London midday: Banks and oil stocks drag Footsie lower after long weekend
26th May 2015 11:33
Greek uncertainty, interest rate speculation stateside and tonnes of US economic data ahead led to a nervous start in London following the long weekend. The FTSE 100, which settled at a two-week closing high of 7,031.72 on Friday, was down 0.23% at 7,015.37 by Tuesday midday. Concerns that Greece w
Read moreLondon open: Greek fears hit stocks as investors await US data barrage
26th May 2015 08:21
UK stocks slipped on Tuesday morning as investors started a shortened trading week on a cautious note ahead of a raft of economic data from the States. The FTSE 100 was down 0.58% at 6,991.11 early on with stocks in the banking and oil sectors providing a drag. Concerns that Greece will struggle to
Read moreStart-up British banks seeing better returns than larger rivals, says KPMG
22nd May 2015 13:35
New 'challenger' banks are outperforming the 'Big Five' high street banks, and the larger lenders need to examine better ways of standing out in the market, according to a report by KPMG. The reported said that new banks in the UK are securing stellar returns, as they pick up "the whitespace left be
Read moreLondon close: Stocks end with small gains but upside limited
18th May 2015 17:02
London's FTSE 100 managed to finish in the green after a choppy session, though upside was limited by continuing uncertainty in Greece. The Footsie settled 8.38 points higher at 6,968.87, ending well below the intraday high of 7,015.49 but firmly above the intraday low of 6,931.64. While mining sto
Read moreMonday broker round-up
18th May 2015 12:53
Lloyds: Investec downgrades to sell with 84p target. RBS: Investec reiterates buy with a 395p target price and Berenberg sell with a 250p target. Babcock International: Deutsche Bank reiterates buy and 1,150p target. Marks&Spencer: Deutsche Bank reiterates buy. Coca Cola HBC: Nomura reiterates re
Read moreFTSE 100 movers: Fresnillo surges on strong output guidance, financials lower
18th May 2015 12:34
UK stocks erased early gains as Greek concerns and a lack of economic data stoked investor uncertainty. Sector-wise, financials delivered the biggest drag, while energy stocks and miners provided a welcome boost. As of 13:30, the FTSE 100 was trading flat, just 1 point higher at 6,961 points. Fresn
Read moreLondon midday: Early gains wiped out on Greek uncertainty
18th May 2015 11:54
UK stock markets had erased gains and were trading flat by Monday lunchtime with financial shares providing a drag on concerns about Greece. The FTSE 100 was down 0.08% at 6,955.17 by midday, pulling back after reaching a high of 7,015.49 early on. Financials were trading lower with banking group L
Read moreBroker tips: BP, Lloyds, BHP Billiton, Weir Group, Bwin.party
18th May 2015 11:50
Goldman Sachs has cut its stance on the integrated oil sector from 'neutral' to 'cautious' and lowered UK major BP specifically from 'neutral' to 'sell', after reducing its crude price forecasts. "This change is likely to put severe pressure on the integrated oils, leaving them too high on the cost
Read moreInvestec downgrades Lloyds to 'sell' after recent share-price surge
18th May 2015 09:57
Lloyds is now rated as a 'sell' by Investec, which sees downside for the stock following its recent outperformance. The broker said the stock has "enjoyed a euphoric reaction" to its first-quarter update on 1 May and the result of the UK general election, taking its shares to a fresh 6.5-year high.
Read moreLondon open: Stocks advance as Aveva and Bwin jump on M&A
18th May 2015 09:13
UK stocks jumped on Monday morning despite ongoing uncertainty about Greece, as the mood on the market was boosted by bid speculation surrounding Aveva and Bwin.party. The FTSE 100 was up 0.56% at 6,999.75 early on, with mining stocks leading the charge, though BHP Billiton was bucking the trend. E
Read moreLloyds could return to private hands within a year
14th May 2015 16:59
Lloyds Banking Group could be fully returned to private hands in the next year, according to chairman Normal Blackwell. The government, which has already generated over £10bn from selling of almost half of its 41% stake in the bank, is set to continue selling shares to financial institutions such as
Read moreLondon close: Stocks finish off lows but FTSE still drops 1.4%
12th May 2015 16:33
UK stocks suffered steep declines on Tuesday as volatility in sovereign debt markets and ongoing fears about Greece sent shares 1.4% lower, with Easyjet leading the fallers on a cautious outlook. The FTSE 100 finished the session down 96.05 points, or 1.37%, at 6,933.80, though the index did finish
Read moreFTSE 100 movers: Easyjet nose dives on strikes and currency headwinds, financials lower
12th May 2015 13:10
Budget airline Easyjet led fallers despite meeting guidance and swinging to a small profit in the first half, warning it is likely to face tougher conditions in the latter part of the year. The company saw its shares sink after saying that exchange-rate movements and air traffic control strikes in F
Read moreGovernment lowers Lloyds stake below 20% with £500m share sale
12th May 2015 08:14
UK Financial Investments, the holding company which controls the government's stakes in bailed-out lenders Lloyds and RBS, has taken its stake in Lloyds to below 20%. The investment vehicle set up by HM Treasury sold £500m-worth of shares in the bank and now holds 14,223,560,740, equal to a 19.93%
Read moreTuesday newspaper round-up: Greek bond yields, Lloyds, Shell
12th May 2015 06:40
Greek borrowing costs shot up on Monday despite Athens making a €750m debt payment to the IMF, reports The Times. The yield on a Greek two-year bond yield jumped 83 basis points to 21.34% with some still concerned that the nation will default. Advisory firm Pirc has told Lloyds shareholders to vote
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