Sector movers: Banks fall as government starts Lloyds sell-down
17th Sep 2013 14:36
Banking stocks were among the worst performers in London on Tuesday with Lloyds sinking after the government began to sell-off its stake in the lender five years after its state bailout back in 2008. The UK Financial Investments, the company that manages the government's investments in Lloyds and f
Read moreLondon midday: Markets retreat from six-week high as banks fall
17th Sep 2013 11:23
The upcoming all-important policy decision by the Federal Reserve prompted an element of caution on stock markets across Europe on Tuesday, with the FTSE 100 pulling back from a six-week high. Banking stocks were among the notable fallers in London with Lloyds sinking after the government placed a
Read moreBroker tips: Lloyds, Glencore Xstrata, Bunzl...
17th Sep 2013 11:21
The sale of a six per cent stake in Lloyds by the government was a 'very well-timed' disposal, according to Investec. Investec analyst Ian Gordon said: "We regard the government's timing as impeccable, and it appears credible to suggest that it could yet be out in full by the election." Nevertheles
Read moreBroker snap: Government's timing of Lloyds sale is 'impeccable', says Investec
17th Sep 2013 11:15
The sale of a six per cent stake in Lloyds by the government was a 'very well-timed' disposal, according to broker Investec. UK Financial Investments (UKFI), the unit of the Treasury which is handling the sale of Lloyds and Royal Bank of Scotland, said it received £3.21bn for disposing 6% of the le
Read moreUK government begins sale of Lloyds
17th Sep 2013 09:00
The UK government has started selling its 38.7 per cent stake in Lloyds Banking Group. UK Financial Investments (UKFI), the unit of the Treasury which is handling the sale of Lloyds and Royal Bank of Scotland, said it received £3.21bn for disposing 6% of the lender to institutional investors at a p
Read moreTuesday tips round-up: Lloyds, Petrofac, Optimal payments
17th Sep 2013 08:36
The government is a bit late to the party but the first step in the winding down of its stake in Lloyds should be welcome. In particular, it is a positive that it finally opted for a placing among institutional investors, rather than an initial public offering [IPO] or convoluted share giveaway, as
Read moreLondon open: Banks lead markets lower ahead of FOMC meeting
17th Sep 2013 08:14
Following a strong start to the week, investors turned cautious ahead of the conclusion of the Federal Open Market Committee (FOMC) meeting tomorrow afternoon as markets ready themselves for one of the most closely-watched US policy decisions in recent years, given rising expectations that the Fed w
Read moreUKFI to place 6 per cent of Lloyds with institutional shareholders
16th Sep 2013 17:23
UK Financial Investments has announced its intention to sell approximately a 6 per cent stake in Lloyds Banking Group by means of a placing with institutional investors. The price will be set by means of an accelerated bookbuilding process, which began immediately following the announcement. As
Read moreUK Financial Investments appoints new head
16th Sep 2013 10:03
UK Financial Investments (UKFI) has appointed James Leigh-Pemberton, the son of former Bank of England governor Robin Leigh-Pemberton, as its new head. Leigh-Pemberton is replacing Jim O'Neil who is stepping down to join Bank of America Merrill Lynch. He will be the fourth person to head UKFI, th
Read moreWednesday newspaper round-up: Syria, FTT, Lloyds
11th Sep 2013 07:07
Barack Obama has asked Congress to delay a vote authorising a strike on Syria while the US and its allies pursue a diplomatic initiative with Russia at the UN to force Damascus to give up its chemical weapons. In a nationally televised address from the White House, the US president said the initiati
Read moreLloyds gains on UK government sale speculation
10th Sep 2013 15:44
Lloyds Banking Group's shares rallied on speculation the UK government could begin selling off its stake in the lender in September. The government is considering selling about a quarter of its 39% holding in the bank, sources told Reuters, adding that it could happen in the next seven to 10 days.
Read moreFTSE 100 movers: BG falls after warning on Egypt
9th Sep 2013 18:29
Oil and gas group BG was a heavy faller today after lowering its 2014 production milestones due to the instability in Egypt, delays to the start-up of production in Norway and low natural gas prices in the US. Food ingredients peer and retail group Associated British Foods was also lower despite s
Read moreLloyds Banking Group's TSB reopens as stand-alone brand
9th Sep 2013 09:27
Lloyds Banking Group's Trustree Savings Banks (TSB) will reopen on the high street Monday as a stand-alone brand. Lloyd is disposing hundreds of branches under the new brand name to meet competition rules by the European Commission. TSB, which merged with Lloyds in 1995, will open 631 branches Eng
Read moreSunday newspaper round-up: Vodafone, Serco, Glencore
8th Sep 2013 20:09
Vodafone is considering a £6bn takeover of Africa's Maroc Telecom after agreeing to sell its stake in Verizon Wireless, the Mail on Sunday reported. The phone company is also mulling a move for France's SFR using the war chest it will have after returning cash from the Verizon deal to shareholders.
Read moreLondon close: FTSE 100 at three-week high after policy meetings
5th Sep 2013 17:03
A host of central-bank policy meetings, a dovish tone from Mario Draghi and the continued improvement in US economic data helped lift stocks higher on Thursday, with the FTSE 100 closing at levels not seen in three weeks. London's benchmark index ended the day up 57.7 points at 6,532.44, its highes
Read more