Lloyds sale could be delayed by Syria tensions
5th Sep 2013 15:13
The Government's planned sale of its stake in Lloyds Banking Group could be delayed until later in the autumn of 2013 because of turbulent equity markets. The UK Treasury and its UK Financial Investments asset management arm are monitoring market reaction to the Syrian crisis. A sale of part of t
Read moreSector movers: Banking stocks lead risers in London
5th Sep 2013 14:05
Banking stocks were the highest risers on Thursday as markets reacted positively to a number of central-bank policy decisions across the globe. The Bank of England, European Central Bank (ECB) and Bank of Japan all decided to keep monetary policy on hold over the last 24 hours. A close eye was kept
Read moreLondon midday: Stocks trim gains, BoE holds rates
5th Sep 2013 11:27
After a strong start for UK stocks, the FTSE 100 pared gains by lunchtime as nervousness set in ahead of a number of risk events that have the potential to spark some volatile moves on financial markets. Risk appetite was also scaled back ahead of the G20 meeting which begins in St Petersburg today
Read moreLondon open: Stocks surge ahead of BoE, ECB meetings
5th Sep 2013 08:13
The FTSE 100 jumped strongly in early trading on Thursday as investor risk appetite increased ahead of policy decisions from the Bank of England (BoE) and the European Central Bank (ECB) later on. The Bank of Japan meeting overnight was "a bit of a non-event", according to Market Analyst Craig Erla
Read moreThursday broker round-up UPDATE
5th Sep 2013 08:03
AMEC: Nomura reduces target price from 1300p to 1230p, while reiterating its buy recommendation. Antofagasta: Exane cuts target price from 1200p to 1100p maintaining an outperform rating. Ashtead Group: JP Morgan shifts target price from 729p to 734p and keeps a neutral rating. Associated British
Read moreFormer Co-op Bank boss Richardson comes out fighting
4th Sep 2013 15:57
The former Chief Executive of the Co-operative Bank has pinned the blame for its current crisis on former colleagues for their "disastrous" decision to bid for more than 600 Lloyds Banking Group branches. Neville Richardson told the Treasury Committee he warned the Co-op Group's bosses that they wo
Read moreHalifax chief Nicholson sells 350,000 Lloyds shares
3rd Sep 2013 14:49
The head of Lloyds Banking Group's Halifax arm has sold more than 2.5m pounds of Lloyds shares as the state-backed bank prepares for reprivatisation. David Nicholson disposed of 350,000 shares at 73.34p each on September 2nd for £2.57m. When Nicholson sold his shares, they had gained 120% in the
Read moreLondon close: Markets finish lower despite late rally
28th Aug 2013 17:05
Markets rallied in afternoon trade on Wednesday, helped by dovish remarks from Bank of England (BoE) Governor Mark Carney and a decent start on Wall Street, but stocks still finished in the red as escalating concerns about Syria continued to dampen sentiment. The FTSE 100 finished down 10.91 points
Read moreLondon open: Markets edge lower after long weekend
27th Aug 2013 08:12
Stocks fell on Tuesday morning after a three-day weekend as markets attempted to play catch-up following negative sessions in the US and Asia overnight. Concerns over Syria are likely to weigh on sentiment after US Secretary of State John Kerry said last night that Syria would be held accountable f
Read moreUK government to begin sale of Royal Mail in September
23rd Aug 2013 16:40
The UK government is planning to begin the sale of its majority stake in Royal Mail in September, Bloomberg reported, citing three people with knowledge of the matter. The sources said the postal service may announce its intention to float mid-month and the initial public offering (IPO) could open
Read moreThursday broker round-up UPDATE
22nd Aug 2013 07:25
Aggreko: RBC Capital reduces target price from 1850p to 1680p, while its neutral rating remains unchanged. Aviva: JP Morgan raises target price from 393p to 436p and retains an overweight rating. BHP Billiton: Canaccord Genuity takes target price from 1950p to 2050p maintaining a hold recommendati
Read moreLondon midday: Ex-div stocks drag FTSE 100 to six-week low
21st Aug 2013 11:33
Markets were sharply lower on Wednesday morning as risk appetite was scaled back ahead of this evening's release of the minutes of the latest Federal Reserve policy meeting. The FTSE 100 was trading as low as 6,400 today in London today; the last time it closed below this level was on July 5th when
Read moreLondon open: FTSE 100 slips as investors await Fed minutes
21st Aug 2013 08:29
The FTSE 100 fell into the red on Wednesday morning, hitting a fresh six-week low as investors nervously awaited the minutes of the latest Federal Reserve meeting. The index dropped 0.5% to around the 6,420 mark early on. The last time the London benchmark closed lower was on July 5th when it finis
Read moreLondon pre-open: Stocks expected to fall ahead of FOMC minutes
21st Aug 2013 07:26
Markets are expected to open lower on Wednesday morning as traders nervously await the minutes of the latest Federal Reserve meeting. City sources predict the FTSE 100 will open down 12 points after hitting a six-week low of 6,453.46 yesterday. Market sentiment has been a little fragile ahead of
Read moreLloyds incurs loss on disposal of German life insurance unit
21st Aug 2013 07:08
Lloyds has announced that it is offloading its German life insurance business as it continues to downsize its international footprint, but will take a big loss in doing so. The UK bank said that the sale "is in line with the group's strategy of rationalising its international presence and ensuring
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