London pre-open: FTSE set for positive start after recent declines
25th Mar 2014 07:42
The City is poised for a modest rise this morning, ignoring a disappointing performance seen in the US and Asia overnight as European investors prepare to weather this current storm of choppy trading. Sources predict the FTSE 100 will open 14 points above yesterday's close of 6,520.39, which Lee M
Read moreTuesday newspaper round-up: Lloyds, Pets at Home, Marks&Spencer
25th Mar 2014 06:36
Lloyds is about to sail into another storm of criticism over alleged financial misconduct. BBC Radio 4 will today claim that its investigation shows the lender has been providing "alternative redress" to more than one in four claimants of payment protection inusrance (PPI). By assuming that customer
Read moreLondon close: Russia, China concerns keep FTSE firmly in red
24th Mar 2014 16:59
- Ukraine, China weigh heavily on market - Eurozone PMI falls unexpectedly - US manufacturing comes in below expectations techMARK 2,753.98 -1.32% FTSE 100 6,520.39 -0.56% FTSE 250 16,019.41 -0.87% Stocks finished firmly lower today as concerns over mounting geopolitical tensions in western Europe
Read moreFTSE 100 movers: Lloyds climbs on rating upgrade
24th Mar 2014 15:48
Investec has upgraded its rating for Lloyds Banking Group from 'hold' to 'buy', telling investors that "it is safe to go back in the water", prompting a strong rise in the share price. "After a 10% 10-week pull-back, we again see reasonable value for a low-risk stock. Upgrade to 'buy'," the broker
Read moreBroker tips: Standard Life, Lloyds, Hargreaves Lansdown...
24th Mar 2014 11:43
Shore Capital has reiterated its 'hold' recommendation on insurer Standard Life after the company confirmed speculation that it is in talks with Phoenix regarding the potential purchase of the latter's Ignis Asset Management division. Shore Capital Analyst Eamonn Flanagan said that the move compoun
Read moreLondon midday: Stocks fall as Crimea turmoil drags on
24th Mar 2014 11:42
- Ukraine tensions escalate as G7 leaders meet - Interim President orders withdrawal from Crimea - Chinese manufacturing PMI eases - Kentz, Centamin impress, Diploma drops techMARK 2,769.80 -0.75% FTSE 100 6,537.07 -0.31% FTSE 250 16,085.67 -0.46% Heightened geopolitical tensions in Ukraine pushed
Read moreInvestec upgrades Lloyds after recent falls
24th Mar 2014 09:38
Investec has upgraded its rating for Lloyds Banking Group from 'hold' to 'buy', telling investors that "it is safe to go back in the water". The broker had downgraded Lloyds to 'hold' back in January citing five main concerns: "frothy" sellside forecasts for 2013; PPI top-up risks; enhanced capital
Read moreLondon open: Ukraine, China fears weigh on stocks
24th Mar 2014 08:24
- Reports of increased Russian presence near Ukraine border - Chinese manufacturing PMI falls - Standard Life in talks with Phoenix over Ignis - Kentz, Centamin rise after results techMARK 2,779.91 -0.39% FTSE 100 6,549.85 -0.11% FTSE 250 16,173.87 +0.09% UK stocks opened in the red on Monday as r
Read moreSunday newspaper round-up: Life insurers, energy companies, supermarkets
23rd Mar 2014 15:45
The chief executives of some of Britain's biggest life insurers have asked regulators to intervene after the Chancellor's announcement of dramatic changes to the pensions market, the Sunday Telegraph said. The insurance bosses have contacted the Financial Conduct Authority and the Prudential Regulat
Read moreLondon open: Mining stocks provide a lift early on
21st Mar 2014 08:27
- Miners recover after recent slump - Obama imposes more sanctions on Russia - Markets await speeches from Fed officials techMARK 2,803.23 +0.11% FTSE 100 6,565.89 +0.36% FTSE 250 16,219.13 +0.01% UK equities opened slightly higher on Friday as decent gains in the mining sector lifted the resource
Read moreAberdeen gets regulatory approval to buy Lloyds fund management arm
20th Mar 2014 15:58
Aberdeen Asset Management has received regulatory approval to buy Lloyds Banking Group's fund management division Scottish Widows Investment Partnership. The company said the deal is expected to be completed in March 31st following approval from the Financial Conduct Authority. In November, Aberde
Read moreLloyds receives oversubscribed debt swap offer of 4bn pounds
20th Mar 2014 07:55
Lloyds Banking has received substantial institutional demand from investors in its Enhanced Capital Notes (ECNs), bonds that were used to help bail out the bank in 2009 and known as Cocos, worth around 4bn pounds. The FTSE 100 bank offered to swap the ECNs for new Additional Tier 1 (AT1) capital bo
Read moreUK banks to boost profits in 2014 but face more charges, says S&P
13th Mar 2014 16:56
The UK's biggest banks are set to increase their profits this year, but financial hits from reforms linked to past scandals are likely to keep coming, according to a rating agency. Barclays, HSBC, Lloyds Banking Group and the Royal Bank of Scotland are set to focus on improving returns and putting
Read moreWednesday newspaper round-up: Co-op, Mortgage rates, Travelex
12th Mar 2014 07:21
On Tuesday evening the Co-op decided on a revamp of its governance structure to a two-tier system. There will be one group resembling the top of a public company which will in turn report to a more traditional Co-op-style board of members. The change will be voted on May 17th by the group's regional
Read moreFriday newspaper round-up: Forex, Crimea, Barclays
7th Mar 2014 06:58
Robert de Groot, the head of foreign exchange trading at BNP Paribas, was suspended on Thursday. De Groot joined the Bank of England´s chief dealers´ group - a panel on which senior forex traders and Bank officials sit - in 2007. Said committee was thrust into the spotlight this week after Bank re
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