RBS rises on exiting government insurance scheme
17th Oct 2012 15:29
The Royal Bank of Scotland rose two per cent on Wednesday after announcing it was leaving the government insurance scheme set up to protect it from collapse during the financial crisis. Analysts at Credit Suisse said the move out of the Asset Protection Scheme (APS) was seen as as a positive step
Read moreLondon midday: Miners lead steady advance
17th Oct 2012 11:43
Footsie finished the morning close to the day's high after better than expected unemployment figures lifted sentiment. The number of people out of work fell by 50,000 between June and August to 2.53m. This put the unemployment rate at 7.9%, down 0.2% from the March to May figure. Most analysts ha
Read moreLondon open: FTSE gets off to wobbly start ahead of MPC minutes
17th Oct 2012 08:50
After initially edging higher following a strong performance in the US last night, the FTSE 100 has dropped marginally lower as investors await the release of minutes from the October meeting of the Bank of England's Monetary Policy Committee (MPC) and the unemployment figures, due out at 09:30 this
Read moreRBS leaves asset protection scheme
17th Oct 2012 07:01
The Royal Bank of Scotland is set to leave the government insurance scheme that was set up at the height of the financial crisis to protect the company from collapse. Analysts said this could pave the way for RBS to be sold back into the private sector. It is currently 82%-owned by the UK taxpayer
Read moreWednesday newspaper round-up: Recession, Bumi, Greece
17th Oct 2012 06:54
Indonesia's market regulator is investigating the use of funds raised in an initial public offering of one of London-listed Bumi Plc 's key assets. Bapepam, the financial watchdog, has requested data and information over several months from Bumi Resources Minerals, which in late 2010 raised about $2
Read moreLondon close: US earnings spark surge in UK stocks
16th Oct 2012 16:32
- US earnings lift sentiment - Speculation Spain nearing a bailout request - Germany's Meister says remarks over interpreted -Guardian - German ZEW index beats forecasts Better-than-expected earnings from Goldman and Johnson & Johnson and signs of progress in the Eurozone saw the FTSE 100 surge 1.2
Read moreFTSE 100 movers: Financials, miners jump on increased risk appetite
16th Oct 2012 15:03
Financial and resource stocks were performing well on Tuesday afternoon as investors adopted a 'risk-on' attitude on the back of improved newsflow from the Eurozone and better-than-expected corporate results in the US. Lloyds, Admiral, Royal Bank of Scotland and Barclays were leading financials hig
Read moreLondon midday: Stocks extends gains after German ZEW survey
16th Oct 2012 11:48
- German ZEW index beats forecasts - Markets await results from US blue-chips - Signs of progress in Eurozone lift sentiment UK stocks had held on to gains by Tuesday lunchtime as investors digested some decent economic figures and improving newsflow from the Eurozone. "Financial markets extended
Read moreTuesday newspaper round-up: RBS, British economy, BP
16th Oct 2012 06:57
The Royal Bank of Scotland is considering suing Santander amid fears that its decision to ditch the deal buy 316 branches could cost the part-nationalised lender as much as 1 bn pounds. Lawyers and advisers at RBS are "looking at the legality" of Spanish bank's reversal after its shares fell and as
Read moreLondon close: Stocks hold on to gains despite Eurozone uncertainty
15th Oct 2012 16:25
-Chinese data and US figures lift sentiment -All eyes on Spain and Greece ahead of EU summit -Citi economist predicts 'Grexit' -Spanish 10 year bond yields rise 19bp to 5.82 per cent -Greek 10 year bond yields fall 48bp to 17.56 per cent London's FTSE 100 index finished the day in positive territor
Read moreRBS 'suspends Europe rates trading head'
15th Oct 2012 16:00
The Royal Bank of Scotland has suspended its head of rates trading for Europe and the Asia- Pacific region as part of its ongoing investigation into rate rigging, according to Bloomberg. Jezri Mohideen was suspended on 12th October following reports that he instructed colleagues to lower the Britis
Read moreLondon midday: Hargreaves leads risers in morning trade
15th Oct 2012 11:30
- Chinese export data beats forecasts - Eyes on Greece and Spain - Hargreaves Lansdown extends gains. Better-than-expected Chinese export data and hopes for the Eurozone were lifting stocks on Monday morning, with the Footsie up 0.5 per cent by lunchtime. Chinese exports increased at an annual rat
Read moreBroker snap: Cancelled branch sale only 'modestly negative' for RBS
15th Oct 2012 09:48
Nomura has maintained its 'reduce' rating and 260p target price for UK banking group Royal Bank of Scotland (RBS) after the news of the cancelled branch sales to Santander. RBS confirmed on Monday morning that Santander UK has pulled out of its greed purchase of 316 of its branches, comprising of R
Read moreMonday broker round-up
15th Oct 2012 09:33
Anglo American: Goldman Sachs downgrades to sell. Antofagasta: Goldman Sachs downgrades to neutral, target cut from 1,150p to 1,100p. Asian Plantations: Panmure Gordon cuts target from 400p to 380p, buy rating kept. AVEVA: Panmure Gordon keeps hold rating and 1,878p target. Bellzone Mining: Gold
Read moreLondon open: Chinese export data lifts stocks
15th Oct 2012 08:41
- Stocks gain as Chinese exports beat forecasts - EU summit in focus - Goldman downgrades several UK-listed miners UK stocks edged higher in early trading on Monday on the back of some robust export data from China, though gains were only modest as uncertainty in the Eurozone continues to be a drag
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