London 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
Read moreSunday newspaper round-up: ENRC, RBS, Lloyds
18th Oct 2009 12:17
Eurasian Natural Resources Corporation (ENRC), the Ftse 100 metals and mining giant, is planning to buy out its founders' African assets in a potentially controversial deal. The deal, which has not been valued but could be worth more than $2bn (£1.2bn), would be paid entirely or mostly in shares rat
Read moreLondon close: Blue chips slip lower
16th Oct 2009 16:50
London's blue chips closed lower as investors used a 100 point plus fall for the Dow as an excuse to take profits. Many of the major commodity plays, including Xstrata, Rio Tinto and Anglo American had enjoyed gains in early deals, but investors lost interest late morning. Oil plays BP, Royal Dutc
Read moreLondon afternoon: Stocks remain lower
16th Oct 2009 14:54
London's blue chips are still in the red in midday dealings after the Dow dropped more than 100 points in the US. Many of the major commodity plays, including Xstrata, Rio Tinto and Anglo American had enjoyed gains in early deals, but investors lost interest late morning. Oil plays BP, Royal Dutch
Read moreBroker tips: Lloyds, National Express, Whitbread
16th Oct 2009 12:24
News of the disposal of its Halifax Estate Agencies sent shares in Lloyds higher Friday, but an upgrade from Deutsche Bank will have done no harm either. The German bank notes that the economy has strengthened, yet shares in Lloyds are 15% below their recent peak. It lifts its recommendation to '
Read moreLondon midday: Footsie gains evaporate
16th Oct 2009 12:07
London is back where it finished yesterday's session as a sell-off in the mining sector on weaker metal prices gathered pace near lunchtime. Many of the major commodity plays, including Xstrata, Rio Tinto and Anglo American had enjoyed gains in early deals, but investors lost interest late morning.
Read moreBroker snap: Deutsche Bank upgrade lifts Lloyds
16th Oct 2009 11:37
News of the disposal of its Halifax Estate Agencies sent shares in the bank Lloyds higher Friday, but an upgrade from Deutsche Bank will have done no harm either. The German bank notes that the economy has strengthened, yet shares in Lloyds are 15% below their recent peak. It lifts its recommenda
Read moreLondon open: Oil spike lifts Footsie
16th Oct 2009 08:45
Footsie has opened stronger helped by an improvement on Wall Street last night and strong demand for oil stocks after a spike in crude prices. National Express, though, is the main talking point. The price has crashed by more than a quarter as investors face the prospect of a hefty rights issue af
Read moreLloyds axes 460 as Halifax estate agency sold for £1
16th Oct 2009 07:40
Lloyds Banking is to cut 460 jobs including 360 permanent positions following the sale of Halifax Estate Agencies to rival LSL property for just £1. LSL will take over Halifax Estate Agency's assets and liabilities, which operates through a network of 218 branches, including 93 franchise operations
Read more