Sunday newspaper round-up: Lloyds, Stagecoach, National Express
25th Oct 2009 11:42
Lloyds will announce within days a controversial £23bn fundraising that will bolster its balance sheet and finally repair the damage caused by its disastrous takeover of rival HBOS, according to the Sunday Times. Stagecoach is putting the final touches to bank financing ready to launch a takeover b
Read moreFriday newspaper round-up: Northern Rock, Cadbury, Apple
23rd Oct 2009 06:08
Plans to slice Northern Rock into good and bad assets have been delayed by two months, even though the European Commission is on the brink of approving the break-up and private sale of the lender. The Treasury had hoped to carve up the bank by the end of October in a move that would have enabled it
Read moreLondon close: Tough day for Footsie
22nd Oct 2009 16:41
Blue chips rallied late in the day, but it was a tough session generally with miners and insurance companies under pressure. Telcos led the rally with Vodafone, British Telecom and satellite group Inmarsat all making gains near the close. Lloyds was also a late riser as on reports that it is close
Read moreFTSE 100 movers: Lloyds up on cash call backing report
22nd Oct 2009 10:26
Lloyds Banking Group is one of the main risers on a tough day of blue chips after a report it is is close to securing backing for a cash call that involves the Qatar Investment Authority. Lloyds is planning to launch a rights issue and refinancing next week provided it can persuade regulators and t
Read moreLondon close: Footsie slips back
20th Oct 2009 16:50
There was no shortage of company news to give Footsie direction but it was the release of housing data in the US that ultimately dragged the leading share index into the red. Housing starts increased to a seasonally-adjusted annual rate of 590,000 last month, up 0.5% above a revised 587,000 in Oct
Read moreLondon afternoon: Footsie pulled both ways
20th Oct 2009 14:19
Footsie is struggling to find any sense of direction despite some big movements in individual companies' share prices. Fast growing software company Autonomy is finding the market hard to please. Despite another spell of strong organic growth in the third quarter, the shares are the worst performer
Read moreLondon midday: Banks drag Footsie down
20th Oct 2009 12:04
Footsie made a valiant effort to finish the morning in the blue but came up just short, thanks largely to the weakness of financial stocks. Barclays is sharply lower, after Qatar's sovereign wealth fund said it was selling half of the warrants it holds in the bank. Qatar Holding is selling 379.22
Read moreLondon open: Footsie struggles despite bumper Apple crop
20th Oct 2009 08:38
Excitement in the US over better than expected third quarter results from iPhone giant Apple has not crossed the Atlantic with UK blue chips struggling to make headway. Banks are proving a drag. Barclays is lower, seemingly on the news that its president Bob Diamond has turned down the chance to be
Read moreLondon pre-open: Footsie to close in on 5300
20th Oct 2009 07:46
Better than expected third quarter results from consumer electronics company Apple after the close of the US market yesterday has juiced London this morning with traders expecting the FTSE 100 index to open up around 8 points higher at 5,290. Education group and FT publisher Pearson has upped its e
Read moreLloyds trims asset management arm
20th Oct 2009 07:10
Lloyds Banking has continued to divest its peripheral businesses with the sale of the Bank of Scotland Portfolio Management Service and two other private client businesses to Rathbone Brothers for £35.4m. The sale follows a detailed review of the group's private client activities, which concluded t
Read moreLondon close: Oil fired Footsie
19th Oct 2009 17:10
Boosted by a bright start on Wall Street equities finished the day with a flourish in London with the FTSE 100 index close to racking up a triple digit gain. Energy stocks saw some late interest as the price of oil moved higher. At midday in New York the price of the most widely traded oil futures
Read moreLondon afternoon: Shares consolidate gains
19th Oct 2009 14:39
After racing off to a fast start leading equities have largely consolidated the gains made in the first hour of trading. Property stocks are among the best performers after a positive note on the sector from Evolution Securities, which has upped its ratings for British Land, Liberty International
Read moreUpdate: FSA to protect borrowers from themselves
19th Oct 2009 13:48
City watchdog the Financial Services Authority (FSA) has unveiled a range of proposed changes to mortgage regulation designed to 'protect consumers more from themselves.' The headline-grabbing change proposed by the FSA is the scrapping of self-certification mortgages, with the regulatory body taci
Read moreLondon midday: More gains for Footsie
19th Oct 2009 12:14
Mining and property stocks have sparked another strong morning for the FTSE 100 index. Miners Fresnillo, Kazakhmys, Vedanta, Anglo American, Xstrata and Antofagasta are leading the way. Property stocks are lifted by a positive note on the sector from Evolution Securities, which has upped its rat
Read moreFSA to outlaw self-certification mortgages
19th Oct 2009 09:17
Self-certification mortgages are for the scrap-heap, the Financial Services Authority said Monday, as it proposed a shake-up of mortgage regulations. The Financial Services Authority (FSA) said the onus of verifying affordability when a mortgage application is considered should be on the lender, wi
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