London midday: Stocks rally after German vote on ESM
12th Sep 2012 11:48
- Stocks jump after ESM vote in Germany - Spain considering ECB bond purchases - Banks lead the rally The FTSE 100 had swung into positive territory by Wednesday lunchtime with banking stocks in the lead after Germany's high court approved the Eurozone's new rescue fund, the European Stability Mec
Read moreLondon close: Footsie shrugs off Burberry fall to finish flat
11th Sep 2012 16:34
- Burberry sinks 21 per cent after profit warning - Markets flat ahead of 'event-risks' - Moody's says US rating at risk Following a morning slump, the FTSE 100 rallied in afternoon trade to finish broadly flat on Tuesday as a strong showing by banks managed to offset a heavy fall from Burberry. T
Read moreFTSE 100 movers: Burberry falls after warning on trading conditions
11th Sep 2012 15:35
British fashion house Burberry plummeted in the opening hour and has remained firmly in the bottom spot after warning that trading conditions were becoming more challenging with like-for-like sales flat in the second quarter. The firm said that ahead of the key retail trading period in the second ha
Read moreLondon close: Stocks flat, markets in 'wait and see' mode
10th Sep 2012 16:47
- Investors cautious ahead of pivotal week - Ruling on ESM and FOMC meeting in focus - Miners lead risers on hopes of QE3 London's FTSE 100 index finished just two points lower on Monday afternoon as investors refrained from building positions ahead of a busy week for the markets. The Footsie sta
Read moreFTSE 100 movers: Miners up on improved outlook
10th Sep 2012 15:39
UBS said that the outlook for the UK mining sector is improving with quantitative easing (QE) measures now expected. Pushing the likes of Kazakhymys, Vedanta and Antofagasta higher, the broker said: "QE triggers a return of capital flows to emerging markets, incentivising companies to stop running
Read moreRBS could announce Direct Line flotation this week
10th Sep 2012 13:04
Government-owned lender Royal Bank of Scotland (RBS) could start the process of spinning off its Direct Line Insurance Group by the end of the week, reports indicate. Quoting persons close to the discussions, news agency Bloomberg claims RBS is poised to sell around a quarter of Direct Line throug
Read moreSunday newspaper round-up: Xstrata, Heathrow, RBS
9th Sep 2012 16:49
Shareholders have warned directors at Xstrata, the FTSE 100 mining company, that they risk being removed if they block the 56bn pound merger with Glencore. Glencore's final offer ? increased in dramatic circumstances last week after the intervention of Tony Blair, the former prime minister ? will go
Read moreLondon close: Stocks extend gains as QE3 hopes increase
7th Sep 2012 16:48
- Markets buoyed by ECB's plans - QE3 hopes increase as jobs data disappoints - Xstrata and the miners jump, though Glencore bucks the trend In spite of some massive gains the day before, the FTSE 100 and most other stock markets in Europe finished moderately higher on Friday on hopes that central
Read moreThursday newspaper round-up: Saudi Arabia, RBS, Obama
6th Sep 2012 06:36
A report by Citigroup has warned that Saudi Arabia could run out of oil to export by 2030, raising fears that oil prices may rise significantly in coming years. The Kingdom is the world's largest oil producer, accounting for about 13 per cent of global supply, but it may need to use a growing share
Read moreDirect Line to cut 900 jobs
5th Sep 2012 13:29
Insurance company Direct Line, which is currently owned by Royal Bank of Scotland, is to cut 900 jobs in a bid to save costs. More than half of the jobs will go at Direct Line's site in Stockton-on-Tees, which is to be closed. Direct Line has launched a series of initiatives aimed at saving £100m
Read moreCommittee of lenders formed to help hibu
5th Sep 2012 09:44
The restructuring process of hibu, the debt-laden media company formerly known as Yell Group, has taken another step forward with the formation of a co-ordinating committee of the group's lenders. The committee comprises representatives from the following parties: Alcentra; GE Corporate Finance Ban
Read moreLondon close: Footsie drops 1.5 per cent as nerves take over
4th Sep 2012 16:41
- US manufacturing data disappoints - Markets nervous ahead of ECB meeting - Broker downgrades take down Vodafone, Land Secs... Disappointing manufacturing data from the US and skittishness ahead of a European Central Bank (ECB) monetary policy decision on Thursday sparked a sell-off on global stoc
Read moreTuesday broker round-up
4th Sep 2012 09:31
Ashtead: Jefferies lifts target from 360p to 320p, buy rating kept. Barclays: JP Morgan downgrades to neutral from overweight, target cut from 265p to 250p. British Land: UBS downgrades to neutral, target cut from 575p to 560p. Capital Shopping Centres Group: UBS upgrades to buy, target lifted fr
Read moreLondon open: Stocks slip before US data
4th Sep 2012 08:30
- Moody's lower EU rating to 'negative' - Markets await US ISM data - Investors keep eyes pinned on ECB UK stocks pulled back on Tuesday morning following a strong performance the day before as some gloomy comments from Moody's and caution ahead of some US economic data dampened sentiment. Yesterd
Read moreRBS and Goodwin face potential legal battle
3rd Sep 2012 16:22
Royal Bank of Scotland could be in for a bruising legal battle with angry shareholders according to several reports on Monday. According to the Times, a group known as the RBoS Shareholders Action Group is gearing up to sue the bank as well as its former Chief Executive Fred Goodwin and former Chai
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