Lloyds places 11% of TSB at 280p per share, analysts react positively
26th Sep 2014 07:31
Lloyds has announced the successful sale of 57.m shares in TSB Banking Group at a price of 280p per share via a placing. The shares are equivalent to an 11.5% stake in the lenders' share capital, thus reducing its holding to 50%. Following the transaction Lloyds will continue to have 50% of TSB and
Read moreFriday paper round-up: Lloyds, TSB, Tesco, Sainsbury's, Putin
26th Sep 2014 07:03
teerngasLloyds Banking Group has kickstarted a share sale in its TSB banking division, which will leave the bailed-out bank with a 50% stake in TSB, The Daily Telegraph reported on Friday. Lloyds sold 38.5% of TSB in June, with shares priced at 260p each, and has announced it will sell an additional
Read moreLondon midday: Stocks drop as US Treasury acts to block tax inversion deals
23rd Sep 2014 12:38
UK stocks were firmly lower come midday, tracking overnight losses on Wall Street, with investors apparently reacting the US Treasury's move last night to make corporate tax inversions more difficult. Acting as a backdrop, traders were monitoring the first coalition airstrikes against Islamic State
Read moreBig banks see rise in loan numbers, BBA reveals
23rd Sep 2014 12:30
The number of mortgages taken out by customers of the UK's big banks has jumped 15% year-on-year, the British Bankers' Association (BBA) revealed on Tuesday. The data showed that gross mortgage borrowing totalled £11.1bn and that although approval processes were temporarily disrupted by the implemen
Read moreLloyds "to sell more shares in TSB"
23rd Sep 2014 12:18
Lloyds Banking Group may sell another tranche of shares in TSB Banking Group, it was reported on Tuesday. Lloyds, which sold 38.5% of TSB on the market in June for £500m, is considering a second share sale after a lock-up period expires, according to news agency Reuters. The group is said to have r
Read moreMonday newspaper round-up: Phones 4u, Alibaba, Lloyds, Royal Bank of Scotland
22nd Sep 2014 07:09
Mobile operator EE is set to takeover about 60 shops from the stricken retailer Phones 4u, in a move that will save hundreds of jobs, The Guardian reports. Phones 4u entered administration last week, after EE cancelled its contract with the phone retailer just a few months after Vodafone had made a
Read moreSunday newspaper round-up: Lloyds, Marks&Spencer, Oil explorers
21st Sep 2014 18:48
Lloyds Banking Group is considering moving its legal home to England from Scotland even after the Scots voted against leaving the UK, the Mail on Sunday reported. Lloyds had said it would move if Scotland voted to leave the union but has only said it would keep "a significant presence" in Scotland a
Read moreLondon midday: UK stocks near two-week high as Scots vote against independence
19th Sep 2014 11:18
UK stocks advanced on Friday, poised to finish at their highest levels in two weeks, after the Scottish people voted in favour of the Union in a crucial independence referendum. Some 55.3% of Scots voted 'no' to independence from the UK while 44.7% voted 'yes', erasing concerns about a break-up whic
Read moreLondon open: UK stocks rise as Scots vote 'no' to independence
19th Sep 2014 08:22
UK stocks staged a relief rally on Friday morning in the aftermath of the Scottish referendum, which saw people north of the border vote convincingly to remain part of the Union. Some 55.3% of Scots voted 'no' to independence from the UK while 44.7% voted 'yes', erasing concerns about a break-up whi
Read moreOil, Life Insurance and Banking would pay steepest price for independence, Liberum says
18th Sep 2014 12:54
In a research note published on Thursday afternoon Liberum explains to clients that in the event of Scotland voting in favour of independence then the worst affected sectors would be: Oil, Life Insurance and Banking. The analysts base their call on what happened following the mini-scare of 8 Septemb
Read moreLondon midday: Scottish stocks lead gains ahead of crucial referendum
18th Sep 2014 11:43
After a slow start, London stocks advanced on Thursday with the FTSE 100 bouncing off its lowest levels in nearly a month, as companies based north of the border advanced with the focus firmly on the Scottish referendum. The benchmark Footsie index was trading 0.4% higher at 6,811 by noon. Three str
Read moreFTSE 100 movers: Smiths Group drops after results miss forecasts
17th Sep 2014 14:32
Engineer Smiths Group was leading the fallers on the FTSE 100 on Wednesday after missing expectations with a 5% fall in annual revenues to £2.95bn on the back of foreign exchange headwinds and a small disposal. Analysts at Deutsche Bank had expected a figure closer to £3.05bn. Beverage groups SABMil
Read moreSunday newspaper round-up: RBS, Scottish independence, Prudential
14th Sep 2014 13:04
Royal Bank of Scotland could have a pension funding gap of up to 5.6bn pounds if Scotland votes to leave the UK, the Sunday Times reported. Other companies such as Lloyds Banking Group and BP would also be affected by a hole of about £100bn in UK corporate retirement plans, according to Credit Suiss
Read moreLondon open: UK stocks bounce off three-week low but gains limited
12th Sep 2014 08:51
UK stocks edged higher on Friday but choppy trading continued with investors concerned about the potential impact from a 'yes' vote on Scottish independence next week. Supermarket stocks were among the best performers as Morrisons extended gains made the previous session, while banks advanced, thoug
Read moreLondon close: Scottish banks recover after poll signals 'no' vote
11th Sep 2014 16:20
Scottish-based banks and insurers regained poise in the London market on Thursday after a new poll showed unionists back in the lead in the Scottish independence stakes. Royal Bank of Scotland lifted 3.8p to 346p, Lloyds Banking Group ticked up 0.85p to 74.08p and Standard Life advanced 6p to 413.4p
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