London close: Footsie finishes flat
9th Jun 2009 17:05
The UK's blue-chip index spent the day flitting above and below last night's closing level so it should have been no surprise when the FTSE 100 closed virtually unchanged. Thomas Cook was the day's best performer after it calmed investors' nerves over the collapse of Arcandor, which has a 52% stake
Read moreUpdate: Lloyds axes 1,660 jobs in C&G closures
9th Jun 2009 14:44
Lloyds Banking confirmed it is axing a further 1,660 jobs and close the branch network of Cheltenham & Gloucester. The part-nationalised bank will close all 164 of the C&G's branches across the UK in November as part of a deep retrenchment programme following the disastrous acquisition of HBOS. Tha
Read moreLondon afternoon: Thos. Cook soars on bid spec
9th Jun 2009 14:39
It's been a see-saw day for London's leading shares which are now predominantly firmer, after US markets opened moderately higher. Lloyds Banking Group has confirmed press reports that it is to close its Cheltenham & Gloucester branch network in a move that will see 1,000 jobs go. Lloyds also annou
Read moreC&G joins High Street graveyard
9th Jun 2009 12:36
There's little room for sentimentality in business, especially in the middle of the worst recession for decades, so Lloyds' decision to close all 164 Cheltenham & Gloucester (C&G) branches by November should come as little surprise. G&G, bought by Lloyds for £1.8bn in 1995, can trace its history ba
Read moreLondon midday: Defence stocks beat a retreat
9th Jun 2009 12:05
Leading shares are now lower, dragged down by expectations of a weak start on Wall Street and by a trimming of the strong early gains made by miners. Lloyds Banking Group is still in the blue on reports it is to axe a further 1,500 jobs and close the branch network of Cheltenham & Gloucester. Gla
Read moreLondon open: Blue chips start well
9th Jun 2009 08:47
Last night's late recovery in Wall Street has given London a modest boost this morning. Lloyds is going well on reports it is to axe a further 1,500 jobs and close the branch network of Cheltenham & Gloucester. Miners are also in demand again following yesterday's rally in the US. Vedanta and Antof
Read moreLloyds to close all Cheltenam & Gloucester branches
9th Jun 2009 08:19
Lloyds Banking is set to axe a further 1,500 jobs and close the branch network of Cheltenham & Gloucester, according to reports this morning. The part-nationalised bank will close all 160 of the Cheltenham & Gloucester's branches across the UK as part of a deep retrenchment programme following the
Read moreLondon afternoon: Lloyds rump placed at 60p
8th Jun 2009 14:20
Footsie clawed back some losses over the lunch time session but remains in the red, thanks largely to the weakness of miners, which are following metals prices lower. Mining stocks Vedanta Resources, Eurasian Natural Resources, Anglo American, BHP Billiton, Rio Tinto, Fresnillo, Lonmin and Antofa
Read moreLondon midday: Miners weigh down Footsie
8th Jun 2009 12:19
London's blue-chip index is doing its usual trick of following the miners, which today are in a down phase. The worst performers in the mining sector are Vedanta Resources, Eurasian Natural Resources, Anglo American, BHP Billiton, Rio Tinto, Fresnillo and Antofagasta. Hochschild Mining follows
Read moreFTSE 100 movers: Lloyds depressed by rump placing
8th Jun 2009 10:39
Lloyds Bank slumped by more than 7% as the book runners for its £4bn open offer and placing attempted to place £500m of shares no taken up by shareholders. The issue itself was 87% taken up, which included the government taking up its 43% stake pro-rata. If the book runners don't manage to find b
Read moreLondon open: Bank news knocks Footsie
8th Jun 2009 08:40
Banking shares have dominated early trading after news from both Barclays and Lloyds, but investors have reacted cautiously in both instances. Barclays has confirmed talks are underway with US firm BlackRock over the future over its fund management arm Barclays Global Investors (BGI), which includ
Read moreLondon pre-open: Footsie to start lower
8th Jun 2009 07:40
Banking shares are likely to be in focus Monday morning after updates from both Barclays and Lloyds. Traders expect Footsie to drop 25 points early on. Barclays has confirmed talks are underway with US firm BlackRock over the future over its fund management arm Barclays Global Investors (BGI), whi
Read moreLloyds' open offer gets 87% acceptances
8th Jun 2009 07:16
Part-nationalised bank Lloyds Banking said its compensatory open offer received acceptances in respect of 87% of the shares on offer. The joint book-runners of the issue will now attempt to place the unsold shares in the market at a price of not less than 38.3p, being the price at which the shares
Read moreMonday newspaper round-up: Lloyds, Barclays, Ferrexpo
8th Jun 2009 06:17
Lloyds Banking Group is expected to repay about £2.3 billion to the Government this week, becoming the first lender in Europe to return bailout money to the taxpayer. The £2.3bn cheque addressed to the Treasury could not have come at a better time for Gordon Brown. The repayment is being made far s
Read moreComment: Lloyds' merger mystery party
5th Jun 2009 17:13
The Lloyds Banking Group AGM on Friday was no party for directors as shareholders took the opportunity to vent their spleen at the company's hasty takeover of the toxic debt receptacle that is HBOS, with one shareholder at the AGM declaring the acquisition a 'disaster'. Many shareholders bought int
Read more