London close: Miners fire Footsie higher
2nd Nov 2009 16:23
Miners dominated London's top ten risers, offsetting weakness among financials, while promising US manufacturing data encouraged buyers over here. Randgold Resources was top of the pile as the price of gold topped $1,060 an ounce. It's also keen to bring the renamed Kibali mine into production as s
Read moreTuesday preview: Lloyds, AB Foods, Rolls-Royce
2nd Nov 2009 15:50
Part-nationalised lender Lloyds Banking Group's £25bn recapitalisation programme will finally be made public tomorrow, according to reports. The bank is expected to raise £13.5bn from a deeply discounted rights issue, possibly at 50p a share, with the British government subscribing for £5.5bn of s
Read moreLondon afternoon: Market consolidates gains
2nd Nov 2009 15:11
Footsie has spent the afternoon session consolidating the morning's gains., with miners continuing to be the star performers while financials stumble. Sharply higher metal prices and news that Randgold Resources is keen to bring the renamed Kibali mine into production as soon as possible helped min
Read moreLloyds cash call expected Tuesday
2nd Nov 2009 15:05
Part-nationalised lender Lloyds Banking Group's £25bn recapitalisation programme will finally be made public tomorrow, according to reports. The bank is expected to raise £13.5bn from a deeply discounted rights issue, possibly at 50p a share, with the British government subscribing for £5.5bn of sh
Read moreLondon midday: Black morning for banks
2nd Nov 2009 12:10
Though it has not been a good morning to hold financial stocks, the FTSE 100 index still had a positive session, thanks largely to strong demand for mining stocks. Sharply higher metal prices and news that Randgold Resources is keen to bring the renamed Kibali mine into production as soon as possi
Read moreLondon open: Early gains for Footsie
2nd Nov 2009 08:57
London's blue chips have opened higher driven by resource stocks though it is banking shares that are the main focus. Royal Bank of Scotland is close to an agreement with the government over its proposed participation in the toxic asset protection scheme (APS) and also confirmed weekend reports it
Read moreMonday newspaper round-up: Lloyds Banking, Ryanair, British Airways
2nd Nov 2009 06:11
Lloyds Banking will on Tuesday unveil twin sweeteners to persuade existing bondholders to exchange their bonds for riskier investments that could convert into equity - the most innovative, and closely guarded, element of the part-nationalised bank's £25bn recapitalisation programme, the FT writes.
Read moreSunday newspaper round-up: RBS, Lloyds, Cadbury
1st Nov 2009 14:40
Britain's banks face one of the most crucial weeks in their history with sell-off plans for Lloyds Banking Group and Royal Bank of Scotland assets to be finalised, just as the financial regulator begins scrutinising City bonuses. Alistair Darling is expected to say on Tuesday that Lloyds will not b
Read moreLondon midday: Retailers lifted by consumer confidence
30th Oct 2009 12:12
Insurers and miners are hampering the Footsie's progress today, but outside of these two sectors most blue-chips are on an upward trajectory, helped by some decent news on the economy. Economic data released Friday shows that UK consumers are more confident now than at any time in the last 21 mont
Read moreFriday newspaper round-up: Lloyds, Threshers, bankers pay
30th Oct 2009 06:15
Lloyds CEO Eric Daniels and advisers have met key shareholders to discuss issuing £7.5bn of convertible bonds and a rights issue of £13bn, to be launched by Nov 4 at latest. The government has said it will take up its full allocation of new shares to maintain its 43.5% stake, adding about £6bn to th
Read moreLondon close: Shares end near session high
29th Oct 2009 16:23
London's top stocks closed near its session high on news that the US economy grew faster than expected in the third quarter. Traders loved news that the US economy grew 3.5% annually in the last quarter, more than expected and the fastest rate of increase in two years. Part-nationalised bank Lloyd
Read moreFTSE 100 movers: Banks bounce back
29th Oct 2009 15:10
Shares in Lloyds Banking, which is in advanced discussions with UK authorities regarding alternatives to entering the state insurance scheme for toxic debt, are soaring. The lender is considering raising cash via an underwritten rights issue and debt swap. Fellow part-nationalised lender Royal Bank
Read moreLondon afternoon: Blue chips track US advance
29th Oct 2009 14:55
America's return to growth in the third quarter, stronger UK banks and a better mining sector have propelled London far into the blue Thursday. Traders loved news that the US economy grew 3.5% annually in the last quarter, more than expected and the fastest rate of increase in two years. Part-nati
Read moreLondon midday: Banks shine but Footsie falls
29th Oct 2009 12:05
Shareholders in Royal Dutch Shell are grateful to Lloyds Banking Group for wresting investor attention away from the Anglo-Dutch company's poorly received results, as the part-nationalised bank confirmed it is contemplating digging an escape tunnel from the government's asset protection scheme. Llo
Read moreSector movers: Oils upended by gloomy Shell
29th Oct 2009 11:53
A disappointing set of third quarter numbers from Royal Dutch Shell sent Oil & Gas Producers skidding lower Thursday. The oil giant said earnings for the three months to the end of September, on a current cost of supplies (CCS) basis, fell 73% to just $3bn from $10.9bn a year ago. All three of Lo
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