't helped by a technical glitch at the London Stock Exchange but it was never going to be a good day due to worries about the debt problems of Dubai. The fact that there was no trading for more than three hours just made investors even more nervous. The FTSE 100 fell by more
Read moreFTSE 100 movers: Dubai worries batter stocks
26th Nov 2009 14:26
London Stock Exchange is one of the heaviest fallers in the FTSE 100 after the exchange operator was forced to suspend trading for more than three hours following a technical hiccup this morning. It had already come in for selling ahead of the shutdown as analysts fretted over how the Dubai debt si
Read moreLondon afternoon: Trading resumes .. so does the decline
26th Nov 2009 14:18
Trading resumed on the London Stock Exchange at 2:00pm after the exchange's technical glitch, but prices are not looking any healthier than they were before the trading interruption. Banks are under the cosh on concerns over Dubai's debt situation. The government owned Dubai World, which has debts
Read moreSector movers: Banks and miners bear the brunt
26th Nov 2009 12:16
With no sectors in the blue today amid heavy falls in equity prices, banks and miners are among the worst performers. Banks are under the cosh on concerns over Dubai's debt situation. The government owned Dubai World, which has debts of $59bn, has asked creditors if it can delay debt repayments due
Read moreThursday newspaper round-up: Walker Review, Lloyds/HBOS, Vodafone
26th Nov 2009 06:30
Big banks will have to disclose how many of their UK employees are paid more than £1m under recommendations to be published today by City banker Sir David Walker, the FT writes. Sir David will say that half the bonuses paid to employees should be deferred for three to five years. He will also propo
Read moreWhat to do with your Lloyds shares
25th Nov 2009 14:12
Almost three million shareholders will have some tough decisions to make over the next few weeks after Lloyds Banking Group yesterday priced its colossal £13.5bn rights issue. The bank is offering the 2.8 million private investors on its share register, the largest shareholder base in Britain, the
Read moreDarling defends secret loans to RBS and HBOS
25th Nov 2009 14:11
Chancellor Alistair Darling today defended the decision to keep secret £61.6bn of loans to Royal Bank of Scotland and HBOS during the height of the credit crunch in 2008, claiming their disclosure would have "seriously jeopardised" the UK financial system. News of the loans only came out yesterday,
Read moreWednesday tips round-up: Lloyds Banking, Severn Trent, SSL
25th Nov 2009 06:35
On balance, Lloyds Banking investors should take up their rights and consider this an investment for the long term suggests the Telegraph. The average shareholder owns 740 shares, which means the average sum an investor will have to stump up to prevent dilution at this stage is £367. Ultimately, t
Read moreWednesday newspaper round-up: Royal Bank of Scotland, Lloyds Banking, BBC
25th Nov 2009 06:27
Royal Bank of Scotland and HBOS were given a secret £61.6bn in bridging loans last year on top of the £500bn of support that the banking sector received from the taxpayer, the Governor of the Bank of England disclosed yesterday. MPs expressed astonishment when Mervyn King told them about the emerg
Read moreLondon close: FTSE 100 closes 32 points lower
24th Nov 2009 16:48
London ended the day in the red as the FTSE 100 lost its earlier gains after Wall Street opened sharply lower. London did not sustain a short-lived rally in the late afternoon. The market seemed to initially ignore Bank of England governor Mervyn King's cautious comments to the House of Commons Tr
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