Lloyds disposes of non-core portfolio
10th May 2013 07:56
Lloyds Banking Group has agreed to sell its portfolio of UK commercial real estate loans to Promontoria Thames, which is affiliated to Cerberus Global Investments. The portfolio, which generated losses of £47m in 2012, was sold for £325m as part of the group's non-core asset reduction. In a stat
Read moreFTSE 100 movers: Experian, IMI, BSkyB, ENRC
9th May 2013 14:17
Credit checking giant Experian topped the FTSE Thursday after reporting full-year sales growth across all its global markets, particularly in Latin and North America. In the year to end-March, the company saw revenues from continuing activities rise six per cent to 4.7bn dollars, with earnings befor
Read moreLloyds slashes 850 jobs as cost reduction drive continues
9th May 2013 12:58
Banking giant Lloyds has announced plans to slash 850 jobs in a bid to lower costs, it was reported Thursday. The bank, which is 39% owned by the UK taxpayer, will make the cuts across a number of its operations, including commerical banking and retail. According to Reuters, Lloyds is making the
Read moreLondon close: US jobs data sends FTSE 100 to seven-week high
3rd May 2013 16:31
The FTSE 100 jumped one per cent higher to a seven-week high on Friday afternoon with stock markets rejoicing as the US jobs report smashed forecasts in April and previous months' data was revised higher. London's benchmark index closed up 61 points (+0.94%) to close at 6,521, a level not seen sinc
Read moreFTSE 100 movers: ENRC leads miners higher
3rd May 2013 15:05
Mining stocks were making decent gains as metals prices improved. ENRC was the standout performer on the back of reports Suleiman Kerimov, the Russian billionaire, has increased his stake in the miner. Also on the rise was newly merged commodities trader and mining giant Glencore Xstrata on its fi
Read moreLondon midday: Miners buoy Footsie ahead of US jobs data
3rd May 2013 11:43
Strength in the mining sector kept the FTSE 100 in positive territory on Friday morning, though the index was rangebound ahead of the all-important US jobs report due out this afternoon. A surprise drop in American jobless claims yesterday pushed the S&P 500 to a new all-time high last night as mar
Read moreBroker tips: Lloyds, Legal & General, Sainsbury
2nd May 2013 11:15
Investec has downgraded its recommendation for Lloyds Banking Group from 'hold' to 'sell' and left its target price at 50p following the bank's first-quarter results this week. Analyst Ian Gordon said that after an exceptionals-enhanced attributable profit of £1.5bn in the first three months of the
Read moreBroker snap: Investec downgrades Lloyds to 'sell'
2nd May 2013 09:28
Investec has downgraded its recommendation for Lloyds Banking Group from 'hold' to 'sell' and left its target price at 50p following the bank's first-quarter results this week. "After many happy hours tinkering with our forecasts, our view remains substantially unchanged," said analyst Ian Gordon.
Read moreLondon open: Markets cautious ahead of ECB decision
2nd May 2013 08:57
The FTSE 100 was in the red in early trading on Thursday as nerves set in ahead of the all-important European Central Bank (ECB) policy decision later on. "The day of reckoning has arrived, with the market largely priced for a 25 basis-point (bp) cut in the ECB's main refinancing rate to 0.50%. The
Read moreLondon close: Stocks fall as markets await Fed, ECB
30th Apr 2013 16:46
A disappointing reading of business activity in the States sparked a late sell-off on UK financial markets on Tuesday afternoon as traders turned nervous ahead some key risk events later this week. The Chicago purchasing managers' index (PMI), one of the leading economic indicators in the US, dropp
Read moreFTSE 100 movers: Lloyds rises after Q1 results impress
30th Apr 2013 15:31
Markets gave a positive reaction to first-quarter results from banking giant Lloyds, with the stock rising sharply after profits came in slightly ahead of consensus estimates and the company reduced its full-year cost guidance. Sector peer RBS was also in demand ahead of its interim management sta
Read moreLondon midday: Markets pause ahead of central-bank decisions
30th Apr 2013 11:45
Corporate earnings in London were taken well by the market on Tuesday morning with Lloyds, BP and Imperial Tobacco all on the rise, but the FTSE 100 was broadly flat by lunchtime as traders turned cautious ahead of central-bank decisions later this week. London's benchmark index has now risen by ar
Read moreBroker tips: Lloyds, BP, Invensys
30th Apr 2013 11:21
Lloyds' first-quarter results were modestly ahead of consensus estimates, but Nomura has maintained its 'reduce' rating for the bank, saying that the strong share-price reaction on Tuesday morning was overdone. Nomura thinks that Lloyds' cost guidance - to reduce total costs to £9.6bn this year, be
Read moreLloyds sees first-quarter profits soar
30th Apr 2013 11:04
Lloyds Banking Group's first-quarter profits surged as it slashed costs and reduced bad debts. The state-backed bank reported a statutory pre-tax profit of £2.04bn in the first quarter, up from £280m for the same period a year earlier. Underlying profit rocketed to £1.48bn from £497m. Total unde
Read moreBroker snap: Nomura keeps 'reduce' rating for Lloyds
30th Apr 2013 10:59
Lloyds' first-quarter results were modestly ahead of consensus estimates, but Nomura has maintained its 'reduce' rating for the bank, saying that the strong share-price reaction on Tuesday morning was overdone. The stock was up 4.43% at 55.87p after having hit an intraday high of 57.21p early on.
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