London close: Markets extend winning streak despite Fed concerns
13th May 2013 17:04
The FTSE 100 finished with slight gains on Monday, extending the recent winning streak into its eighth day, as markets shrugged off concerns over stimulus measures in the US and disappointing economic data in China. Following a strong rise last week, London's benchmark index reached a closing price
Read moreFTSE 100 movers: G4S in top spot after G8 contract win
13th May 2013 15:23
G4S leapt into the top spot after winning a deal to provide security at the two day Northern Ireland G8 Summit in June. It will provide 450 staff members to give support to the police. Antofagasta was another strong riser, erasing some of last week's losses after Nomura said it was one of several m
Read moreLondon midday: Stocks snap winning streak as Chinese data disappoints
13th May 2013 11:51
Disappointing economic data from China on Monday put an end to a seven-day winning streak in London which lifted the FTSE 100 to a five-and-a-half-year high last week. London's benchmark index reached a closing price of 6,625 on Friday afternoon, a level not seen since late 2007, meaning that it ha
Read moreLondon open: Markets pause after strong run last week
13th May 2013 08:48
Weakness in the financial sector meant that the FTSE 100 was in the red on Monday morning, with investors pausing for breath after the index reached fresh multi-year highs last week. London's benchmark index reached a closing price of 6,625 on Friday afternoon, a level not seen since late 2007, mea
Read moreLondon pre-open: Stocks to edge lower in early trade
13th May 2013 07:32
City sources predict the FTSE 100 will open down four points from Friday's close of 6,625, following the weekend's meeting of the G7 in the UK. In all it appears the leaders from the seven countries agreed it was wise to allow the Japanese yen continue on its path lower. On today's agenda, econo
Read moreLloyds Chairman to step down
13th May 2013 07:05
Part-nationalised lender Lloyds has revealed that Chairman Sir Winfried Bischoff will retire within a year's time, a move thought to be in anticipation of the bank's potential privatisation. Bischoff, who has been Chairman since September 2009 and instrumental in the company's radical restructuring
Read moreMonday newspaper round-up: Lloyds, ENRC, Ocado...
13th May 2013 06:44
Sir Win Bischoff, the Chairman of Lloyds since September 2009, is expected to announce his resignation ahead of Thursday's shareholder meeting as the bank readies for privatisation, reports The Guardian. The Financial Times says that May 17th is the deadline for a bidding consortium - made of a "tr
Read moreLloyds 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.
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