London open: BT turns Footsie blue
12th Nov 2009 08:32
Shares are inching higher in early deals as investors welcome second quarter results from BT, offsetting losses among insurers following results from Friends Provident owner Resolution. Telecoms giant BT reported second quarter revenue was in line with expectations and thinks it can cut costs by at
Read moreThursday newspaper round-up: Cadbury, British Airways, Lloyds
12th Nov 2009 06:03
Up to 14 per cent of Cadbury's share register is estimated by brokers to be controlled by hedge funds that are betting Kraft will raise its $16.2bn (£9.8bn) offer for the UK confectioner, increasing the likelihood that its hostile bid will succeed. Brokers predict that towards the end of the bid bat
Read moreLondon close: Flat finish for FTSE 100
10th Nov 2009 16:29
Footsie finished slightly in the red having failed to find any sense of direction all day as results sent stocks in both directions. Banking titan HSBC climbed after it said underlying third quarter profit was "significantly" ahead of the same time last year. It's also seeing some stabilisation in
Read moreLondon afternoon: Miners drag Footsie under
10th Nov 2009 14:31
With the US markets opening lower, London has followed suit, despite a strong performance from FTSE 100 index heavyweight HSBC. Banking titan HSBC said underlying third quarter profit was "significantly" ahead of the same time last year. It's also seeing some stabilisation in its bad debts picture,
Read moreLondon midday: Mixed fortunes for banks
10th Nov 2009 11:58
Despite a slew of company results to pick over the market continues to lack direction, though a good reception to results from index heavyweight HSBC helps underpin the FTSE 100's positive showing. Banking titan HSBC said underlying third quarter profit was "significantly" ahead of the same time la
Read moreLloyds axes 5,000
10th Nov 2009 11:24
State-controlled bank Lloyds Banking is axing a further 5,000 jobs to bring the total number of posts cut following its merger with HBOS to 12,500. The bank's insurance, retail mortgage and back office functions will bear the brunt of the latest cutbacks, with about 2,600 permanent jobs to go alon
Read moreMonday newspaper round-up: Cadbury, RBS/Lloyds, Vodafone
9th Nov 2009 06:18
Kraft, the American food company, is poised to initiate a hostile takeover bid for Cadbury today at or slightly above the offer it made in September, which valued the British confectioner at £10.2bn, according to a person familiar with the deal. Last night Kraft was finalising plans to go directly
Read moreSunday newspaper round-up: Barclays, Lloyds, Cadbury
8th Nov 2009 08:36
Gordon Brown yesterday threw his weight behind a "Tobin tax" on financial transactions as a way of taxing and reining in the banks, despite warnings that such taxes are unworkable. "We should discuss whether we need a better economic and social contract to reflect the global responsibilities of fi
Read moreLondon close: Shares shake off US blues
6th Nov 2009 17:15
The Footsie finished a see-saw day in positive territory, shrugging off concerns about the worse than expected US jobless figures, which revealed the US unemployment rate has risen above the 10% level. Banks enjoyed a day in the sun, helped by a positive response to results from Royal Bank of Scotl
Read moreLondon afternoon: Stocks slide on US jobless news
6th Nov 2009 14:04
Leading shares are retreating rapidly in the wake of worse than expected US non-farm payrolls data. October non-farm payrolls data showed the US unemployment rate rose to 10.2% from 9.8% in September. The number of jobs lost in October was 190,000, versus expectations of 175,000 job losses. So fa
Read moreSector movers: Banks make it higher
6th Nov 2009 12:36
Banks are going well Friday as investors take huge losses from RBS in their stride and a broker upgrade for Lloyds. More huge write-offs sent Royal Bank of Scotland deep into loss over the past three months. The state-controlled bank that on Tuesday announced another £33bn cash injection from the
Read moreLondon midday: Financials lead advance
6th Nov 2009 12:04
Banks and property stocks are leading the market higher, though the advance is being conducted at a leisurely pace. More huge write-offs sent Royal Bank of Scotland (RBS) deep into loss over the past three months. Nine-month losses now total £2.06bn against a profit £1.8bn this time last year. Des
Read moreWednesday tips round-up: Lloyds, Barclays, Stagecoach
4th Nov 2009 06:35
The Telegraph says investors in UK banks had a lot to digest on Tuesday, what with the confirmation of Lloyds' £13.5bn rights issue and Royal Bank of Scotland (RBS) coming back to the taxpayer cap in hand and the asset sales forced upon the banks by European regulators. The paper suggests existing
Read moreLondon close: Footsie down but above 5,000
3rd Nov 2009 16:24
London's blue chips ended off session lows and back above the 5,000 level, helped by positive reaction to announcements from Lloyds Banking and Legal & General. Royal Bank of Scotland (RBS) remained resolutely out of favour, however, as the market reacted negatively to the revised terms of its part
Read moreLondon afternoon: Market licking its wounds
3rd Nov 2009 14:11
The FTSE 100 index clawed its way back above the 5,000 level over the lunch-time session, helped by positive reaction to announcements from Lloyds Banking and Legal & General. Royal Bank of Scotland (RBS) remains resolutely out of favour, however, as the market reacted negatively to the revised ter
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