London midday: Retailers, miners drag FTSE 100 into the red
8th Oct 2013 11:20
Markets were sharply lower on Tuesday with retailers and miners providing a drag as investors digested a barrage of gloomy economic data and the ongoing government shutdown in the States. The FTSE 100 dipped below the 6,400 mark in morning trade, a level seen as support for London's benchmark index
Read moreLloyds Bank returns to bond market
7th Oct 2013 14:49
Lloyds Bank returned to the bond market on Monday after a two-year break. The retail division of Lloyds Banking Group was due to price a €1bn five-year bond on Monday, Reuters reported. Books were opened by the issuer in early trading. Today´s benchmark trade is only the second senior unsecured is
Read moreLondon open: M&S, Burberry lead FTSE 100 lower as US shutdown persists
7th Oct 2013 08:29
An ongoing government shutdown Stateside continued to weigh on market sentiment on Monday with London's FTSE 100 registering losses in morning trade. US lawmakers failed to reach an agreement on either the budget or the debt-ceiling over the weekend, heightening fears that the US could run out of t
Read moreThursday newspaper round-up: BP, Deadlock, Lloyds
3rd Oct 2013 07:36
BP has reached a milestone in its legal battle to limit its compensation settlement for the 2010 Deepwater Horizon disaster, following a favourable ruling from a US court. The Fifth Circuit appeals court in New Orleans on Wednesday night approved an injunction to stop payments to businesses that had
Read moreLondon close: Late rally not enough as FTSE 100 falls for fourth straight day
2nd Oct 2013 16:43
A slight bounce in the UK-listed mining sector saw the FTSE 100 rally on Wednesday afternoon but the index still finished firmly in the red, setting a fresh one-month low as political uncertainty in the US and Italy continued to weigh on sentiment. The FTSE 100 finished down 22.51 points at 6,437.5
Read moreBroker snap: Improving macro picture should help UK banks
30th Sep 2013 09:41
Bank of America Merrill Lynch (BAML) said that the top-line recovery across the European banking sector should be the most striking in the UK, helped by the ongoing improvement in the macro-economic picture. Following its 18th annual European Banking and Insurance Chief Executive Officer conference
Read moreMonday newspaper round-up: Italy, China manufacturing, Help to Buy
30th Sep 2013 07:25
Enrico Letta, Italy's centre-left Prime Minister, is seeking urgently parliamentary support for a new government after centre-right leader Silvio Berlusconi pulled his ministers out of their five-month-old coalition, risking a financial market backlash. Mr Letta held crisis talks on Sunday night wit
Read moreFriday broker round-up UPDATE
27th Sep 2013 08:48
Admiral Group: Berenberg ups target price from 1060p to 1080p, but still recommends selling. Amlin: Berenberg reduces target price from 422p to 398p and downgrades to sell. Atkins (WS): JP Morgan increases target price from 1298p to 1348p and maintains an overweight rating. AZ Electronic Material
Read moreLondon close: FTSE 100 falls to two-week low
25th Sep 2013 16:41
Heavy falls from Carnival, Tesco and utility stocks weighed on the FTSE 100 on Wednesday while uncertainty over the US budget and Federal Reserve monetary policy continued to dampen sentiment. London's benchmark index finished 19.93 points lower at 6,551.53, a fall of 0.3% on the day. This was the
Read moreFTSE 100 movers: Carnival continues to fall on poor Q3 results
25th Sep 2013 15:23
Cruise operator Carnival was a heavy faller for the second day in a row after the company disappointed with its third-quarter results and guidance for the full year. Morgan Stanley downgraded its rating on the stock this morning from 'equalweight' to 'underweight' and cut its full-year earnings pe
Read moreLondon midday: Stocks lower on Fed uncertainty
25th Sep 2013 11:26
Markets were choppy on Wednesday but trading firmly in the red by midday as investors awaited economic data from the US amid the ongoing uncertainty surrounding Federal Reserve monetary policy. Recent mixed economic data and conflicting comments by Fed officials over recent days continue to muddy t
Read moreLondon close: Stocks up but gains limited on Fed uncertainty, mixed data
24th Sep 2013 16:31
Markets closed slightly higher on Tuesday afternoon after a choppy day though upside was limited as investors focused on mixed data and the uncertain future for Federal Reserve monetary policy. Last week's surprise decision by the Fed to maintain its stimulus programme is still fresh in investors'
Read moreBroker tips: Lloyds, Rolls-Royce, Euromoney
24th Sep 2013 12:26
Investec has upgraded its rating for Lloyds from 'sell' to 'hold' and lifted its target price from 65p to 76p on a more accommodative and targeted political and regulatory backdrop. Analyst Ian Gordon said that the Prudential Regulation Authority's (PRA's) decision to impose an "accelerated" 3% lev
Read moreLloyds to sell portfolio of European commercial real estate loans
24th Sep 2013 12:25
Lloyds Banking Group has agreed the sale of a portfolio of European commercial real estate loans as part of its non-core asset reduction strategy. The sale, which will be made for around £263m (€312m), is expected to complete by the year-end. The gross assets subject to the transaction are £371m
Read moreLondon midday: Market flat after German data comes in mixed
24th Sep 2013 11:30
Stocks were trading broadly flat on Tuesday morning with markets lacking direction after mixed economic data from Germany and concerns about the US economy. The German IFO business climate indicator for the month of September edged up only slightly, yet expectations for the next six months were sli
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