London afternoon: Prices drift lower
30th Jun 2009 15:24
London continues to sleepwalk to the end of the month, with prices drifting lower in light trading after Wall Street opened in negative territory. With the oil futures contract edging steadily higher, heavy fuel users such as airline British Airways and cruise operator Carnival are on the slide. I
Read moreLloyds to slash 2,100 UK jobs
30th Jun 2009 12:40
Lloyds Banking announced it is axing another 2,100 jobs over the next three years as the part-nationalised lender continues to streamline the business following last year's takeover of rival HBOS. The group said the number is mitigated by the creation of about 350 new roles in the wholesale divisio
Read moreLondon midday: Marking time
30th Jun 2009 12:10
Leading equities are treading water on the last day of the month, quarter and half-year. Wolseley is one of the best performers after chief executive Chip Hornsby stepped down with immediate effect to let Ian Meakins take the helm at the building supplies group. Hornsby, who leaves after 27 years
Read moreLondon open: Blue chips head south
30th Jun 2009 08:54
London has opened lower despite a good showing on Wall Street overnight and interest in the banks this morning. Wolseley is the best performer as chief executive Chip Hornsby has stepped down with immediate effect to let Ian Meakins take the helm at the building supplies group. Hornsby, who leaves
Read moreTuesday newspaper round-up: Royal Bank of Scotland, Lloyds, Candover
30th Jun 2009 06:13
Neelie Kroes, the European Union competition commissioner, is on Tuesday set to warn UK banks for a second time within a week that they may have to make disposals as a condition for the granting of state aid. Ms Kroes's tough message to the British Bankers' Association conference emphasises the ha
Read moreLondon close: Late gains lift Footsie
29th Jun 2009 16:50
After a rather sluggish start to the day, Footsie ended with chunky gains, helped by buoyancy on Wall Street. Lloyds Banking topped the list of risers after Goldman Sachs raised its rating on the shares from "neutral" to "buy" and added them to its "conviction buy" list. Goldman Sachs has also lif
Read moreLondon afternoon: Financials spearhead the advance
29th Jun 2009 14:21
Banks and insurers lead the way as London continues its steady advance. Lloyds Banking tops the list of risers after Goldman Sachs raised its rating on the shares from "neutral" to "buy" and added them to its "Conviction Buy" list. Goldman Sachs has also lifted its target price from 61p to 107p, af
Read moreBroker tips: Lloyds, Admiral, National Express
29th Jun 2009 12:53
US bank Goldman Sachs has added part-nationalised British bank Lloyds Banking Group to its conviction buy list, claiming Lloyds shares represent the cheapest option among the major large-cap European banks. Goldman Sachs has upgraded Lloyds from "neutral" to "buy", going against the trend of most i
Read moreBroker snap: Goldman's contrary view on Lloyds
29th Jun 2009 12:50
US bank Goldman Sachs has added part-nationalised British bank Lloyds Banking Group to its conviction buy list, claiming Lloyds shares represent the cheapest option among the major large-cap European banks. Goldman Sachs has upgraded Lloyds from "neutral" to "buy", going against the trend of most i
Read moreLondon midday: Lloyds leads banks higher
29th Jun 2009 11:51
Risers outnumber fallers by around three to one among Footsie constituents, as the index pushes ahead despite weakness among miners. Lloyds Banking tops the list of risers after Goldman Sachs raised its rating on the shares from "neutral" to "buy" and added them to its "Conviction Buy" list. Goldm
Read moreFTSE 100 movers: Lloyds given boost by Goldman
29th Jun 2009 11:05
US bank Goldman Sachs gave Lloyds Bank a boost by adding it to its conviction buy list. The US bank claims Lloyds shares represent the cheapest option among the major large-cap European banks and upgraded Lloyds from "neutral" to "buy". GS expects Lloyds to be a "key beneficiary" of the concentrati
Read moreLondon open: Footsie makes steady start
29th Jun 2009 08:32
London's blue chips have made a steady start with banks pushing on and insurers making gains. Lloyds and Barclays are both ahead with the new government paper on regulation of the sector likely soon and expected to see a defeat for the ideas of Bank of England governor Mervyn King. Outsource gian
Read moreSunday newspaper round-up: Lloyds Banking, Anglo American, Marston's
28th Jun 2009 10:45
Lord Davies, the former Standard Chartered chief and now Trade minister, has been offered the chairmanship of Lloyds Banking Group but will turn the job down. The peer's decision to decline the job will be a blow to John Kingman, head of UK Financial Investments (UKFI), the body which owns the Gove
Read moreLondon afternoon: Banks and miners retreat
25th Jun 2009 14:27
Leading equities drift lower in the afternoon session, led by banks and miners. Asia-focused bank Standard Chartered eases back, despite enjoying record income and operating profit in the first five months of this year. Some of this success has been offset by weakness in consumer banking, however,
Read moreLondon close: Footsie closes flat
18th Jun 2009 16:34
A late afternoon rally fizzled out to leave Footsie little changed after a volatile day. Economic stories dominated the news with mixed data in the UK offset by better than expected intial jobless figures in the US. UK mortgage lending eased in May from the month before and was 58% lower than the
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