Lloyds to sell further share in St James Place
22nd May 2013 17:16
Lloyds Banking Group said it planned to sell a further 15 per cent of its stake in wealth manager St James's Place to swell its equity capital 500m pounds. Lloyds explained that if it placed its 15% stake with buyers, with the shares closing on Wednesday at 640p, the bank would receive £493m, for a
Read moreLondon close: Bernanke's dovish tone sparks surge late on
22nd May 2013 17:12
After a relatively subdued start on the FTSE 100, stocks surged in afternoon trade as comments from the Chairman of the Federal Reserve pushed the index to fresh 13-year highs. The benchmark index extended its impressive year-to-date rise to nearly 16% today after Ben Bernanke initiated a dovish to
Read moreBroker snap: Lloyds to meet capital targets, but Investec still cautious
22nd May 2013 16:00
Lloyds moved to reassure markets on Wednesday by playing down concerns about new tough capital requirements, but Investec still rates the stock as a 'sell'. Shares in the part-nationalised lender were up 2.29% at 62.94p before the close of trade after the company said it would be able to meet new r
Read moreSector movers: Stocks gain as banks play down worries over capital targets
22nd May 2013 15:08
Banking stocks were in demand on Wednesday after playing down concerns about capital requirements and as speculation ramps up regarding the potential reprivatisations of both RBS and Lloyds. Both part-nationalised lenders released statements this morning, reassuring the markets that they would be a
Read moreLondon midday: Stocks pull back as UK retail sales drop
22nd May 2013 12:02
Disappointing retail sales in the UK saw markets pull back from a 13-year highs on Wednesday morning while traders kept a close eye on central banks around the world. UK retail sales volumes fell sharply in April, by 1.3% month-on-month as the poor weather continued to lead shoppers to forego purch
Read moreLondon open: Stocks dip as focus turns to central banks
22nd May 2013 08:38
Markets pulled back from new 13-year highs on Wednesday morning as traders turned cautious ahead of statements from central banks in the UK and US. The FTSE 100 finished at a closing price of 6,803.87 on Tuesday, extending its impressive year-to-date rise to over 15%. The index is now coming close
Read moreLloyds to fulfil capital requirements without fundraising
22nd May 2013 07:55
Lloyds Banking Group said it will be able to meet new heavier capital requirements from its existing business and selective disposals. In March, the Bank of England's new financial stability regulator, the Financial Policy Committee (FPC), had stated that Lloyds was overstating its capital by £3.0b
Read moreWednesday newspaper round-up: Japan, BP, RBS and Lloyds...
22nd May 2013 06:51
The Bank of Japan has held off on new monetary easing, according to the Financial Times, "judging that the huge stimulus unveiled in April will be enough to spur price gains in the world's third-largest economy". The central bank said that Japan has "started picked up". Financial Times says that Br
Read moreBankers' bonus cap to hit up to 10 times as many employees
20th May 2013 09:58
PricewaterhouseCoopers has said the European Union (EU) is to significantly extend the reach of the bankers' bonus cap to include 10 times as many employees than previously expected. Officals from the European Banking Authority will this week cap financial sector pay at 0.5m euros, PwC has said.
Read moreMonday newspaper round-up: RBS, UK inflation, M&S...
20th May 2013 06:47
Chancellor George Osborne is expected to face opposition from Treasury civil servants over his plans to sell the government's stake in part-nationalised lender RBS to the public, reports The Times. Senior officials are said to be against the idea, saying that they are over-complex and have raised co
Read moreSunday share tips: Thomas Cook, Mitchells and Butlers, Lloyds
19th May 2013 17:30
Thomas Cook still has a long flight ahead of it, but the new Captain at the controls seems to have stabilised the craft. In fact, things now look normal. Above all, the company needs to sharply improve the experience of its customers, quite a challenge. However, the 1.6bn pound capital restructurin
Read moreLondon close: FTSE 100 hits new multiyear highs after US data
17th May 2013 16:29
The FTSE 100 rallied in afternoon trade after some better-than-expected economic data from the States, pushing the index to new five-and-a-half-year highs. A strong surge so far this month has now lifted London's equity benchmark to within touching distance of the 2007 high of 6,751. The Footsie ha
Read moreFTSE 100 movers: RBS rises into top spot on UBS comments
17th May 2013 14:42
Banks were making a strong rise after UBS lifted its rating for the global banking sector from 'underweight' to 'overweight', saying that the operating environment is beginning to improve. In a research report titled 'Post-crisis banking', UBS said that the tone of its Global FID conference earlier
Read moreLloyds sees share price reach government break-even point
17th May 2013 13:50
Lloyds Banking Group's shares advanced Friday to a level which the government considers high enough to exceed the break-even point for a sale of its stake in the company. The state-backed lender rose 3.02% to 62.75p at 13:57, above the government's 61.2p break-even price. Industry sources and anal
Read moreLondon midday: Markets rally as banks rise
17th May 2013 11:47
After a subdued start, the FTSE 100 pushed into positive territory ahead of the opening bell in New York with financials leading the rise after a broker upgrade. The Footsie breached the 6,700 mark yesterday for the first time since mid-2007 after 10 consecutive sessions in the blue, before falling
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