Wednesday newspaper round-up: Lloyds, China house prices, RBS
18th Sep 2013 07:06
Retail investors are likely to be able to join in the next sale of the government's stake in Lloyds, the Chancellor said yesterday. Flush from the success of the government's inaugural sale of some of its shares for 3.2bn pounds, George Osborne said: "I will consider all options for later sales of o
Read moreLondon close: Investors take profits ahead of Fed decision
17th Sep 2013 17:01
Stocks extended losses by the end of trade on Tuesday as investors trimmed positions ahead of the much-anticipated Federal Reserve policy meeting tomorrow. Weighing on markets were heavy falls in the banking sector, with Lloyds sinking after the government placed a 6% stake at a 3.1% discount to ye
Read moreFTSE 100 movers: Utilities rise on cautious investing
17th Sep 2013 14:50
Utilities stocks Severn Trent and United Utilities were on the rise as investors grew cautious as the US Federal Reserve begins its two-day meeting during which the central bank will debate whether the economy has improved enough to start scaling back its monetary stimulus. Randgold Resources was
Read moreSector 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
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