London afternoon: Prices steady at lower levels
15th Jun 2009 14:32
The market moved sideways over the lunch-time session, with the Footsie remaining deep on the red, despite a more upbeat assessment of the economy's prospects from the CBI. The employers' organisation reckons the UK could be out of recession by the end of the year, but any better sentiment was almo
Read moreFTSE 100 movers: Lloyds shines in gloomy session
15th Jun 2009 14:18
Lloyds Banking Group is one of just a handful of blue chip risers Monday after the Times said Commonwealth Bank of Australia has joined the bidding for its third-party funds business, Insight. The newspaper said the business is expected to raise as much as £300m for Lloyds. Drugs giant AstraZeneca
Read moreLondon midday: Dollar rise knocks resource stocks
15th Jun 2009 12:04
London had a difficult morning despite a more upbeat assessment of the economy's prospects from the CBI. The employers' organisation reckons the UK could be out of recession by the end of the year, but any better sentiment was almost immediately squashed by the IMF saying the opposite. It believes
Read moreLondon open: Weak start for blue chips
15th Jun 2009 08:37
London's blue chips have fallen sharply with the miners taking the biggest hit. Platinum miner Lonmin leads the fallers after it shut down its Number One furnace. The group's initial estimate is that a full repair of the vessel is likely to take around 30 days. Other miners are also under pressure
Read moreSunday newspaper round-up: Lloyds, Addax Petroleum, Friends Provident
14th Jun 2009 09:56
Lloyds Banking will lose an estimated £450m on Admiral Taverns, the pub giant, in what is believed to be one of the biggest write-offs it will be forced to take on a single investment. The group's Bank of Scotland arm had lent more than £850m to Admiral, owner of more than 2,000 pubs, to finance a
Read moreTechnical Analysis: Banks treading water
12th Jun 2009 11:02
Banks have again been in the spotlight this week with speculation growing about the government's withdrawal from ownership of large stakes of RBS and Lloyds as well as Northern Rock. Further adding to the mix has been Barclay's sale of its fund management arm to BlackRock for £8.1bn, and the upgrad
Read moreLondon close: Banks boost Footsie late
11th Jun 2009 16:33
London rallied strongly late on, helped by gains for banks, which outweighed profit taking among the big mining stocks and weakness among oil users as the price of crude rose again. Speculation is growing about the timing of the government's withdrawal from ownership of large stakes in Royal Bank
Read moreLondon afternoon: Banks in demand
11th Jun 2009 14:47
London is having a languid day, with Footsie lacking direction. Banks are strong but their gains are counterbalanced by losses on mining stocks. Banks are in focus as speculation grows about the timing of the government's withdrawal from ownership of large stakes in Royal Bank of Scotland (RBS), L
Read moreUKFI reportedly mulls RBS, Lloyds bond
11th Jun 2009 13:29
UK Financial Investments (UKFI), the government body managing Britain's stakes in Royal Bank of Scotland and Lloyds Banking, could reportedly sell an exchangeable bond in the two part-nationalised banks. According to the Telegraph, UKFI could recoup some of the taxpayer money invested in the lender
Read moreThursday newspaper round-up: RBS, Lloyds, Setanta
11th Jun 2009 06:05
The taxpayer could recover part of Britain's £70bn investment in the state-backed banks even before their share prices recover under plans being examined by UK Financial Investments, the Government body managing the stakes. John Crompton, the former Merrill Lynch banker in charge of the taxpayer's
Read moreLondon close: Miners buoy Footsie
10th Jun 2009 16:37
Footsie finished higher but with much diminished gains after surging in early dealings led by buoyant mining stocks then falling back as Wall Street retreated. Miner ENRC surged ahead after it said sales and production volumes during the first quarter were better than prior expectations though pri
Read moreLondon afternoon: Equities off the top
10th Jun 2009 15:06
Shares have eased back in the first half of the afternoon session, though Footsie remains in positive territory. Miners and banks remain the best performers. Miner ENRC surges ahead after it said sales and production volumes during the first quarter were better than prior expectations though pricin
Read moreFTSE 100 movers: Miners surge on commodity hopes
10th Jun 2009 12:51
Miners are buoyant today helped by optimism on metal demand, surging oil prices, a weak dollar and global recovery. ENRC is one of the main risers. It reported sales and production volumes during the first quarter were better than prior expectations though pricing pressures remain. Vedanta, Xstrata
Read moreLondon midday: Miners continue to rally
10th Jun 2009 12:19
Footsie is up more than 100 points with miners and banking shares driving the market forward. Miner ENRC is one of the main risers. Today it said sales and production volumes during the first quarter were better than prior expectations though pricing pressures remain. Vedanta, Xstrata, Kazakhmys, R
Read moreWednesday newspaper round-up: Northern Rock, British Airways, Thomas Cook,
10th Jun 2009 06:15
The Treasury has told its investment banking advisers to examine the feasibility of selling Northern Rock, the nationalised lender, back to the City in the autumn, The Times has learnt. A number of senior banking sources said that the Treasury was trying to ascertain whether it should float the sta
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