London close: Stocks slip as Greek talks commence
8th Feb 2012 16:37
- Greek talks now underway in Athens. - Investors await policy decision by BoE tomorrow. - Reckitt leads risers after full-year results. The earlier optimistic mood in global equity markets soon faded as talks between Greek leaders commenced on Wednesday afternoon. The Footsie slipped towards the e
Read more2012 to be a tough year for UK, but Citi still overweight on banks
8th Feb 2012 16:29
In spite of what Citi believes will be another tough year for the UK economy, the US investment bank has reiterated its overweight position on UK banks. 2012 will be another difficult year, the broker says, with "continued emphasis on balance sheet repair after the surge in private and public debt
Read moreWednesday newspaper round-up: Xstrata, BP, Yahoo,
8th Feb 2012 06:22
Mick Davis has been put on notice to waive his £11m bonus for the completion of Xstrata's $86bn (£54bn) merger with Glencore. A top five shareholder has told the company that Mr Davis should "be very careful about what his pay rations look for doing a deal he personally benefits from", whatever his
Read moreFTSE 100 movers: Admiral leads the way higher
3rd Feb 2012 13:17
Insurance group Admiral jumped into the top spot after extending its existing UK car insurance reinsurance partnerships with Hannover Re, Mapfre Re, New Re and Swiss Re until 2014. "Reinsurance has been at the core of Admiral's successful business model since 2000 and we look forward to continuing o
Read moreLondon midday: Admiral leads the rise ahead of US data
3rd Feb 2012 12:03
Stocks were up at the day's best levels by lunchtime following a subdued start, with insurance outfit Admiral leading the charge. Miners on the other hand, are providing a drag, pulling back from their strong showing yesterday on the back of heightened M&A speculation in the sector. Markets were gi
Read moreFriday broker round-up - UPDATE
3rd Feb 2012 09:09
Royal Bank of Scotland: Deutsche Bank downgrades to hold from buy. BT Group: Nomura reiterates buy recommendation and 285p target. AstraZeneca: Nomura keeps reduce rating and 2,400p target. GlaxoSmithKline: Nomura reiterates neutral rating and 1,220p target. Royal Dutch Shell B: Nomura raises ta
Read moreLondon open: Stocks flat ahead of US data, Admiral jumps
3rd Feb 2012 08:31
London's blue chip stocks were broadly flat in early trading on Friday, with investors cautious ahead of some key non-farm payroll data due out in the US later today. In domestic news, the National Institute of Economic and Social Research (NIESR) predicts that the UK may fall back into recession t
Read moreLondon close: Financials surge as macro data lifts sentiment
1st Feb 2012 17:00
- Schroders leads financial stocks higher as risk appetite increases. - Manufacturing data from UK, Europe, US and China well-received. - Greece 'one formal step away' from deal. The Footsie finished with a triple-digit point gain on Wednesday after manufacturing data from across the globe lifted s
Read moreFTSE 100 movers: ARM hits the bottom spot, ICAP soars
1st Feb 2012 13:46
Chip designer ARM Holdings proved to be the day's big faller, pulling back after yesterday's well-received results. The Financial Times' Lex column is today singing the virtues of ARM's "strong fundamentals", but adds that the company's valuation, at 47 times expected earnings, is "through the roof.
Read moreLondon midday: Stocks rise after Eurozone manufacturing data
1st Feb 2012 11:56
Gains were extended by lunchtime after Eurozone manufacturing data suggested that the region may escape a recession. Financials were putting in a strong performance in London, led by ICAP which was rising over 7% at the midday mark. January's purchasing managers' index (PMI) for the Eurozone manufa
Read moreLondon open: ICAP leads strong rise for Footsie
1st Feb 2012 08:23
The Footsie opened in positive territory, rising well above the 5,700 level, after better-than-expected Chinese data and rumours of progress in Greece lifting the mood early on. European markets have opened strongly as investors await Eurozone manufacturing data later this morning. The HSBC China m
Read moreFred Goodwin living through dark knight of the soul
1st Feb 2012 08:15
Fred Goodwin does actually have some friends. It's worth mentioning this as his standing is so low following the announcement he is to be stripped of his knighthood there might be a temptation to feel sorry for the former Chief Executive of the Royal Bank of Scotland (RBS). Speaking on the Today Pr
Read moreLondon close: Euro worries drag Footsie down 1.1%
30th Jan 2012 17:13
Just nine stocks in the FTSE 100 finished above water on Monday as the Eurozone crisis weighed heavily on sentiment. With the borrowing rate of Portuguese debt surging, Greek talks still unresolved and an EU summit taking place, a risk-off attitude swept across the market today with resource stocks
Read moreFTSE 100 movers: Banks and miners weigh footsie down
30th Jan 2012 13:18
The banks were in the red as the euro crisis drags on, with Lloyds, Standard Chartered and Royal Bank of Scotland (RBS) among the worst performers. Lloyds is rumoured to be shaking up its management structure, according to the Financial Times. Sources quoted by Reuters indicate that an announcement
Read moreLondon midday: Stocks fall ahead of EU summit
30th Jan 2012 11:55
London's blue chip index had fallen close to its lowest levels of the day by lunchtime ahead of the EU summit in Brussels. Meanwhile, markets were still digesting the downgrade of five Eurozone nations on Friday and the talks between the Greek government and private creditors that are still ongoing.
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