London 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
Read moreLloyds mulls capital raising plans
29th Oct 2009 11:06
Lloyds Banking has confirmed that it is in advanced discussions with UK authorities regarding alternatives to entering the state insurance scheme for toxic debt. The part-nationalised lender is considering raising cash via a rights issue and debt swap as an alternative to participating in the Gover
Read moreLondon open: Banks cure Shell shock
29th Oct 2009 08:34
UK blue chips continued yesterday's poor form, falling further in early deals as Shell disappointed with a 73% plunge in quarterly profits, but recovering financial plays soon erased the deficit. Royal Dutch Shell's third quarter earnings crashed to just $3bn from $10.9bn a year ago on a current co
Read moreThursday newspaper round-up: Lloyds, National Express, Best Buy
29th Oct 2009 06:01
Lloyds Banking Group will begin sounding out investors about launching a £25bn capital raising to withdraw from the state insurance scheme for its toxic debts. The Government and other Lloyds shareholders are due to see the bank amid fears that its crumbling share price has thrown the planned £11bn
Read moreUpdate: EU approves Northern Rock split
28th Oct 2009 11:47
The European Commission has approved plans to break up Northern Rock into a 'good' and a 'bad bank'. The good part will include its branch network, its good loans and ongoing mortgage business, while the bad part will hold the remaining toxic assets and will be wound down over time. The British go
Read moreEU to approve Northern Rock sale, reports
28th Oct 2009 07:23
The European Commission is expected to approve plans to break up and sell Northern Rock, according to press reports. The government hopes to sell the viable part of Northern Rock ahead of next year's general election. The Independent is quoting a British Government sources as saying that ministers
Read moreWednesday newspaper round-up: Lloyds, RBS, Northern Rock
28th Oct 2009 06:00
Lloyds, Royal Bank of Scotland and Northern Rock will be broken up and parts of their businesses sold off to create three new banks, it emerged last night. Government sources said ministers were "determined" to see more competition in the market, following the £1.2 trillion bailout of the sector whi
Read moreFTSE 100 movers: BP leads the way
27th Oct 2009 14:42
Shares in BP are higher after the oil giant kicked off the oil majors results season on Tuesday with third quarter figures that showed a smaller than feared drop in profits. Peer BG Group, due to deliver third quarter results tomorrow, is also higher. Drug group GlaxoSmithKline is another FTSE 10
Read moreSector movers: BP lifts oil stocks
27th Oct 2009 12:50
Oil stocks are gushing higher after BP kicked off the oil majors results season on Tuesday with third quarter figures that showed a smaller than feared drop in profits. Profit attributable to shareholders came to $5.34bn between July and September from $8.05bn in the third quarter last year. Repla
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