UK 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 moreLloyds 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
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