London midday: Rally stalls
15th May 2009 12:15
Weak properties and oils have pitched the Footsie into the red, despite the continued strength of banks and miners. Shocking figures from property giant Land Securities on Wednesday are still casting a shadow over the real estate investment trusts (REITs). LandSecs leads the sector lower but Hammer
Read moreBarclays up on $10bn BGI sale talk
15th May 2009 09:32
Shares in Barclays jumped on reports that the banking giant is considering offers worth around $10bn (£6.5bn) for its asset management arm Barclays Global Investors. Potential bidders for the BGI division include US money manager BlackRock and Bank of New York Mellon, according to press reports.
Read moreBroker snap: Barclays and HSBC get the nod from KBW
15th May 2009 09:14
Barclays, already fielding bids for its iShares business, was buoyed Friday morning by rumours of a sale of the whole of its asset management arm. US group Blackrock is rumoured to be interested in buying the unit and may be prepared to pay up to $10bn. Little wonder, then, that Keefe, Bruyette &
Read moreLondon open: Banks give Footsie a boost
15th May 2009 08:48
Banks have helped Footsie make a bright start with reports that Barclays is considering new offers for its iShares arm boosting the whole sector. Barclays may backtrack on a deal to sell its iShares unit to CVC, the private equity group, and instead offload its entire asset management division for
Read moreLondon midday: Shares tread water
14th May 2009 11:54
It is back to square one for London's blue-chips, with gains on banks and miners cancelled out by losses on oils and telecoms giant BT. Banks suffered some profit taking earlier in the week but are bouncing back, helped by a research note on the sector from Morgan Stanley. The US investment bank ha
Read moreLondon close: Banks hold back Footsie
12th May 2009 16:28
There was no shortage of company news to give Footsie direction but the index ended the day little changed as downbeat banks offset well-received updates. Royal Bank of Scotland, Lloyds Banking Group and Barclayseased after Credit Suisse suggested the margins of UK banks will come under pressure.
Read moreLondon afternoon: Back in the blue
12th May 2009 14:11
In keeping with the day's topsy-turvy theme, the Footsie is back in positive territory, despite the weakness of banks and miners. Royal Bank of Scotland, Lloyds Banking Group and Barclays are all easier after Credit Suisse suggested the margins of UK banks will come under pressure. In the mining
Read moreFTSE 100 movers: Credit Suisse knocks banks
12th May 2009 13:41
Credit Suisse unsettled the bank sector despite lifting its price targets on part-nationalised banks Royal Bank of Scotland and Lloyds Banking Group. Royal Bank of Scotland has had its target price increased from 25p to 30p, while Lloyds' price target is boosted to 65p from 45p, but both stocks hav
Read moreBroker tips: UK banks, Enterprise, Babcock
12th May 2009 13:06
Credit Suisse has upped its price targets on part-nationalised banks Royal Bank of Scotland and Lloyds Banking Group but the increased targets are still below both banks' current share prices. Royal Bank of Scotland has had its target price increased from 25p to 30p, while Lloyds' price target is b
Read moreLondon midday: Banks lower on margin worries
12th May 2009 12:13
The market had an indecisive morning, with yesterday's decline after four successive days of gains giving investors pause for thought. Banking is the weakest sector after a cautious review of UK banks by Credit Suisse. The Swiss bank has cut its ratings on Barclays and Royal Bank of Scotland, with
Read moreTechnical Analysis: Banks running out of steam
12th May 2009 10:56
Since March the banking sector has undergone a significant turn around in fortunes. This turnaround must be put into context of its decline since 2007. Since the peaks of 11,696.30 in February 2007 the sector has plummeted over 85% peak to trough so it was inevitable that there would be a bounce at
Read moreBroker snap: Credit Suisse warns on banking margins
12th May 2009 10:01
Credit Suisse has upped its price targets on part-nationalised banks Royal Bank of Scotland and Lloyds Banking Group but the increased targets are still below both banks’ current share prices. Royal Bank of Scotland has had its target price increased from 25p to 30p, while Lloyds’ price target is b
Read moreLondon open: Dull start for Footsie
12th May 2009 08:46
London's blue chips have opened lower as investors digest a string of trading statements and results. Pubs group Enterprise Inns has called time on its dividend as it seeks to pay down its debt pile. The company announced an interim pre-tax profit of £103m, in line with market expectations but down
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