FTSE 100 movers: RBS in top spot following sale speculation
27th Mar 2012 14:09
RBS was in pole position following several reports which claimed that UK Financial Investments, the body which administers public holdings in RBS, has held meetings with Abu Dhabi's sovereign wealth fund to sell between 10 and 30 per cent of the government's stake. Kazakhmys was on the up after th
Read moreLondon midday: Gains pared despite strong performance by banks
27th Mar 2012 11:55
- Government may cut stake in RBS - Defensives sold off - Resolution could split before sale The Footsie was nearly back where it started by midday, after gains were trimmed as heavy losses for Resolution, Compass and utilities stocks weighed on the blue chip index. The earlier rise for London's
Read moreGovernment mulls RBS sale to Abu Dhabi
27th Mar 2012 09:31
It looks like you could be selling your shares in Royal Bank of Scotland to investors from Abu Dhabi. What's that you say? You don't own any shares in RBS? Well, of course, all of us British taxpayers actually do. In fact we own 83% of the bank following its £45bn bailout in 2008. There are severa
Read moreLondon open: RBS leads the rise early on
27th Mar 2012 08:46
- Government may cut stake in RBS - Rio Tinto considers offloading diamond interests - Resolution could split before sale A strong performance by the banks helped push the FTSE 100 higher on Tuesday morning as the market continues to be boosted by recent comments by US Federal Reserve Chairman Ben
Read moreTuesday newspaper round-up: RBS, Greece, North Sea well
27th Mar 2012 07:06
The Government has discussed selling some of the taxpayer's holding in Royal Bank of Scotland to an Abu Dhabi sovereign wealth fund as the authorities continue to look for ways to cut the state's stake in the lender. UK Financial Investments, which manages the state's 82% stake in RBS, held talks re
Read moreFinancial Policy Committee tells banks to raise capital ASAP
23rd Mar 2012 12:46
The Bank of England (BoE) has warned banks that they must raise external capital as early as is feasible. The Financial Policy Committee (FPC), which acts as a watchdog for the BoE, published a report expressing its concerns that "capital is not yet at levels that would ensure resilience in the fac
Read moreLondon open: BT leads the risers early on
23rd Mar 2012 08:38
The Footsie rose in the opening hour of Friday's session, helped by a strong performance by financial stocks. Company news was thin on the ground early on but BT was the best performer after announcing plans to eliminate its pension deficit within 10 years. The blue chip index remains nearly 100 po
Read moreBBA mortgage approvals slump
23rd Mar 2012 08:22
The British Bankers Association (BBA), whose members dole out almost two-thirds of mortgages to British home buyers, said mortgage approvals for new homes fell more sharply than expected in February. BBA members approved 33,103 applications for mortgages on new dwellings in February, down sharply f
Read moreWednesday newspaper round-up: RBS, Budget, BoE
21st Mar 2012 07:09
Royal Bank of Scotland's insurance arm is poised to appoint Mike Biggs as its chairman with a brief to lead a £5bn flotation of the Churchill and Direct Line brands this year. Mr Biggs, a former HSBC banker and Aviva finance director, is chairman of Resolution Limited, Clive Cowdery's FTSE 100 inves
Read moreRBS to sell private banking business
20th Mar 2012 14:55
Royal Bank of Scotland has announced that Coutts intends to sell its Latin American, Caribbean and African private banking business to Royal Bank of Canada (RBC Wealth Management). The business manages around £1.5bn of assets on behalf of clients located across the three regions. Coutts, RBS's Wea
Read moreLondon open: Miners pull the Footsie lower
20th Mar 2012 08:36
- Miners fall as BHP warns of slowing steel production in China - OBR to raise UK GDP forecasts for 2012 - ARM, National Grid, United Utilities rise after upgrades The FTSE 100 slumped in the opening hour on Tuesday as the miners dragged the blue chip index into the red for a second day. According
Read moreRBS to close two units
20th Mar 2012 07:59
Royal Bank of Scotland is to close its equity capital market and corporate finance units in South Korea, alongside its cash equities businesses in Indonesia, Korea and Singapore. The decision to close some units comes after an agreement with Malaysia's second-biggest lender CIMB Group Holdings Bhd,
Read moreLondon close: Losses trimmed by news from Greece
19th Mar 2012 17:03
- Greek CDS auction finishes in line with expectations - Greece expects GDP to fall 4.5 per cent in 2012 and 0.5 per cent in 2013 - Markets await Wednesday's Budget The FTSE 100 finished only slightly in the red after a positive start on Wall Street, which saw UK stocks trim losses in afternoon tra
Read moreLondon close: Footsie finishes strongly as banks, miners provide a lift
16th Mar 2012 16:47
- Footsie finishes the week up 1.4 per cent - Eurozone debt crisis eases, US data mixed - Essar closes up 10 per cent The Footsie finished the week strongly, closing not too far off the elusive 6,000 mark, with financials and miners making ground as tensions arising from the Eurozone's debt crisis
Read moreFTSE 100 movers: Lower gold price hits miners
16th Mar 2012 15:39
Polymetal and Randgold Resources both dropped lower, as gold prices took a hit. Polymetal continues to make headlines concerning the rumoured merger with Russian peer Polyus Gold, which is aiming to raise its free float to 25% (from 14%) in order to gain a long-awaited premium listing on the FTSE
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