TSB confirms takeover bid from Spain's Banco Sabadell, Lloyds gives approval
12th Mar 2015 09:18
Recently floated TSB has received a cash takeover approach from Spain's Banco Sabadell, which TSB's majority owner Lloyds said it would accept. A preliminary bid at 340p per share has been tabled, the lender confirmed, 80p higher than its price at flotation last June. Within minutes, shares in TSB,
Read moreLloyds sells iconic Halifax House Price Index to Markit
10th Mar 2015 09:45
The UK's Lloyds Banking Group is selling one of the country's most popular property price trackers, the Halifax House Price Index to global financial data provider Markit. Lloyds acquired the tracker when it was forced to buy out HBoS after the UK's banking crisis. The index has been published month
Read moreMorgan Stanley expects UK bank capital ratios to rise further to meet regulatory standards
9th Mar 2015 17:41
US heavyweight banking titan Morgan Stanley took note of the rising capital demands for UK banks in its latest note to clients and now expects that over 13% of Common Tier Equity 1 (CTE1) ratios to become the new baseline for the sector. "We see more evidence that the seemingly relentless march upwa
Read moreLondon close: Greek concerns send UK stocks to three-week low
9th Mar 2015 17:01
UK stocks fell on Monday, dropping to their lowest in three weeks, as renewed concerns about Greece weighed on sentiment. London's FTSE 100 finished down 0.51% at 6,876.47 by the end of trading on the back of losses in the real estate and construction sectors. The index has not closed below this lev
Read moreBoE says size of investment banks leaves them vulnerable to risks
9th Mar 2015 16:53
With trading assets of 10 of the largest investment banks in the UK summing to more than £5trn, the sheer scale of these operations means that liquidity in financial markets can be vulnerable to the failure of a single firm. That was the message of the Bank of England's (BoE) latest quarterly bullet
Read moreMonday broker round-up
9th Mar 2015 11:29
Barclays: Charles Stanley reiterates accumulate. Nomura stays at buy, ups target to 81p from 78p. Lloyds: Investec reiterates buy and 85p target price. RSA: Credit Suisse reiterates outperform recommendation and hikes target to 525p from 475p. Goldman downgrades to sell from neutral. ARM Holdings:
Read moreLloyds looking to dispose of Irish CRE portfolio
9th Mar 2015 11:13
Lloyds Banking Group is looking to dispose of its entire residual Irish CRE portfolio, according to reports in Ireland. "As of the end of 2014, the gross exposure on the portfolio was £1.8bn against £1.4bn provisions, meaning any price in excess of 23p in the pound should trigger further provision w
Read moreGovernment brings stake in Lloyds under 23%
9th Mar 2015 08:34
The British government has sold £500m worth of shares in Lloyds Banking Group, bringing its stake in the bank down from 40% to 22.8%. The sale brings the amount of money raised through HM Treasury's trading plan in the lender to over £1bn. The Treasury said that the scheme, introduced in December,
Read moreSector movers: StanChart and Barclays give banks a boost
4th Mar 2015 14:53
Decent gains from the likes of Standard Chartered and Barclays drove the UK banking sector higher on Wednesday. Emerging markets-focused lender Standard Chartered was rising 4.3% in afternoon trade despite announcing that adjusted pre-tax profits in 2014 dropped 25% to $5.2bn as operating income fel
Read moreLondon close: Stocks inch lower as US data comes in mixed
27th Feb 2015 16:43
Despite setting a new intraday record just before the close, the FTSE 100 finished just a few points lower on Friday as investors took profits after a batch of mixed economic data from the States. The Footsie ended the session down 3.07 points at 6,946.66, down just 0.04% from the all-time closing h
Read moreSector movers: Lloyds and StanChart gain but banking sector edges lower
27th Feb 2015 15:14
The UK banking sector was slightly lower on Friday as well-received results from Lloyds and decent gains from Standard Chartered were offset by falls in the share prices of RBS, HSBC and Barclays. The sector was down around 0.5% on average. UK lender Lloyds was trading 1.1% higher despite 2014 resu
Read moreLondon midday: FTSE flat on mixed earnings as Germany approves Greek extension
27th Feb 2015 11:50
UK stocks touched a new intraday record on Friday before slipping into the red, as investors treaded carefully on another busy day for corporate earnings and economic data. The FTSE 100 reached a new high of 6,960.00 early on, surpassing the previous intraday record reached on Tuesday, but had erase
Read moreBroker tips: Lloyds, RBS, Rightmove
27th Feb 2015 11:37
Shares in banking group Lloyds edged higher on Friday after shareholders celebrated their first dividend payment in six years, though weaker-than-expected results prompted Shore Capital to retain a 'hold' rating on the stock. The broker said: "Based on last night's closing price of 78.5p, the shares
Read moreShoreCap keeps 'hold' on Lloyds after mixed 2014 results
27th Feb 2015 09:47
Shares in banking group Lloyds edged higher on Friday after shareholders celebrated their first dividend payment in six years, though weaker-than-expected results prompted Shore Capital to retain a 'hold' rating on the stock. "The main news is that the company has finally resumed dividend payments t
Read moreLondon open: Stocks flat early on ahead of German vote and economic data
27th Feb 2015 08:27
Strong gains from Lloyds, IAG and Old Mutual were not enough to lift markets on Friday as UK stocks held steady near record levels. The FTSE 100 was trading 0.07% lower at 6,945.11, after having settled at an all-time closing high of 6,949.73 on Thursday. Markets were directionless early on ahead o
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